LIC LIC's New Endowment Plan (Plan No. 914): Full Guide, Eligibility & Premium

LIC's New Endowment Plan belongs to LIC's endowment plans family. In one line: the classic savings-and-protection policy

Eligibility at a glance — entry age 8 to 55 years; sum assured ₹1,00,000 and above; policy term 12 to 35 years. Anything outside those bands will simply not be issued, so check them before you plan the premium.

What the plan actually gives you: Guaranteed maturity benefit with bonuses Death benefit of at least 105% of premiums paid Optional accident and disability rider Loan and surrender value after two full years Those are the contractual features; bonus or market-linked components, where they apply, are declared by LIC each year and are not guaranteed in advance.

Who it suits: First-time buyers who want disciplined long-term savings with life cover attached. If that does not describe your situation, there is usually a better-fitting plan in the same family, and it costs nothing to ask.

Before you sign, run LIC's New Endowment Plan through the premium calculator on this site with your own age, sum assured and term. Seeing the yearly outgo next to the projected maturity value is the fastest way to know whether the plan fits your cash flow — and the fastest way to spot a mis-sold recommendation.

Buying, servicing and claiming are three different jobs. We help with all three free of charge, including for policies you bought elsewhere, from our office at Fort, Mumbai and online across India.