LIC Endowment Plan 814 Maturity Calculator

Complete Guide to LIC Endowment Plan 814 (New Endowment Plan)

Launched in January 2014 following IRDAI's landmark non-linked product reforms, LIC Endowment Plan 814 (Table 814) is one of the most widely subscribed participating traditional endowment policies in the history of the Life Insurance Corporation of India (LIC). Designed for individuals seeking guaranteed capital protection coupled with annual participating profits, Plan 814 provides a powerful combination of financial security for dependent family members and an attractive lump-sum maturity corpus upon policy completion.

In February 2020, LIC transitioned Table 814 to LIC Plan 914 to conform to newer IRDAI regulatory guidelines. However, tens of millions of Indian policyholders currently hold active in-force policies under Table 814 purchased between 2014 and 2020. Using this dedicated LIC Endowment Plan 814 Maturity Calculator, policyholders can track their accumulated Simple Reversionary Bonuses, estimate Final Additional Bonuses (FAB), verify year-by-year surrender values, and check exact loan borrowing eligibility.

Key Eligibility Criteria & Technical Parameters for Plan 814

The table below outlines the core policy boundary parameters of LIC Table 814:

Simple Mathematical Formulas for Plan 814 Maturity & Premium

Calculating returns on LIC Table 814 follows clear, transparent arithmetic:

Declared Reversionary Bonus Slabs for LIC Plan 814

Simple Reversionary Bonuses are declared annually per thousand Sum Assured based on LIC's participating valuation profits:

Final Additional Bonus (FAB) Rates Scale

Final Additional Bonus (FAB) is a powerful terminal booster granted to loyal policyholders who maintain their policy for 15 years or longer:

Year-by-Year Declared Bonus History for LIC Table 814 (2014 to 2026)

LIC conducts an annual actuarial valuation of its Life Fund surplus. The table below illustrates the steady simple reversionary bonus declared for Plan 814 across valuation cycles:

Age-Wise Annual & Daily Premium Matrix for Plan 814 (With 4.5% 1st Yr GST)

Practical Case Studies & Illustrative Scenarios

Comprehensive Comparison: LIC Plan 814 vs. PPF vs. Bank Fixed Deposits

Historical Evolution: Table 14 vs. Table 814 vs. Table 914

To understand the actuarial legacy of LIC's endowment series, consider how the product has evolved over three regulatory eras:

Comprehensive Maturity Payout Matrix Across Tenures & Sum Assured Slabs

The table below projects total tax-free maturity payouts (Basic Sum Assured + Simple Reversionary Bonuses + Final Additional Bonus) for policyholders across key terms:

How to Revive a Lapsed LIC Plan 814 Policy

If your Table 814 policy lapsed due to unpaid premiums, you can revive it within 5 consecutive years from the date of the first unpaid premium (FUP):

• Ordinary Revival: Pay all unpaid arrears of premium with compounding late fee interest (typically 9.5% p.a.) along with a satisfactory Declaration of Good Health (Form 300 / 340).
• Special Revival Scheme: If you cannot pay arrears at once, LIC allows advancing the commencement date of the policy by up to 2 years, adjusting past payments.
• Loan-cum-Revival: If the policy has acquired a surrender value, you can utilize an instant policy loan to settle the unpaid premium arrears in a single step!

Maturity Claim Settlement & Documentation Process

As your Table 814 policy reaches maturity, follow this streamlined settlement protocol:

1. Maturity Intimation (Form 3825): LIC automatically sends a maturity discharge voucher (Form 3825) approximately 2 months prior to the maturity date.
2. Submission of Original Policy Document: Submit the original policy bond endorsed with the policyholder's signature across a revenue stamp.
3. Bank Details & KYC: Submit a copy of your bank passbook / cancelled cheque with printed name and IFSC code, accompanied by Aadhaar and PAN Card copies for direct NEFT disbursement.

Surrender Value, Paid-Up Status & Policy Loan Rules

Understanding policy liquidity ensures you make informed decisions during financial distress:

• Surrender Value Eligibility: A Plan 814 policy can be surrendered after paying at least 2 consecutive full policy years' premiums. Calculate your surrender proceeds with our LIC Surrender Value Calculator.
• Guaranteed Surrender Value (GSV): Calculated as a percentage of total premiums paid (excluding taxes & riders), ranging from 30% in Year 2 up to 90% in Year 30, plus the discounted value of accrued bonuses.
• Paid-Up Policy Option: If you stop paying premiums after 2 years, the policy does not lapse. It converts into a "Paid-Up" policy where the reduced Sum Assured = Basic SA × (Number of Premiums Paid / Total Premiums Payable).
• Policy Loan: Borrow up to 90% of the surrender value for in-force policies and up to 80% for paid-up policies at ~9% to 9.5% interest payable half-yearly. Calculate policy loans with our LIC Policy Loan Calculator.

Tax Benefits Under Section 80C & Section 10(10D)

According to the Income Tax Department of India:

• Section 80C Deduction: Premiums paid towards LIC Plan 814 qualify for tax deduction up to ₹1,50,000 per financial year under the Old Tax Regime.
• Section 10(10D) Tax Exemption: Entire maturity proceeds, annual simple reversionary bonuses, and Final Additional Bonus (FAB) received are completely exempt from income tax with zero TDS.

Key Operational Differences Between Plan 814 and Plan 914 for Existing Policyholders

If you purchased your policy before February 2020, your contract remains strictly bound by Table 814 terms and conditions. Here are the key contractual distinctions to remember:

• Grace Period: You are entitled to a 30-day grace period for yearly, half-yearly, and quarterly premium payment modes, and 15 days for monthly NACH mode without late fee penalties.
• Uninterrupted Bonus Accumulation: Even though Table 814 is withdrawn for new sales, LIC continues to declare annual participating bonuses for Table 814 at parity with Table 914.
• No Retrospective Premium Changes: Your premium rates, high Sum Assured rebates, and maturity date remain fixed and guaranteed as printed on your original policy bond.

Key Clauses to Verify in Your Original Plan 814 Policy Bond

To ensure your policy records are updated and ready for maturity or loan processing, examine these key entries in your original Table 814 policy bond:

• Policy Schedule Table: Verifies the exact Table No. (814), policy commencement date (DOC), date of maturity, sum assured, and modal premium installment.
• Nomination Registration (Section 39): Ensure your spouse, parent, or adult child is officially registered as the primary nominee with their updated bank details and KYC on the LIC portal.
• First Unpaid Premium (FUP) Date: Keep track of your exact due date and grace period (30 days for yearly/half-yearly modes, 15 days for monthly NACH).
• Accidental Rider Endorsement: Check whether the AB/AD&DB rider stamp is embossed on the first page of the policy bond.

How to Use This LIC Plan 814 Maturity Calculator

1. Input Entry Age & Term: Select your age when the policy was started (8 to 55) and chosen tenure (12 to 35 years).
2. Select Basic Sum Assured: Input the face value of your life cover (e.g. ₹5 Lakhs, ₹10 Lakhs, ₹25 Lakhs).
3. Select Start Year: Choose the commencement year (2014 to 2020) to track accrued bonuses and surrender value.
4. Review Results: View your exact total maturity value, accrued bonus breakdown chart, annual premium schedules, and loan limits instantly.

Frequently Asked Questions (FAQs)

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