Lic New Endowment vs Lic Jeevan Saral Life Insurance Plan 2026 | PolicyX
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LIC New Endowment Plan-one of the best policy by LIC India. The LIC New Endowment plan (Plan No: 914) is a must-avail plan considering the many benefits it offers to the customer. It is a non-linked life insurance policy that offers guaranteed returns and bonuses. The policy offers a great bandwidth in the choice of the policy term. One can choose the duration of the policy from 12-35 years. It also has a stretched age limit wherein it can be availed by anyone between 8-55 years and the same can be continued to as long as 75 years.

The Policy is entitled to regular premium payment for the entire tenure. If an insured person survives the policy term, he/she will be entitled to the maturity benefit that is, the Sum Assured along with the vested Simple Reversionary Bonus + Final Addition Bonus.

LIC New Endowment Plan offers you a range of benefits including:

  • Death Benefits,
  • Maturity Benefits
  • Income tax benefits
  • Policy loan
  • Free-look period
  • Participation in profits
PLAN DETAILS

Lic New Endowment

Lic Jeevan Saral
Premium Including GST
Key Features
(Key features of the plan)
  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure
  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure
Plan Maturity age Maximum Maturity Age - 75 years Maximum Maturity Age - 70 years
Plan Sum Assured Same as policy term 10 to 35 years
Plan Entry Age Minimum Age - 8 years Maximum Age - 55 years Minimum Age - 18 years Maximum Age - 65 years
Plan Payment modes Rs 1 lakh to No limit Rs 5 lakhs to Rs 25 lakhs
Plan Policy loan Annual, half-yearly, quarterly & monthly Annual, half-yearly, quarterly & monthly
Plan Sample Premium - -
Plan Brochure Brochure URL Brochure URL
Policy Term Minimum term - 12 years Maximum term - 35 years Minimum - 10 years, Maximum - 35 years
Claim Settlement Ratio (2024-25) 98.5% 98.5%
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LIC Endowment Assurance Policy Explained | Best LIC Plan for Savings & Insurance

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* The above sample premiums are for a 30-year-old male, nonsmoker with a sum assured of Rs 50 lakhs and a policy tenure of 25 years. You can calculate the premiums for the above life insurance plans using the PolicyX Life Insurance Calculator.

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Benefits of LIC New Endowment Plan

There are various benefits to buying the LIC New Endowment Plan. Let’s understand each of them in detail:

  • Death benefits:  On the death of the insured, the nominee will be liable to receive the death benefits. In case of death before the date of commencement of risk, an amount that will be equal to the unit fund value will be paid. If the death occurs after the date of commencement of risk, an amount that will be higher than the basic sum assured or unit fund value is payable.
  • Maturity Benefit: In the case where the insured survives until the maturity date, he/she will receive an amount that will be equal to the unit fund value as maturity benefit.
  • Survival Benefits: The plan pays out maturity benefits in the form of multiple guaranteed ‘survival benefits' throughout the policy tenure. Under this plan, the policyholder is also liable to get the regular liquidity facility.
  • High sum assured rebates:  You can enjoy rebates on choosing the high sum assured option.

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Reviewed By: Naval Goel

Naval Goel has over a decade of expertise in the insurance sector, having worked with companies like AIG, New York. He is an Associate Member of the Indian Institute of Insurance, Pune, and is authorized by IRDAI to act as Principal Officer of PolicyX.com Insurance Web Aggregator.

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