LIC New Endowment Plan (814) Details

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.

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
Premium 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 [ Surrender Value Calculator]

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

Comments & Reviews (84)

Wrote :

20-11-2018 21:07:34

I want to take the plan 814 for Rs1000000as Sa. My age is 42 what Will be the premium?

Wrote :

21-11-2018 12:17:36

What term you are looking for?

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Wrote :

10-11-2018 09:04:26

Hi, last year I have joined in the 814 new endowment plan. later I registered in online ... once I open in my online id , the plan showing 833(jeevan lakshya) instead of 814. why n what is the reason.

Wrote :

14-11-2018 09:38:13

Have you checked it on your policy document? you can contact your branch in case of mismatch.

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Wrote :

22-10-2018 12:46:34

Tell me ...I want to open a lic endowment plan and thinking for 13 years tenure.please help me how much I will pay for half yearly.

Wrote :

23-10-2018 12:16:36

What is your age?

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Wrote :

19-10-2018 11:25:34

Hi team, I have a new endowment plan-814 for a term of 16 years . If i withdraw the funds on maturity after 16 years, will the policy still cover me or it will it lapse?

Wrote :

20-10-2018 11:38:56

It will not provide life cover after maturity.

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Wrote :

12-10-2018 17:26:52

IS THIS A ULIP POLICY

Wrote :

13-10-2018 08:38:38

No, it is not a ULIP plan.

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Wrote :

07-10-2018 14:21:39

I've calculated the total maturity amount for my "LIC New Endowment Policy (Plan 814)" using "Maturity Calculator" and the BONUS is ADDED to "Sum Assured" value but how does this BONUS calculated? Is this just a speculated number evaluated based on previous history (or) the number get changed from time to time and may be high at the end of maturity ? Please clarify ================= Below are the details ================= Maturity Year 2029 Age at Maturity 53 Sum Assured (A) 5000000 Bonus (Approx) (B) 2950000 Total Maturity (A+B) 7950000

Wrote :

07-10-2018 22:38:48

It will be available soon, for time being you can know it as loan amount is 90% of surrender value.

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Wrote :

07-10-2018 13:10:53

Hi Guys, Can I pay advance premiums for LIC Endowment Policy (Plan 814) if yes, how many premium in advance and how are adjusted in future? Please clarify. What are the benefits?

Wrote :

07-10-2018 13:42:13

You can only pay premium only 20days in advance. Like your due date is 30th, then you can pay after 10th of the month.

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Wrote :

21-09-2018 13:47:58

Today i get a call from LIC agent. He offer me to 24k yearly premium policy for 16 yr. And i will get around 9 lac after 16yr. Is it right or he make me fool.Also offering 2lac accidental benefit and 1.5lac credit card.

Wrote :

21-09-2018 14:18:01

We are not sure about such scheme.

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Wrote :

02-09-2018 12:22:23

hi i have been in 814 plan rom 4 years, if i have droped my plan aftr 5 yrs paymnt what is the amount i am going to get and when i will get?

Wrote :

04-09-2018 23:45:00

What are your sum Assured and term of the plan?

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Wrote :

15-08-2018 13:07:00

Sir this new endowment policy 814 will cover both life insurance and accidental insurance or we have to choose any one between it. Kindly clarify it.

Wrote :

15-08-2018 14:25:57

Both is covered but you have to select accidental rider with base plan. Generally, plan 814 is is given with rider.

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Wrote :

13-08-2018 17:26:59

what are the extra benefits for this policy. new endowment plan table no 814. if this policy avail can we get a credit card also? please reply

Wrote :

13-08-2018 20:04:02

No, this policy doesn't come with a credit card, but yes you can take credit card from LIC.

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Wrote :

17-04-2018 15:13:14

Hello sir , my name is laharika , my father have taken 814 endowment plan with accidental benefit in 2015 he paid the amount regularly , which is half yearly mood , unfortunately he expired this yr , and I am unable to pay for the policy , now what is the solution ! Will I get the amount paid or ? Please help me out , coz he paid the amount for around 3yrs

Wrote :

19-04-2018 23:38:41

Please visit your branch for claiming death benefit of this plan.

