LIC New Endowment Plan (814)

New Endowment (Table No: 814) of LIC, is a basic Life Insurance plan which provides adequate life cover during policy’s term and on maturity, this plan provides a healthy amount which can be used to fulfill financial requirements like children's higher education and marriage. This plan may be recommended for everyone because of following reasons.

A sound combination of Life insurance and investment.
Low premium in comparison other plan in this category.
Eligible for bonus and Final Addition bonus declared by LIC.
Comparatively Higher Bonus
Double Accidental benefit with rider.
Tax saving on premium paid.
Tax Free maturity amount.

Calculate all Benefits for You

Plan Parameters

Age of Entry	8 to 55 years
Premium Paying Mode	Yearly, Half Yearly, Quarterly, Monthly (ECS Only)
Policy Term	12 to 35 Years
Basic Sum Assured	100000 and above ( in multiples of 5000)
Policy Revival	within 2 year
Mode Rebate	2% on yearly, 1% on Half Yearly, Nil on Quarterly
Higher Sum Assured Rebate	0% on 0 to 1,95,000 of Sum Assured 2% on 2,00,000 to 4,95,000 of Sum Assured 3% on 5,00,000 and above Sum Assured
Loan	After 3 years
Surrender	After 3 years of full premium payment

LIC New Endowment Plan Example

To Illustrate the benefits of New Endowment plan, Lets take an example of a person who is purchasing this Plan with following details.

Sum Assured: Rs. 5,00,000
Policy Term: 21 Years
Policy Purchase Year: 2015
Age: 26 Years
Yearly Premium: Rs. 23717 Calculate
To Calculate benefits with details other than above, go to Maturity Calculator.

Maturity Details

If policy holder survives the policy term ( i.e. 21 years ), Maturity will be as under.

Maturity Year	Maturity Age	Maturity Amount(approx)
2036	47	1091500

Year-wise Death Claims

If death happens during the policy term ( Before 21 years ), Sum Assured + Bonus + Final Addition Bonus(FAB) will 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.

Year	Age	Normal Life Cover(approx)	Accidental Life Cover(approx)
2015	26	524000	1024000
2016	27	548000	1048000
2017	28	572000	1072000
2018	29	596000	1096000
2019	30	620000	1120000
2020	31	644000	1144000
2021	32	668000	1168000
2022	33	692000	1192000
2023	34	716000	1216000
2024	35	740000	1240000
2025	36	764000	1264000
2026	37	788000	1288000
2027	38	812000	1312000
2028	39	836000	1336000
2029	40	875000	1375000
2030	41	901500	1401500
2031	42	930500	1430500
2032	43	959500	1459500
2033	44	1001000	1501000
2034	45	1042500	1542500
2035	46	1091500	1591500