Calculate premium & maturity for LIC's New Endowment Plan (UIN: 512N277V03) — a Par, Non-Linked, Individual Savings Plan. All 4 payment modes supported.
| Year | Cumulative Premium | Cumulative Bonus | Death Benefit | Maturity Value |
|---|
LIC's New Endowment Plan (UIN: 512N277V03) is a Par, Non-Linked, Life, Individual Savings Plan from Life Insurance Corporation of India. It offers dual benefits — life protection for the family in case of death during the term, and a lump-sum maturity payout for the surviving policyholder. Updated in 2024, this plan is ideal for risk-averse individuals who want guaranteed savings backed by India's largest insurer. From 22 September 2025, premiums are fully exempt from GST, making the plan even more affordable.
Death benefit for family security and maturity payout for the policyholder's long-term goals.
Earns Simple Reversionary Bonus (SRB) declared annually and Final Additional Bonus (FAB) at maturity.
Yearly (2% rebate), half-yearly (1% rebate), quarterly, or monthly via NACH bank mandate.
₹2.50 per ₹1,000 for BSA ₹5L–₹10L and ₹4.00 per ₹1,000 for BSA ₹10L+, reducing premium further.
GST on all individual life insurance premiums including this plan is now 0% — you pay only the base premium.
Accident, ADDB, Term Assurance, and Premium Waiver riders available on extra premium.
Borrow up to 75% of surrender value for liquidity needs after 2 years of premium payments.
Receive maturity or death benefit in instalments over 5, 10, or 15 years instead of lump sum.
On death during the policy term, the nominee receives the Sum Assured on Death (higher of BSA or 7× annualised premium), plus all vested SRBs and FAB, if any. Total death benefit is always at least 105% of total premiums paid up to the date of death.
On surviving the policy term with all premiums paid, the payout equals BSA + vested SRB + FAB. The BSA itself is guaranteed; bonus additions depend on LIC's annual declarations.
As a participating plan, the policy earns SRBs declared annually from LIC's Non-Linked, Participating Fund. Once declared, bonuses are guaranteed. FAB is declared in the year the policy results in a claim.
Effective 22 September 2025, under GST Reforms 2.0 (Notification No. 16/2025 Central Tax), all individual life insurance premiums in India are fully exempt from GST. This includes all premium payment modes for LIC's New Endowment Plan. LIC has confirmed it has passed on the full benefit to customers. The earlier structure of 4.5% GST in Year 1 and 2.25% from Year 2 no longer applies. You pay only the net base premium — nothing extra.
| Age | 15-Year Term | 25-Year Term | 35-Year Term |
|---|---|---|---|
| 20 years | ₹14,543 | ₹8,369 | ₹5,949 |
| 30 years | ₹14,592 | ₹8,497 | ₹6,213 |
| 40 years | ₹14,847 | ₹8,987 | ₹6,958 |
Source: LIC official brochure (2024). Premiums exclude rider premiums. No GST applicable from Sept 2025.
Surrender is allowed after one policy year. Guaranteed Surrender Value (GSV) applies after 2 full years. Surrender value = higher of GSV or Special Surrender Value (SSV).
Loans up to 75% of surrender value after 2 full years' premiums. Loan interest for 2024–25: 9.5% p.a. compounding half-yearly.
Lapsed policies can be revived within 5 years from the first unpaid premium date by paying all arrears with 9.5% p.a. compound interest.
LIC's New Endowment Plan is a participating, non-linked individual savings plan combining guaranteed life cover with long-term savings. At maturity the policyholder receives the Basic Sum Assured plus all accumulated bonuses. On death during the term, the nominee receives a higher death benefit (max of BSA or 7× annual premium) along with bonuses.
No. Effective 22 September 2025 under GST Reforms 2.0, all individual life insurance premiums are fully exempt from GST across all payment modes. LIC has passed the full benefit to customers. You now pay only the net base premium with zero tax on top.
The minimum Basic Sum Assured is ₹2,00,000 with no upper limit (subject to underwriting). BSA multiples are ₹5,000 up to ₹4.5L, ₹50,000 from ₹4.5L–₹9L, and ₹1,00,000 above ₹9L.
Yes. Monthly premiums are allowed only via NACH bank mandate. No mode rebate applies and no GST is added (effective Sept 2025). The monthly instalment equals the annual net premium divided by 12.
The death benefit is the Sum Assured on Death (higher of BSA or 7× annualised premium) plus all vested Simple Reversionary Bonuses and Final Additional Bonus. The total is always at least 105% of all premiums paid up to the date of death.
SRB is an annual bonus declared by LIC as a fixed rupee amount per ₹1,000 of Basic Sum Assured. Once vested it forms a guaranteed addition. This calculator uses illustrative rates of ₹46/₹1,000 (conservative) and ₹58/₹1,000 (optimistic).
FAB is a one-time bonus paid when the policy results in a claim (death or maturity). It is not payable on paid-up policies. This calculator illustrates ₹710/₹1,000 (conservative) and ₹1,330/₹1,000 (optimistic).
Higher sum assureds attract a discount: ₹2.50 per ₹1,000 BSA for SA ₹5L–₹10L, and ₹4.00 per ₹1,000 BSA for SA ₹10L and above. The calculator applies this rebate automatically.
Yes. After 2 full years of premium payments, loans up to 75% of surrender value are available for in-force policies (65% for paid-up). Loan interest for 2024–25 is 9.5% p.a. compounding half-yearly.
Stopping before one full year causes all benefits to lapse after the grace period. After at least one full year the policy converts to paid-up with reduced benefits proportional to premiums paid. A lapsed policy can be revived within 5 years by paying arrears with 9.5% p.a. compound interest.
30 days grace applies for yearly, half-yearly, and quarterly modes; 15 days for monthly mode. The policy remains fully in force during the grace period. If unpaid after the grace period, the policy lapses.
Premiums qualify for Section 80C deduction (up to ₹1.5L per year). Maturity proceeds are tax-free under Section 10(10D) if the annual premium does not exceed 10% of the BSA (for policies issued after 1 April 2012). With GST now at 0%, the full premium qualifies for the 80C deduction.
No. LIC's New Endowment Plan is available only offline through licensed agents, corporate agents, brokers, or Insurance Marketing Firms. It is not available for direct online purchase on LIC's website.
This calculator uses LIC's official published sample premium table, actual mode rebates, and high-SA rebates from the 2024 product brochure. GST is correctly shown as ₹0. Bonus projections are illustrative per IRDAI regulations. Actual premiums may differ slightly due to age rounding. Verify with a licensed LIC agent for a precise quote.
