LIC of India launched a new plan on 1st. October 2024, which name is LIC New Endowment Plan 714 (LIC Table No 714) is offers Guaranteed Returns with Protections because it is a traditional life insurance plan. Any person can buy LIC New Endowment Plan for Minimum 12 yrs and Maximum 35 Yrs. Minimum Age will be 8 yrs. and Maximum Age will be 55 Yrs. and can be continued till 75 years of age.

In New Endowment Plan 714 person have to pay premium for the entire policy term. Maturity Benefit of LIC New Endowment Plan 714 is Equal to The Sum Assured along with vested Simple Reversionary Bonus + Final Addition Bonus.

Key Features

 “LIC New Endowment plan 714” is a combination of endowment plus Term insurance.

• LIC New Endowment Plan 714 participates in Profits of LIC of India.
• In this Plan if person lives till end of Term of the policy will be given Maturity Benefit which is SUM ASSURED + BONUS +Final Additional Bonuses (if any).
• If person dies within the term of the Policy Death Benefit paid to Nominee i.e. SUM ASSURED + BONUS + FAB (if any) till death Year.
• You can opt for Accident and disability Benefit Rider, term rider, Critical Illness Rider and premium waiver by paying small Amount with the Premium.
• In LIC New Endowment Plan 714 there is High Bonus, High liquidity and saving.

Rebates

This plan provides 2 types of rebates to the Policyholder. Detailes are given below.

Mode Rebate

• Yearly – 2% of tabular premium
• Half yearly – 1% of tabular premium

Sum Assured Rebate