LIC's new endowment plan includes modifications compared to its previous Table No. 14 plan. Key changes include: 1) The death benefit is now defined as the higher of the basic sum assured or 10 times the annual premium, called "Sum Assured on Death". 2) The minimum age at entry is reduced from 12 to 8, and the maximum policy term is reduced from 55 to 35 years. 3) The percentage of the surrender value payable as a loan now depends on the policy term, ranging from 90% for shorter terms to 50% for longer terms. 4) Guaranteed surrender value percentages are modified and now depend on both policy term and year of surrender.

1. LIC’s NEW ENDOWMENT PLAN
Table No. 814

2. Table No. 14
Endowment Assurance Plan
Table No.814
New Endowment Plan
Maturity Benefit Maturity Benefit
Basic Sum Assured along with
Vested Simple Reversionary
Bonuses and Final Additional
Bonus, if Any.
Basic Sum Assured along with
Vested Simple Reversionary Bonuses and
Final Additional Bonus, if Any.
Death Benefit Death Benefit
Sum Assured (SA) along with
Vested Simple Reversionary
Bonuses and
Final Additional Bonus, if any.
‘Sum Assured on Death’ along with Vested
Simple Reversionary Bonuses and Final
Additional Bonus, if any.
The death benefit as defined above shall not be
less than 105% of total premiums* paid as on the
date of death.
Modified ‘Sum
Assured on
Death' instead
of SA.
No
change
LIC’s New Endowment Plan – Benefits

3. What is Sum Assured on Death?
Sum Assured on Death shall be Higher of ~
Basic Sum Assured (BSA)
OR
10 times Annualised Premium.(10 x AP).
[*The premiums mentioned in death benefit are excluding taxes, extra premiums
and premiums for riders, if any]
LIC’s New Endowment Plan – Benefit on Death

4. Particulars
Table No. 14
Endowment Assurance Plan
Table No. 814
New Endowment Plan
Age at entry 12 to 65 years 8 to 55 years
Age at
Maturity
Maximum 75 years Maximum 75 Years
Policy Term 5 to 55 years 12 to 35 years
Premium
mode
Yearly, Half-yearly,
Quarterly, Monthly (SSS or
ECS)
Yearly, Half-yearly,
Quarterly, Monthly (SSS or
ECS)
Basic Sum
Assured
50000 and above
100000 and above
( In multiples of 5000)
Eligibility Conditions and Restrictions
LIC’s New Endowment Plan
Age at
entry
modified
Minimum
Sum
Assured
Modified
Policy
term
modified

5. Mode
Rebate
Table No. 14 Table No. 814
Yearly 3% of tabular Premium 2% of tabular premium
Half-yearly 1.5% of tabular premium 1% of tabular premium
Quarterly Nil Nil
Table No 14
Endowment Assurance Plan
Table No. 814
New Endowment Plan
Basic Sum Assured Rebate (Rs.) Basic Sum Assured Rebate (Rs.)
100001 and above 2.00‰ SA 5,00,000 and above 3.00‰ BSA
50001 to 100000 1.00‰ SA 2,00,000 to 4,95,000 2.00‰ BSA
Upto 50000 Nil <1,95,000 Nil
Slab & Rate
modified
Rate
modifie
d
LIC’s New Endowment Plan ~ Rebates

6. Table No. 14
Endowment Assurance Plan
Table No. 814
New Endowment Plan
Available after payment of 3 full
years premiums.
Available after payment of 3 full
years premiums.
Loan granted shall be 90% of the
Surrender Value in case of inforce
policies and 85% of the Surrender
Value in case of Paid-up policies
irrespective of the policy term.
The maximum amount of loan that
can be granted as a percentage of
Surrender Value shall depend on
the Policy Term, as given in the
table below.
Foreclosure action was initiated on
default of 2 or more half-yearly
loan interest installments.
Foreclosure action shall not be
taken under fully paid-up and
inforce policies even if there is
default of loan interest.
Policy Term Upto 23 24 to 27 28 to 31 32 to 35
% for inforce policies 90% 80% 70% 60%
% for Paid-up policies 80% 70% 60% 50%
% of loan
modified
LIC’s New Endowment Plan ~ Policy Loan

7. Table No.14 Table No. 814
Guaranteed Surrender Value (GSV) Guaranteed Surrender Value (GSV)
Available after payment of 3 full years
premiums.
Available after payment of 3 full years
premiums.
GSV shall be equal to 30% of the total
premiums paid less First Year Premium
and extra premium, if any.
GSV shall be a percentage of total
premiums paid (net of taxes) excluding
extra premium, if any and premium paid
for riders,if opted for.
Examples of GSV factors applicable for
total premiums paid
Policy Year ~ GSV factor
3 = 30%
5 = 50%
t -1 = 80% (t=Policy Term)
Cash Value of vested bonuses, if any. GSV factor applicable to vested bonus,if
any. Examples of Vested bonus factors –
Year of SV – Policy Term – Factor
3 12 18.60%
19 25 20.85%
LIC’s New Endowment Plan ~ Surrender Value
GSV %
modified
Bonus
Payable
modified
No
Change

8. Table No. 14
Endowment Assurance Plan
Table No. 814
New Endowment Plan
Special Surrender Value (SSV) Special Surrender Value (SSV)
Surrender Value shall be the
discounted value of the Paid-up Sum
Assured and vested simple
reversionary bonuses.
Surrender Value shall be the
discounted value of the Paid-up Sum
Assured and vested simple
reversionary bonuses.
The discount factors shall be
surrender value factors as provided in
Table-1A of the Special Surrender
Value Booklet and will depend upon
the policy term and duration elapsed
since the commencement of the policy.
The discount factors shall be
surrender value factors as provided in
Table-1A of the Special Surrender
Value Booklet and will depend upon
the policy term and duration elapsed
since the commencement of the policy.
Surrender Value Payable Surrender Value payable
The Higher of Guaranteed Surrender
Value and Special Surrender Value
shall be payable.
The Higher of Guaranteed Surrender
Value and Special Surrender Value
shall be payable.
No change in SSV
LIC’s New Endowment Plan

9. Table No 14
Endowment Assurance Plan
Table No 814
New Endowment plan
A Policy may be revived within a
period of 5 years from the date of first
unpaid premium.
A Policy may be revived within a
period of 2 years from the date of first
unpaid premium.
Taxes, if any , were borne by the
corporation.
Taxes, if any, shall be applicable at the
prevailing rates and borne by the
policyholder as per rules.
There shall be no change in the
following Items
Back Dating
Grace Period
Paid-up Value
Assignment/Nomination
LIC’s New Endowment Plan ~ Table No. 814

10. • ‘Sum Assured on Death’ has been defined
separately.
• Age at entry has been reduced.
• Percentage of Loan payable as a percentage of
Surrender Value shall depend upon policy term.
• GSV percentage shall also depend on policy term
and year of Surrender.
• Rebates for high SA and premium mode modified.
LIC’s New Endowment Plan –
Changes over Table No.14