New Endowment Plan 914
New Endowment Plan 914: Life insurance in India is not just about financial investment – it’s about family security, guaranteed savings, and disciplined financial planning. Among the most trusted names in the industry, Life Insurance Corporation of India (LIC) has always designed plans to suit Indian households.
One of LIC’s most reliable and widely chosen plans is the LIC New Endowment Plan 914. This plan combines protection + savings, offering life cover during the policy term and a lump sum maturity benefit at the end.
If you are someone looking for safe investment, insurance protection, tax benefits, and steady long-term savings, then this plan can be a perfect choice.
What is LIC New Endowment Plan 914?
LIC New Endowment Plan 914 is a non-linked, participating endowment plan. This means:
- It is not market-linked (returns are stable and secure).
- It participates in LIC’s profit-sharing, meaning you earn bonuses declared by LIC.
This plan is designed to provide:
- Life insurance cover during the policy term.
- Lump sum maturity benefit at the end of the term.
- Bonus earnings that boost returns.
Thus, it offers a combination of insurance + savings + long-term wealth creation.
Key Features of New Endowment Plan 914
- ✅ Dual benefit – Life cover + savings.
- ✅ Participating plan (eligible for bonuses).
- ✅ Flexible premium paying modes (Yearly, Half-yearly, Quarterly, Monthly).
- ✅ Loan facility available after 3 years.
- ✅ Option to add riders (Accidental Death, Disability, Critical Illness).
- ✅ Tax benefits under Section 80C and 10(10D).
- ✅ Attractive for risk-averse Indian investors.
Eligibility Criteria – LIC New Endowment Plan 914
| Particulars | Details |
|---|---|
| Plan Name | LIC New Endowment Plan (914) |
| Minimum Entry Age | 8 years |
| Maximum Entry Age | 55 years |
| Maximum Maturity Age | 75 years |
| Minimum Sum Assured | ₹1,00,000 |
| Maximum Sum Assured | No Limit |
| Policy Term | 12 to 35 years |
| Premium Payment Term | Equal to policy term |
| Loan Facility | After 3 years |
| Riders Available | Accidental Death, Disability, Critical Illness |
| Tax Benefits | 80C & 10(10D) applicable |
Benefits of LIC New Endowment Plan 914
1. Maturity Benefit
At the end of the policy term, the policyholder receives:
👉 Sum Assured + Bonuses + Final Additional Bonus (FAB)
2. Death Benefit
If the policyholder dies during the term, nominee receives:
👉 Sum Assured on Death + Bonuses + Final Additional Bonus
Where Sum Assured on Death is:
- Higher of 125% of Basic Sum Assured OR 10 times of Annual Premium
- Minimum: 105% of premiums paid
3. Bonus Benefit
Being a participating plan, LIC declares:
- Simple Reversionary Bonus (added every year).
- Final Additional Bonus (added at maturity).
4. Loan Facility
Loan can be availed after 3 years for emergencies.
5. Tax Benefits
- Premiums eligible under Section 80C.
- Maturity and Death proceeds tax-free under Section 10(10D).
Premium & Maturity Illustration
Example: Mr. Ankit, Age 30 years, takes LIC New Endowment Plan 914 with ₹5,00,000 Sum Assured for 25 years.
| Particulars | Details |
|---|---|
| Age | 30 years |
| Policy Term | 25 years |
| Sum Assured | ₹5,00,000 |
| Annual Premium | ₹22,000 approx. |
| Total Premium Paid | ₹5,50,000 |
| Maturity Value (SA + Bonus + FAB) | ₹9,25,000 – ₹10,25,000 approx. |
👉 So, Ankit invests ₹22,000 annually for 25 years and receives around ₹10 lakh at maturity, along with full life cover during the term.
Investor Scenarios
Scenario 1 – Young Professional (Age 25, SA ₹3 lakh, Term 30 years)
- Annual Premium: ~₹10,500
- Total Paid: ~₹3.15 lakh
- Maturity: ~₹6.5 lakh
- Life Cover: ₹3 lakh during term
Scenario 2 – Family Man (Age 38, SA ₹7 lakh, Term 20 years)
- Annual Premium: ~₹34,000
- Total Paid: ~₹6.8 lakh
- Maturity: ~₹12 lakh
- Life Cover: ₹7 lakh
Scenario 3 – Business Owner (Age 45, SA ₹10 lakh, Term 15 years)
- Annual Premium: ~₹68,000
- Total Paid: ~₹10.2 lakh
- Maturity: ~₹16 lakh
- Life Cover: ₹10 lakh
Real-Life Examples
- Amit (Age 29): Paid ~₹18,000 annually for 25 years, maturity ~₹8.5 lakh.
- Ravi (Age 40): Premium ~₹45,000 yearly, maturity ~₹13 lakh.
- Neha (Age 35): Took ₹5 lakh policy, maturity ~₹9.7 lakh, with full insurance cover during term.
Analyst Opinions on LIC New Endowment Plan 914
- Insurance Experts: “Perfect for Indian middle-class families who want guaranteed savings + insurance.”
- Financial Advisors: “Returns may not beat inflation, but it ensures financial safety and discipline.”
- Tax Planners: “Good tool for tax saving with long-term stability.”
Advantages & Limitations
Advantages
✅ Guaranteed savings + insurance cover
✅ Eligible for bonuses
✅ Loan facility available
✅ Tax benefits under 80C & 10(10D)
✅ Flexible term options
Limitations
❌ Returns are moderate compared to equity or mutual funds
❌ Requires long-term premium commitment
❌ Not suitable for investors seeking high-risk, high-return
LIC New Endowment 914 vs LIC New Jeevan Anand 915
| Feature | New Endowment 914 | New Jeevan Anand 915 |
|---|---|---|
| Plan Type | Endowment | Endowment + Whole Life |
| Maturity Benefit | SA + Bonus + FAB | SA + Bonus + FAB |
| Life Cover After Maturity | No | Yes |
| Target Audience | Investors wanting guaranteed savings | Investors wanting savings + lifetime cover |
FAQs
Q1. What is LIC New Endowment Plan 914?
A participating endowment plan that offers insurance + savings + bonuses.
Q2. What is the minimum and maximum sum assured?
Minimum ₹1 lakh, no maximum limit.
Q3. What is the minimum term?
12 years (maximum 35 years).
Q4. Can I take a loan under this plan?
Yes, after 3 years.
Q5. Does it provide lifelong cover?
No, coverage is only during the policy term.
Q6. Is this plan good for tax savings?
Yes, under 80C and 10(10D).
Q7. Which is better – New Endowment 914 or Jeevan Anand 915?
If you want lifelong cover after maturity, go for Jeevan Anand 915. For pure savings + protection, Endowment 914 is better.
Final Thoughts – Should You Invest in LIC New Endowment Plan 914?
The LIC New Endowment Plan 914 is a perfect plan for Indians who want a balance of protection and savings. It ensures that:
- Your family remains protected during the term.
- You receive a lump sum at maturity with bonuses.
- You enjoy tax benefits + loan facility.
This plan is best for:
- ✅ Salaried employees looking for safe long-term investment.
- ✅ Parents planning for children’s future expenses.
- ✅ Middle-class families seeking tax savings + guaranteed security.
👉 If you want low-risk, guaranteed returns with insurance protection, then LIC New Endowment Plan 914 can be a perfect choice in 2025.
