LIC New Endowment Plan 914 is a regular-premium, with-profit endowment policy sold from 1 February 2020 until 1 October 2024, when Plan 714 replaced it. Premiums run for the full 12 to 35-year term, and maturity pays the sum assured plus bonuses. A 30-year-old with ₹10 lakh cover for 20 years pays about ₹48,940 a year.
New Endowment 914 Premium & Maturity Calculator
Your estimate
- Premium per instalment
- ₹24,470
- Premium paying term
- 20 years
- Total premium paid
- ₹4,89,400
- 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)
- 5.92%
- Total premium paid₹4,89,40052%
- Net gain₹4,55,60048%
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 914?
LIC New Endowment Plan 914 is a non-linked, with-profit, regular premium endowment plan (UIN 512N277V02). It was launched on 1 February 2020 as the successor to Plan 814 and withdrawn on 1 October 2024, when New Endowment Plan 714 took its place.
If you own a 914 policy, it continues exactly as issued. This page explains what you pay, what you will receive and how the plan compares with its newer version.
Plan 914 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 914 / 512N277V02 |
| Sold | 1 Feb 2020 to 1 Oct 2024 |
| 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 (no upper limit) |
| Premium modes | Yearly, half-yearly, quarterly, monthly |
| Maturity | Sum assured + bonuses + final additional bonus |
| Death benefit | Higher of 125% of SA or 7× annual premium, plus bonuses |
How the premium works
A tabular rate per ₹1,000 sum assured is set by age and term. It is reduced by a high sum assured rebate and a mode rebate (2% yearly, 1% half-yearly).
Example 1: age 30, ₹10 lakh, 20 years: about ₹48,940 a year, or ₹9,78,800 over the term.
Example 2: age 35, ₹5 lakh, 25 years, paid monthly: about ₹1,742 a month (₹20,452 if paid yearly).
No GST applies from 22 September 2025. Earlier receipts include 4.5% GST in the first year and 2.25% afterwards.
Tip: enter the exact sum assured and term from your policy bond. The premium chart below the calculator then shows how your premium compares at other ages and terms.
Maturity benefit
At the end of the term, LIC pays the basic sum assured, all simple reversionary bonuses and any final additional bonus. With the calculator’s default assumptions of ₹42 per ₹1,000 a year and a ₹50 per ₹1,000 final bonus:
| Scenario | Total premium | Estimated maturity | Approx. return |
|---|---|---|---|
| Age 30, ₹10 lakh, 20 years, yearly | ₹9,78,800 | ₹18,90,000 | 5.92% a year |
| Age 35, ₹5 lakh, 25 years, monthly | ₹5,22,600 | ₹10,50,000 | 5.02% a year |
Bonus rates are declared by LIC every year and are not guaranteed. Our LIC bonus calculator shows how different rates change the payout.
Death benefit
During the term, after risk has started, the nominee gets the sum assured on death, which is the higher of 125% of the basic sum assured or 7 times the annualised premium. All vested bonuses and any final additional bonus are added. The claim is never less than 105% of premiums paid. For children who joined below age 8, risk began two years after the start date or on the policy anniversary on or after the eighth birthday, whichever came first.
Surrender, loan and paid-up value
- Surrender and loan: available after two full years’ premiums. Check the LIC surrender value calculator before exiting.
- Paid-up: if premiums stop after two years, the policy continues with a reduced sum assured and keeps the bonuses already attached.
- Riders: accident and disability riders, if chosen at the start, stay attached as per your policy.
Tax benefits
Premiums qualify under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) (old regime). Maturity and death claims are generally exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)), subject to the 10%-of-sum-assured premium rule and, for policies issued after 1 April 2023, the ₹5 lakh annual premium limit.
Plan 914 vs 814 and 714
- 814 → 914 (2020): refiled under IRDAI’s 2019 product rules. The alternative death cover test moved from 10 times to 7 times the annualised premium; the 125% of sum assured floor stayed.
- 914 → 714 (2024): the minimum sum assured doubled to ₹2 lakh, the maximum entry age fell from 55 to 50, and surrender values follow the newer, more generous 2024 norms.
The core promise, a lump sum at maturity with bonuses and 125% cover, is the same in all three versions.
How to use this calculator
Enter your age at entry, term, sum assured and mode from the policy bond. Adjust the bonus assumptions for a cautious or optimistic view. The results show the premium, maturity value, death cover and an approximate yearly return. All figures are estimates.
Frequently asked questions
Is LIC New Endowment Plan 914 still available?
No. LIC withdrew Plan 914 for new business on 1 October 2024 and replaced it with New Endowment Plan 714. Existing 914 policies continue with all their benefits, including bonuses, until maturity or claim.
How is the maturity value of Plan 914 calculated?
Maturity value = basic sum assured + all simple reversionary bonuses + final additional bonus, if declared. For ₹10 lakh over 20 years, an assumed bonus of ₹42 per ₹1,000 a year adds ₹8.4 lakh and a ₹50 per ₹1,000 final bonus adds ₹50,000, giving about ₹18.9 lakh.
What is the death benefit under LIC 914?
The nominee receives the higher of 125% of the basic sum assured or 7 times the annualised premium, plus accrued bonuses. The payout is never less than 105% of premiums paid. On ₹10 lakh cover that means at least ₹12.5 lakh plus bonus.
Why is my 914 premium receipt higher than the calculator?
Until 21 September 2025, LIC added GST of 4.5% in the first year and 2.25% after. For the ₹48,940 example that meant about ₹51,142 in year one and ₹50,041 later. From 22 September 2025 individual life policies are GST-exempt, so you pay only the base premium.
What were the age limits in New Endowment 914?
Entry age was 8 to 55 years, the term 12 to 35 years, and the maximum age at maturity 75. The replacement Plan 714 lowered the maximum entry age to 50.
When can I surrender or take a loan on Plan 914?
The policy acquires a surrender value after at least two full years' premiums have been paid. From then on you can surrender it or take a loan against it, up to a share of the surrender value.
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.