LIC Endowment Plan Calculator: Compare Premium and Maturity Across LIC's Endowment Plans

What does the LIC endowment plan calculator do?

An endowment policy does two jobs at once: it insures your life for a fixed term and it builds a savings pot that is paid to you if you survive that term. LIC sells several endowment plans, and they differ in how long you pay, how long the cover runs and what happens after maturity. This calculator puts four of them side by side so you can compare the premium and the likely payout before you speak to an agent.

The plans included are:

Plan	Premium type	Entry age	Policy term	Minimum sum assured
New Endowment 714	Regular (whole term)	8–50	12–35 years	₹2,00,000
New Jeevan Anand 715	Regular + cover after maturity	18–50	15–35 years	₹2,00,000
Jeevan Labh 736	Limited (10/15/16 years)	8–59	16, 21, 25 years	₹2,00,000
Single Premium Endowment 717	One-time payment	0–65	10–25 years	₹1,00,000

All four allow a maximum maturity age of 75 in this calculator. The tool is independent and built for planning; your final premium is the one on LIC’s proposal quote.

How the calculation works

Every LIC traditional plan is priced with a tabular premium: a rupee amount for each ₹1,000 of sum assured, which depends on your age and the term. This tool has no rate tables of its own. It passes your inputs to the plan calculator for the plan you pick, so every figure matches that plan’s page on this site; for all four plans the rates follow the sample premiums in LIC’s published brochures. Each plan calculator works the same way:

1. Rate per ₹1,000. It looks up the rate for your age and term, interpolating between table points so every age gets a smooth figure.
2. Rebates. Paying yearly gets a 2% mode rebate (1% for half-yearly). Larger covers also get a high sum assured rebate of a few rupees per ₹1,000, set separately for each plan.
3. Mode loading. Half-yearly, quarterly and monthly instalments cost slightly more over a year than one yearly payment.
4. Bonus and maturity. Maturity = sum assured + (bonus rate × sum assured ÷ 1,000 × term) + the indicative final additional bonus that each plan calculator assumes.
5. Death cover. For 714 and 736 it is the higher of the sum assured or 7 times the yearly premium. For 715 it is the higher of 125% of the sum assured or 7 times the premium. Accrued bonuses are added in every case.

For Plan 717 you pay one premium upfront. The death cover is the higher of the sum assured or 125% of that single premium (110% for entry at age 50 or above).

Worked example

Take a 30-year-old choosing New Endowment 714 with a ₹5 lakh sum assured for 20 years, paying yearly:

• Yearly premium: about ₹25,707, which is also the amount you pay because no GST applies
• Total paid over 20 years: about ₹5,14,140
• Bonuses at ₹45 per ₹1,000 plus final bonus: about ₹4,60,000
• Estimated maturity: about ₹9,60,000 at age 50

Double the cover to ₹10 lakh and the premium rises to about ₹49,913, not ₹51,414. The larger cover earns a bigger high sum assured rebate, so the rate per ₹1,000 falls. Estimated maturity becomes about ₹19,20,000.

Now compare plans on the same ₹10 lakh cover at age 30:

Plan and term	Yearly premium	Years you pay	Estimated maturity
New Endowment 714, 20 years	₹49,913	20	₹19,20,000
New Jeevan Anand 715, 21 years	₹55,157	21	₹20,45,000 + ₹10 lakh lifelong cover
Jeevan Labh 736, 21 years	₹55,505	15	₹21,39,500

Jeevan Labh costs almost the same per year as Jeevan Anand (about ₹350 more), but you finish paying six years earlier. Your total outlay is about ₹8.3 lakh against roughly ₹11.6 lakh for Jeevan Anand. Jeevan Anand’s extra is the ₹10 lakh cover that continues after maturity for as long as you live.

Tip: if your main need is a big life cover, a term plan gives far more cover per rupee. Endowment plans make sense when you want guaranteed, low-risk savings with some protection built in.

How to read the results

• Yearly premium is the base premium for yearly payment. Use it to compare plans.
• Instalment premium is what you pay per instalment in the mode you picked.
• No GST: individual life insurance premiums have been exempt from GST since 22 September 2025, so the premium shown is what you pay. Before that date LIC added 4.5% in the first year and 2.25% after, which is why older receipts show higher amounts.
• Total premium paid is instalment × instalments per year × premium paying years.
• Maturity benefit depends heavily on the bonus rate you enter. Treat it as an estimate, not a promise.
• Sum assured on death is the base death cover; the nominee also receives bonuses added up to that date.

Tips and common mistakes

• Don’t assume the highest bonus. Recent bonus rates for regular LIC endowment plans have mostly been in the ₹40–50 range per ₹1,000. Try ₹40 as a cautious case.
• Single premium bonuses tend to be lower. Plan 717 locks up a large sum on day one. Test a lower bonus rate before comparing it with a fixed deposit.
• Watch the maturity age. A 50-year-old cannot take a 30-year term because maturity would cross 75. The calculator shows an error if you try.
• Choose a yearly mode if you can. The mode rebate and lower loading make yearly payment the cheapest option.
• Buy for the full term. Surrendering in the early years usually returns less than you paid. Check the surrender value calculator before you exit.

Related calculators and plans

• Read the full plan pages for New Endowment 714 and Jeevan Labh 736.
• If you want income for a child’s goals with family protection, try the Jeevan Lakshya calculator.