Plan Name
LIC New Endowment Plan (714)
Product Summary
LIC New Endowment Plan 714 is a regular premium, non-linked, participating endowment assurance plan. This policy provides both protection and savings benefits with bonus.
Premium Payment Mode
Yearly, Half Yearly, Quarterly, Monthly (SSS / NACH).
Policy Term
12 to 35 Years
Minimum Age at Entry
8 Years Completed
Maximum Age at Entry
50 Years (Nearest Birthday)
Maximum Maturity Age
75 Years
Minimum Sum Assured
₹2,00,000
Maximum Sum Assured
No Limit (Subject to underwriting)
Riders Available
ADDB / AB Rider, Term Rider.
Accidental Death & Disability Benefit
Available up to age 70.
Death Benefit
Sum Assured + Vested Bonus + Final Additional Bonus (if any) OR 7 times of Annualized Premium OR 105% of total premiums paid, whichever is higher.
Maturity Benefit
Basic Sum Assured + Vested Bonus + Final Additional Bonus (if declared).
Surrender Value
Policy can be surrendered after completion of at least 1 year premium payment.
Loan Facility
Loan facility available after payment of at least 1 full year premium.
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