Default-scenario numbers assume a 30-year-old buying
₹5 lakh
sum assured at the latest declared bonus rate. Use each plan's calculator
to model your own inputs.
Our Take, Side by Side
LIC Jeevan Lakshya
LIC New Jeevan Lakshya (Plan 733) is a limited-pay endowment built around an income-replacement death benefit: if the life assured dies during the term, the nominee receives 10% of the basic sum assured as annual income every year until the original maturity date, and then the full 110% of BSA plus bonuses at maturity. The premium-paying term is three years shorter than the policy term (e.g., 20-year term, 17-year PPT). For a 30-year-old buying ₹5 lakh BSA for 20 years, the XIRR at current SRB of ₹49/₹1,000 SA/yr (maturity-age band ≤55) and FAB ≈ ₹60/₹1,000 SA at 20 yrs (Plan 733 has its own smaller FAB ladder) is approximately 5–6%. The income-stream death benefit is the plan's defining differentiator.
LIC New Endowment
LIC New Endowment Plan (Plan 714) is the directly selling version of LIC's flagship regular-pay endowment, relaunched in October 2024 under revised IRDAI norms (replacing Plan 914). For a 30-year-old buying ₹5 lakh sum assured over 20 years, the annualised XIRR at current SRB of ₹42/₹1,000 SA/yr and FAB ≈ ₹70/₹1,000 SA at 20 yrs (rising sharply to ₹450 at 25 yrs) works out to approximately 5–6% — modestly ahead of a savings account, with maturity proceeds tax-free under §10(10D) and premiums qualifying for §80C. The seven-times annualised-premium death-benefit floor (down from 10× in the older 914) means the 10% SA rule for 10(10D) is easier to meet. Bonus rates are not contractually guaranteed.