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LIC — Endowment Plans
LIC's New Endowment Plan (Plan 714)
Premium
₹120/Day
Sum Assured
₹1 Lakh - No Limit
Term
12-35 Years
Premium Paying
Same as Policy Term
Key Features
Traditional with-profit endowment plan
Simple Reversionary Bonuses declared annually
Final Additional Bonus for policies held 15+ years
Loan facility after 3 years premium paid
Paid-up and surrender value available
Tax benefits under Section 80C & 10(10D)
Flexible premium payment modes
High Sum Assured Rebate available
Benefits
Maturity Benefit
Sum Assured on Maturity + Vested Simple Reversionary Bonuses + Final Additional Bonus
Death Benefit
Higher of 7x Annualized Premium or 125% of Basic SA + Vested Bonuses
Available Riders
Accident Benefit RiderPremium Waiver Benefit RiderTerm Assurance Rider
Eligibility
Age: 8-60 years, Min SA ₹1 Lakh
Highlights
Classic endowment plan with bonus from year 1 - ideal for conservative savers