LIC New Endowment Plan 914 – Beginners Guide 2026

LIC New Endowment Plan 914 – Perfect First LIC Policy

If you're buying LIC insurance for the first time, New Endowment Plan 914 is the most straightforward choice. It offers a simple combination of savings and life cover — pay premium, get guaranteed returns at maturity.

What is an Endowment Plan?

An endowment plan is a life insurance policy that serves dual purpose: (1) Life cover — family gets SA if you die during the term. (2) Savings — you get SA + bonus if you survive the term. It's insurance + savings in one product.

Plan 914 Highlights

• Entry Age: 8 to 55 years
• Term: 12 to 35 years
• Min SA: ₹1,00,000
• Bonus: ₹45/1000 SA/yr + Extra ₹1/1000 if SA ≥ ₹5L
• FAB: ₹750/1000 SA (at maturity)

Maturity Calculation

For Age 30, ₹5L SA, 20-year term: Reversionary Bonus = ₹46/1000 × 500 × 20 = ₹4,60,000. FAB = ₹750/1000 × 500 = ₹37,500. Maturity = ₹5L + ₹4.6L + ₹0.375L = ₹9.97L ≈ ₹10L. You pay total ≈ ₹5.4L, get back ₹10L — 85% returns over 20 years.

Premium Details

Age 30, ₹5L SA, 20yr, Yearly: Annual Premium ≈ ₹26,900. Monthly ≈ ₹2,290. Total premium over 20 years: ₹5.38L.

Common Mistakes to Avoid

• Don't surrender before 10 years — heavy loss guaranteed
• Don't stop paying premiums — policy lapses
• Do update nomination regularly
• Do link to Aadhaar for smooth claim processing

Calculate exact premium with our Plan 914 calculator.