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Wrote :

14-10-2017 01:43:19

Hello Sir, I have taken this Policy , Plan :New Endowment Plan (T.No. 814),Commencement Date : 27/11/2015, Policy Term: 30 ( Premium payment term : 30). I don't see any bonus amount in my account. The Vested bonus shows 0 . Please clarify. Thanks

Wrote :

14-10-2017 10:26:32

In customer portal, accrued bonus is shown after completion of 3 policy years. You may find it mentioned in your account.

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Wrote :

19-09-2017 13:45:14

Hello Sir, I am 26 year old. Recently I have discussed 814 Plan with my agent , I want a confirmation , that how much premium i have to pay half yearly for total sum assured value 1000000 for 26 years and What will be the bonus rate.

Wrote :

19-09-2017 18:28:37

Please use premium calculator available on the site, it will show premium including accidental and disability benefits. The bonus rate is Rs. 48 per thousand of sum assured for 26 year term as per last declared. What ever will be the premium it will be indicated on the receipt so no need to worry about that.

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Wrote :

12-08-2017 12:15:08

Sir :- i. Want to know rate of intrest of. 814 no. Plan

Wrote :

12-08-2017 13:10:31

This plan is not a interest based plan, it is a bonus based plan rather and last year bonus rate was Rs. 48 per thousand of sum assured for policies with term greater than 20 years.

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Wrote :

11-07-2017 16:40:12

Hi Sir, I have taken Plan "New endowment plan" I pay premium yearly 10706 + 263 GST Tax for 21 years. Please let me know what is mature amount of my plan ? Also my agent not told about my Tax I ma paying every time tax amount, he was told it is tax free amount you will pay and got. Thanks, Pradeep

Wrote :

12-07-2017 15:34:36

Service tax was applicable from the very time the policy was taken.

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Wrote :

09-07-2017 23:49:07

Sir, I m running Endowment plan (14) & New Endowment Plan (814) for my self. Wanted to know if the maturity amt Will be tax free for both ? Thank You

Wrote :

10-07-2017 11:52:59

Maturity of 814 will be tax free and in case of plan 14, please check whether your sum assured is at least 10 times of annual premium or not, if this the case then maturity will be tax free. Generally, above condition are met in plan 14.

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Wrote :

04-07-2017 22:02:53

sir I very much satisfied with your answer that medical check up is necessary for new endowment policy in which my sum assured is 27 lakhs ,quarterly premium is 28000, age 32 years and policy term is 25 years as my agent did not ask me to under go any medical check up and i have already paid first quarterly premium of 28000 rupees. what are my options now can i request to lic to conduct my medical check up even after paying first premium. please sir suggest me any option i shall be very thankful to you

Wrote :

05-07-2017 13:35:16

Generally medical tests are conducted on completion of proposal form (policy enrollment form) with payment of first premium. There is absolutely no issue in going for medical test. Though amount has been paid, policy would not have issued yet, it issues after completion of medical test in your case. Recently, Some professional group have been allowed up to 30 Lakh sum assured without medical test, if your policy is already issued, this may be a case of such profession group. Medical tests are done prior to policy issue .

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Wrote :

04-07-2017 12:17:45

sir my age is 32 years and i have just taken new endowment lic policy with quarterly premium of 28000 including all taxes. my sum assured is 27 lakhs and policy terms is 25 years but my agent did ask me to under go any medical test. does this policy not require any medical check up

Wrote :

04-07-2017 13:14:52

Yes, as you are opting 27Lakh risk cover, so medical will be required. Higher sum assured requires medical test.

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Wrote :

30-06-2017 14:42:19

Plz tell me how long it takes to issue a policy. And how do we get confirmation of that.

