LIC New Endowment Plan (814) Details

LIC New Endowment Plan (LIC Table No 814) is offers Guaranteed Returns with Protections because it is a traditional life insurance plan. Any Person Can Take LIC New Endowment Plan for Min. 12 yrs and Maximum 35 Yrs. Min. Age will be 8 yrs and Max. Age will be 55 Yrs. for take this Policy and can be continued till 75 yrs. of age.

In this policy, Person Have to Pay Premium for the entire policy term. Maturity Benefit of LIC of India New Endowment Plan is Equal to The Sum Assured along with vested Simple Reversionary Bonus + Final Addition Bonus.

Key Features of LIC New Endowment Plan 814

LIC New Endowment plan is a combination of Endowment plus Term insurance.

LIC New Endowment Plan  participates in Profits.

In this Plan if person lives till end of Term of the policy will be given Maturity Benefit which is SUM ASSURED + BONUS +Final Additional Bonuses etc.

If person dies within the term of the Policy Death Benefit paid to Nominee i.e. SUM ASSURED + BONUS till death Year.

We can opt for Accident Benefit Rider and Critical Illness Rider by paying small Amount with the Premium.

In LIC New Endowment Plan there is High Bonus and High liquidity and saving.

Read Also :    LIC’s NEW ENDOWMENT PLANS                               

LIC New Endowment Plan 914

LIC New Jeevan Anand 915

LIC New Jeevan Lakshya 933

LIC New Jeevan Labh Endowment 936

LIC New Jeevan Umang Plan 945

Parameters/Eligibility of LIC New Endowment Plan

ENTRY AGE Min. age – 8 yrs.Max. age -55 yrs.
POLICY TERM Min. Term -12 yrs.Max. Term -35 yrs.
SUM ASSURED Min. SUM ASSURED – Rs. 1, 00,000/-Max. SUM ASSURED – No Limit (based on underwriting decision)
PREMIUM PAYING MODE Monthly (SSS, ECS), Quarterly, Half yearly, Yearly


This plan provides discounts based on the Sum assured chosen by Policyholder.

Detailed given below.

Mode Rebate

            Yearly              – Table premium 2%.

            Half yearly     – Table Premium 1%.

Sum Assured Rebate

Sum Assured Rebate
Rs. 1,00,000/- to Rs. 1,95,000/- NIL
Rs. 2,00,000/- to Rs. 4,95,000/- 2.00 % Basic Sum Assured
Rs. 5,00,000/- and above 3.00 % Basic Sum Assured

Maturity and Death Benefits

Maturity Benefit

Sum Assured + Simple Reversionary Bonus + FAB (final additional bonus) if any.

Death Benefit

IF the Insured person dies within the Policy Term then Nominee  of the Policy will be given  “Death Benefit(Sum Assured on Death) + Simple Reversionary Bonus + FAB(final additional bonus)” if any.



LIC New Endowment (814) Plan with an Example

An example of SUNIL who is purchasing this Plan with following details.

Sum Assured: Rs.5,00,000
Policy Term: 21 Years
Policy Purchase Year: 2016
Age: 25 Years
Yearly Premium: Rs. 23892

Maturity Details

If policy holder SUNIL survives the policy term 21 years then Maturity will be as under.

Maturity Year Maturity Age Maturity Amount(approx)
2037 46 1054000

Year-wise Death Claim

If death happens during the policy term Before 21 years, Sum Assured + Bonus + Final Addition Bonus will be paid to nominee and it is indicated as Normal Life Cover. In case of accidental death, additional amount equal to sum assured is also payable to nominee; the calculation is indicated as Accidental Life Cover. Calculation of year wise and age wise death benefit according to accumulated bonus and FAB is illustrated below.

Age Risk Cover Normal Risk Cover Accidental Premium Amount Received
25 525000 1025000 23692 0
26 550000 1050000 23277 0
27 575000 1075000 23277 0
28 600000 1100000 23277 0
29 625000 1125000 23277 0
30 650000 1150000 23277 0
31 675000 1175000 23277 0
32 700000 1200000 23277 0
33 725000 1225000 23277 0
34 750000 1250000 23277 0
35 775000 1275000 23277 0
36 800000 1300000 23277 0
37 825000 1325000 23277 0
38 850000 1350000 23277 0
39 885000 1385000 23277 0
40 912500 1412500 23277 0
41 940000 1440000 23277 0
42 967500 1467500 23277 0
43 1000000 1500000 23277 0
44 1035000 1535000 23277 0
45 1075000 1575000 23277 0
46 0 0 0 1075000

Additional Information

Risk Coverage: End of the Policy Term

Date of Commencement of Risk: In case of children whose age is less than 8 years risk commencement starts either from 2 years of taking the policy or from achieving 8 years old which is earlier.

Locking period: 3 years.

Loan Facility: Available.

Income Tax Deduction:Under Section 80C for premiums paid and Section 10 (10D) for Maturity returns.

Riders available: Yes

Policy Revival: Policy can be revived before 2 years from date of First Unpaid Premium.

Suicide Clause: If insured commit suicide before 12 months, returned back 80% of premium what he paid to the nominee.

Proposal Forms: Proposal Form no. 300 or 340 will be used for this plan.

Cooling-off Period: If a policyholder is not satisfied with the Terms and Condition of the policy, he/she may return the policy within 15 days from the date of receipt of the policy.

Back-dating interest: The policies can be dated back within the same financial year.

Assignments/Nominations: assignment and nominations is possible under this plan.

Services that I offer

  • New LIC Policy Quotes and Completion
  • Complete guidance
  • Doorstep Premium Collection Service
  • Personalized Policy Recommendations
  • Renewal / Revival of Lapsed Policies
  • Human Life Value Calculation
  • Life Time Service




Office Address:-25,KG,Marg,Jeevan Prakash Building.

LIC of India,Branch Unit-117.

3rd floor,C.P. New Delhi-110001.

LIC Old ENDOWMENT PLANS                                 

New Endowment plan 814

LIC New Jeevan Anand 815

Jeevan Lakshya pan 833

 New Jeevan Labh Endowment

Jeevan Pragati 838

New Limited Premium Endowment

Jeevan Rakshak Plan Table no 827

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