LIC New Endowment Plan (Plan 714) is a traditional savings-cum-protection policy designed for individuals who want guaranteed financial security along with long-term wealth creation. This participating plan offers death benefit, maturity benefit and bonuses, making it ideal for stable financial planning and future goals such as education, marriage or asset building.
• Combines savings and life protection in one policy
• Participating plan eligible for bonuses
• Flexible premium payment options
• Suitable for long-term planning and disciplined savings
• Loan facility available after acquiring surrender value
• Ideal for building financial assets with steady growth
• Minimum Entry Age: 8 years
• Maximum Entry Age: 55 years
• Policy Term: 12 to 35 years
• Minimum Sum Assured: ₹1,00,000
• Maximum Sum Assured: No limit (subject to underwriting)
• Premium Payment Modes: Yearly, Half-Yearly, Quarterly, Monthly
At the end of the policy term, if the policyholder survives, they receive:
• Sum Assured on Maturity
+
Accrued Bonuses
+
Final Additional Bonus (if applicable)
This lump-sum amount helps secure long-term financial needs and future goals.
In the unfortunate event of the policyholder’s death during the term, the nominee receives:
• Sum Assured on Death
+
Accrued Bonuses
The death benefit ensures that the family remains financially protected.
Policyholders can add riders for greater protection, such as:
• Accidental Death & Disability Benefit Rider
• New Term Assurance Rider
• Critical Illness Rider (where available)
These riders offer additional financial support in emergencies.
After the policy gains a surrender value, you can avail a policy loan to meet urgent financial needs. The surrender benefit depends on the policy’s term, premium paid and duration in force, offering flexibility if circumstances change.
• Individuals looking for a balanced savings + protection plan
• Parents planning for children’s future expenses
• Long-term investors wanting steady, bonus-based returns
• Those who prefer low-risk, disciplined savings
• Buyers wanting a reliable financial cushion for future milestones
LIC New Endowment Plan 714 is a trusted savings-cum-protection policy offering guaranteed benefits, bonus earnings and long-term stability. With flexible terms, insurance coverage and maturity payouts, it is an excellent choice for individuals seeking financial security and predictable wealth creation. This plan ensures a secure future backed by LIC’s strong foundation and reliability.