LIC New Endowment Plan Calculator: Estimate Premiums & Maturity Instantly

1. Introduction

You want quick estimates for premiums, maturity benefits, and total payouts. The LIC new endowment plan calculator provides them free online. This tool handles a savings and protection plan that mixes guaranteed returns with life cover.

Your family gets security, and your wealth builds steadily. You avoid branch visits or agent calls because results arrive instantly from official LIC rates. Consider a 30-year-old investing 5 lakhs over 20 years. Maturity hits around 8-9 lakhs with bonuses added.

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2. About the Plan - Key Details

Plan Overview: LIC's New Endowment Plan (714) creates steady savings and life protection. This participating endowment insurance uses UIN 512N277V03.

Eligibility and Age Criteria: Entry age covers 8 to 55 years based on nearest birthday. The nearer birthday method delivers exact age calculation.

Policy Term and Premium Options: Select terms between 12 and 35 years to fit life milestones. Premium paying term matches the policy term exactly. You pay yearly, half-yearly, quarterly, or monthly.

Sum Assured: Minimum sum assured begins at 2 lakhs. Affordability determines the upper limit.

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3. Key Features & Benefits

Maturity Benefits: Benefits focus on security and growth you can count on. Maturity delivers the full sum assured, plus vested simple reversionary bonuses (SRB) and a final additional bonus (FAB).

Death Benefit: If death occurs during the term, your nominee receives 125% of the sum assured or 7 times the annualized premium, whichever exceeds the other.

Tax Advantages: You deduct premiums under Section 80C to save on taxes. Maturity benefits qualify as tax-free under 10(10D).

Liquidity Options: Access loans up to 90% of surrender value during emergencies. Investments with higher sum assured gain rebates.

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4. How to Use the Calculator

Follow these steps to calculate your premiums and returns:

Step 1: Enter Date of Birth

Opening the form with the "Date of Birth *" field is the right way to start. Either clicking the calendar icon or typing your date manually will work. The tool adjusts age by the closest birthday.

Step 2: Enter Sum Assured

Locating the "Sum Assured (₹) *" field is the next step. From the configuration, at least 1,00,000, which is the minimum, should be entered.

Step 3: Select Policy Term and Mode

Put 12 to 35 years in "Policy Term (Years) *" field. You can choose the "Premium Payment Mode *" from Yearly, Half-Yearly, Quarterly, or Monthly.

Step 4: Calculate and View Outputs

Use the green "Calculate" button. The "Your Results" panel opens on the right. Check annual premium, installment premium, total premiums paid, vested bonus, and maturity amount.