Summary
- LIC has launched its New Endowment Plan 714, a non-linked individual savings life-insurance policy effective from September 22, 2025.
- The plan features a minimum basic sum assured of ā¹2 lakh, with entry ages ranging from 8 to 50 years and policy terms between 12 to 35 years.
- Death benefits are calculated using a higher-of formula plus bonuses, while surrender values and tax implications under the Income-tax Act, 2025 are detailed in the sales brochure.
- This policy is exempt from GST as of September 22, 2025, but potential buyers must carefully review terms regarding maturity exemptions and premium deductions.
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