LIC New Endowment Plan 814 is the older version of LIC's regular-premium endowment policy, replaced by Plan 914 on 1 February 2020. You pay premiums for the full 12 to 35-year term and receive the sum assured plus bonuses at maturity. For a 30-year-old with ₹10 lakh cover and a 20-year term, the yearly premium is about ₹52,003.
New Endowment 814 Premium & Maturity Calculator
Your estimate
- Premium per instalment
- ₹26,001
- Premium paying term
- 20 years
- Total premium paid
- ₹5,20,020
- Total bonus (estimated)
- ₹4,45,000
- Sum assured on deathplus bonuses accrued; never below 105% of premiums paid
- ₹6,25,000
- Age at maturity
- 50 years
- Approx. return (IRR)
- 5.40%
- Total premium paid₹5,20,02055%
- Net gain₹4,24,98045%
Individual life insurance premiums are exempt from GST from 22 September 2025. Figures are estimates based on typical rates and may differ from LIC’s official quote.
What is LIC New Endowment Plan 814?
LIC New Endowment Plan 814 (UIN 512N277V01) is a non-linked, with-profit, regular premium endowment plan. It combines life cover with a lump sum at maturity. It was the version sold until early 2020, when Plan 914 replaced it. Today’s version is Plan 714.
If you hold an 814 policy, your terms have not changed. The calculator above rebuilds your premium, maturity estimate and death cover.
Plan 814 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 814 / 512N277V01 |
| Status | Withdrawn (replaced by 914 in 2020) |
| Entry age | 8 to 55 years |
| Policy term = premium paying term | 12 to 35 years |
| Maximum maturity age | 75 years |
| Minimum sum assured | ₹1,00,000 (multiples of ₹5,000) |
| Premium modes | Yearly, half-yearly, quarterly, monthly |
| Maturity | Sum assured + bonuses + final additional bonus |
| Death benefit | Higher of 125% of SA or 10× annual premium, plus bonuses |
How the premium works
LIC sets a rate per ₹1,000 sum assured by age and term. It then gives a high sum assured rebate (₹2 per ₹1,000 from ₹2 lakh, ₹3 from ₹5 lakh) and a mode rebate of 2% for yearly or 1% for half-yearly payment. Our estimate interpolates between rate points for ages 20 to 50 and terms of 15, 25 and 35 years, so treat it as approximate.
Example 1: age 30, ₹10 lakh, 20 years: about ₹52,003 a year, or ₹10,40,060 over the term.
Example 2: age 35, ₹5 lakh, 25 years, monthly: about ₹1,625 a month (₹19,080 if paid yearly), or ₹4,87,500 in total at the monthly rate.
GST no longer applies from 22 September 2025. Before that, renewal receipts showed 2.25% GST on top.
Tip: the premium on your receipt is the most accurate figure. If it differs slightly from the estimate, the maturity and death benefit calculations still hold, because they depend on the sum assured.
Maturity benefit
| Scenario | Total premium | Estimated maturity | Approx. return |
|---|---|---|---|
| Age 30, ₹10 lakh, 20 years, yearly | ₹10,40,060 | ₹18,90,000 | 5.40% a year |
| Age 35, ₹5 lakh, 25 years, monthly | ₹4,87,500 | ₹10,50,000 | 5.49% a year |
These use assumed bonuses of ₹42 per ₹1,000 a year and a ₹50 per ₹1,000 final bonus. LIC declares actual rates every year, so change the inputs to test a lower or higher figure.
Death benefit
After risk commencement, the nominee receives the sum assured on death: the higher of 125% of the basic sum assured or 10 times the annualised premium. All vested bonuses and any final additional bonus are added, and the total is never below 105% of premiums paid. That makes a ₹10 lakh policy worth at least ₹12.5 lakh plus bonus to the family.
Loan, surrender and paid-up
Once the policy has acquired a surrender value, you can take a loan against it or surrender it. The exact conditions are in your policy bond. A policy that stops paying after that point becomes paid-up with a reduced sum assured instead of lapsing entirely. Compare the numbers in our LIC surrender value calculator before deciding.
Tax benefits
Premiums qualify under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) (old regime). Maturity and death proceeds are generally exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)), subject to the premium conditions in the Act.
Plan 814 vs 914 and 714
All three versions keep the same shape: premiums for the full term, a lump sum with bonuses at maturity, and at least 125% of the sum assured as death cover.
- 914 (2020): refiled under IRDAI’s 2019 rules. The alternative death cover test changed from 10 times to 7 times the annualised premium.
- 714 (2024): the minimum sum assured is ₹2 lakh, the maximum entry age is 50, and surrender values follow the 2024 norms.
New buyers should look at Plan 714. 814 policyholders simply keep paying until maturity.
How to use this calculator
Enter the age at entry, term, sum assured and mode from your policy, and set the bonus assumptions. The results show the premium, maturity estimate, death cover and approximate return. All figures are indicative.
Frequently asked questions
Is LIC New Endowment Plan 814 still sold?
No. Plan 814 was replaced by New Endowment Plan 914 on 1 February 2020, and 914 itself gave way to Plan 714 in October 2024. Existing 814 policies continue with their original terms and keep earning bonuses until maturity.
What will I get at maturity from Plan 814?
The basic sum assured plus all simple reversionary bonuses and any final additional bonus. For ₹10 lakh over 20 years, with assumed bonuses of ₹42 per ₹1,000 a year and a ₹50 per ₹1,000 final bonus, the estimate is about ₹18.9 lakh.
What is the death benefit in New Endowment 814?
The nominee gets the higher of 125% of the basic sum assured or 10 times the annualised premium, plus accrued bonuses. The claim is never below 105% of premiums paid, so a ₹10 lakh policy pays at least ₹12.5 lakh plus bonus.
Why did I pay GST on my 814 premium earlier but not now?
Renewal premiums on traditional plans carried 2.25% GST until 21 September 2025. For a ₹52,003 yearly premium, that meant about ₹53,173. From 22 September 2025, individual life insurance premiums are GST-exempt.
What is the minimum sum assured under Plan 814?
The minimum basic sum assured was ₹1,00,000, in multiples of ₹5,000, with no upper limit. Larger policies received a high sum assured rebate on the premium.
Should I surrender my old 814 policy?
Usually not in the later years. Surrender value is only a part of what you have paid plus bonuses, while staying on gives the full maturity value. Estimate both first and consider a policy loan if you need cash for a short period.
Disclaimer: LIC Premium Calculators is an independent website. We are not affiliated with, endorsed by or connected to Life Insurance Corporation of India. All figures are estimates for illustration; confirm exact premiums and benefits with LIC or a licensed agent before buying.