⭐ New Endowment Plan – 714

Discover the New Endowment Plan - 714, a comprehensive life insurance solution designed to provide long-term financial protection along with disciplined savings. This plan ensures your loved ones stay protected while your investments grow safely over time.

Offering a perfect combination of insurance + guaranteed returns, it provides maturity benefits, death benefits, and potential bonuses — making it an ideal choice for individuals seeking stability and long-term wealth creation.

Key Features

• Dual Benefit: Life protection along with long-term savings.
• Guaranteed Maturity Benefit: Lump sum payout at policy maturity.
• Death Benefit: Provides financial protection to your family during the policy term.
• Bonus Additions: Eligible for reversionary bonuses and final additional bonuses.
• Flexible Policy Term: Choose a plan duration that fits your goals.
• Tax Benefits: Premiums eligible for tax deduction under Section 80C.

Benefits

✔ Protection: Safeguards your family financially in your absence.

✔ Guaranteed Returns: Receive the sum assured + accumulated bonuses at maturity.

✔ Risk-Free Savings: Ideal for conservative investors looking for stable, assured growth.

Example & Calculation

Let us understand with a simple example:

• Age of Policyholder: 30 years
• Policy Term: 25 years
• Sum Assured: ₹10,00,000
• Annual Premium (Approx): ₹45,000 – ₹48,000

Total Premium Paid:
₹45,000 × 25 years = ₹11,25,000 (approx)

Maturity Amount:
Sum Assured ₹10,00,000 + Accrued Bonuses (approx ₹7,00,000 – ₹9,00,000)
= ₹17,00,000 to ₹19,00,000 (approx)

In Case of Death (anytime during policy):
Family receives Full Sum Assured + Bonuses, providing strong financial security.

Note: Premium and bonus values may vary based on age, term, sum assured, and LIC bonus declarations.

Conclusion

The New Endowment Plan – 714 is perfect for those seeking dependable life cover combined with assured returns. It builds long-term wealth while keeping your family protected, making it one of the most trusted and balanced insurance-cum-savings plans offered by LIC.