Wrote :

30-06-2017 22:49:25

Generation of policy takes 1-2 days if medical tests are not involved. In the most of the cases, first premium receipt (FPR) with policy number gets generated same say. The policy document/bond become available within 20-25 days after FPR. Once the FPR is generated that means you are covered.

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Wrote :

29-06-2017 13:49:15

Dear Sir, I have The Endowment Assurance Policy (T.No. 14) (Term - Annually) from 2012, till this year I dont see/pay any Service tax, Edu cess for this policy while I am paying my term amount. Please let me know do I need to pay any service taxes hereafter due to GST ? My due date is 24th July, If GST will affect the service tax then I m ready to pay before July 1st. Please clarify. Thanks

Wrote :

01-07-2017 19:24:52

Service tax on LIC plans was introduced in year 2014 and plans taken in 2013 and earlier are not required to pay service tax separately. LIC Table number 14 plan was issued before the introduction of service tax.

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Wrote :

29-06-2017 09:28:53

Do 814 have add GST after 1st july

Wrote :

29-06-2017 11:13:29

Yes, 814 is an endowment plan and its premium will attract GST at the rate of 4.5% on first year premium and 2.25% on 2nd year premium.

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Wrote :

29-06-2017 09:28:31

Do 814 have add GST after 1st july

Wrote :

01-07-2017 19:27:16

Yes, GST will be applicable. For GST rates on insurance plans, please visit this link.

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Wrote :

15-06-2017 12:56:33

Endorment 814 is under which section by law? For Example : 80 C, 80 cc Kindly advise.

Wrote :

15-06-2017 15:20:19

Life insurance premium where sum assured is at least 10 times of annualized premium are exempted under section 80c.

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Wrote :

11-05-2017 22:43:07

Under this policy, If I due to some problems can't pay premium for 1 year then my Policy will automatically close or I can pay whenever I have money all my unpaid premium

Wrote :

12-05-2017 14:34:01

If due premiums are not paid, then you policy will become lapsed, but you can continue/revive it within 2 years of lapse by premium all due premiums with penalty.

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Wrote :

16-04-2017 13:10:37

Hi, How much premium do I need to pay in advance if I choose the monthly scheme.

Wrote :

16-04-2017 15:28:38

Two months advance premium will be required for monthly ECS mode.

Wrote :

16-04-2017 15:51:29

Thanks a lot

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Wrote :

23-02-2017 11:54:35

What if at the time of maturity, I want to convert the maturity amount into pension for rest of life years. Is it feasible?

Wrote :

24-02-2017 06:56:06

You can buy pension plan available at the time of maturity, you will also have maturity settlement option which will give you option to take maturity in eqauated amounts in span of 2 to 10 years.

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Wrote :

11-02-2017 15:18:17

Hello Team, I have a endownment polciy Table no 14 with a VESTED BONUSES. Can you please share the % that is used to calculate bonus (from applied on policy amount )

Wrote :

11-02-2017 16:09:02

Bonus is not in percentage, it declared yearwise per thousand of sum assured. Like 48 per thousand of sum assured per year in case of policies having 21 year plus term.

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Wrote :

10-02-2017 16:10:57

Hi Ravi, I have started lic 814, with a quaterly payment for this year, and yearly from next financial year(post 31 March onwards). Will it be of any benefit to pay a quarter premium for the last quarter of this year, apart from the life cover that starts immediately?

Wrote :

10-02-2017 16:36:00

I did not get your question. Policy features will remain same in all premium payment modes. As far as tax claim is concerned, if take pay yearly premium in Jan-17, the you can claim tax rebate for one fourth of yearly premium or 3 months premium(Jan to March 2017) only.

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Wrote :

08-02-2017 20:34:36

please let me know, what is the difference between new endowment plan 814 and new jeevan anand policy. I want to by a policy for my son age 26 yrs. can I got tax benefits on these polocies, my son is also in job and earning 5 lakh yearly.

Wrote :

08-02-2017 22:10:17

Please read this comparison, it provides complete difference with example. You can buy policy for your son and can take tax benefits.

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