When it comes to life insurance that does more than just protect, LIC’s endowment plans stand out for combining life cover with long‑term savings in one policy. These plans pay a lump sum either on maturity or on death during the term, making them suitable for both protection and goal‑based corpus building.

What Exactly Are LIC Endowment Plans?

LIC endowment plans are life insurance policies designed with two core purposes:

1. Protection: If you pass away during the policy term, your nominee receives the death benefit as per plan rules (usually at least the Sum Assured on Death plus bonuses/guaranteed additions where applicable).
2. Savings: If you survive till the end of the policy term, you receive a maturity benefit based on the basic sum assured plus accrued bonuses or guaranteed additions, depending on the specific product.

Unlike pure term insurance (which only pays on death) or pure investment products (which do not provide life cover), LIC endowment plans offer both insurance protection and long‑term savings in a single contract.

Who Are Endowment Plans Best For?

LIC endowment plans generally suit you if you:

• Want disciplined, long‑term savings with built‑in life cover rather than standalone investments.
• Prefer relatively stable, low‑risk returns over high but volatile market‑linked growth.
• Need to align savings with specific goals such as a child’s education, marriage, or a future lump‑sum requirement.
• Value LIC’s brand trust, regulatory oversight, and conservative investment philosophy.
• Are looking for potentially tax‑efficient savings under Sections 80C and 10(10D), subject to prevailing tax laws.

They are usually not ideal if you:

• Only want the maximum life cover at the lowest premium (a pure term plan is more suitable).
• Aim for aggressive wealth creation through equity or high‑risk market products.
• Need high liquidity and flexibility, because endowment plans are long‑term commitments and early surrender can be costly.

Latest List of LIC Endowment Plans (2026)

As per LIC’s official endowment plans page (updated January 2026), the current endowment‑category products are:

S. No.	Product Name	Plan No.	Broad category use‑case
1	LIC’s Single Premium Endowment Plan	717	Single‑premium endowment, one‑time investment with life cover
2	LIC’s New Endowment Plan	714	Regular‑premium traditional endowment
3	LIC’s New Jeevan Anand	715	Endowment with whole‑life component after maturity
4	LIC’s Jeevan Lakshya	733	Goal‑based family protection and savings
5	LIC’s Jeevan Labh Plan	736	Limited‑premium endowment (shorter PPT, longer cover)
6	LIC’s Amritbaal	774	Child‑focused savings and protection plan
7	LIC’s Bima Jyoti	760	Guaranteed‑benefit endowment with guaranteed additions
8	LIC’s Nav Jeevan Shree	912	Regular‑premium endowment plan
9	LIC’s Nav Jeevan Shree – Single Premium	911	Single‑premium endowment variant
10	LIC’s Bima Lakshmi	881	Women‑only money‑back/endowment‑style plan with periodic benefits

Plan numbers such as 814, 915, 933, 936, 860, 874, 981 that appeared in older product generations or third‑party articles are not the ones shown on the current official endowment‑plans list; always use the latest plan numbers from LIC’s site when presenting to clients.

Understanding the Main Types of LIC Endowment Plans

Below is a corrected, fact‑checked grouping aligned to the current LIC list.

1. Single‑Premium Endowment Plans

Available plans:

• LIC’s Single Premium Endowment Plan (Plan 717).
• LIC’s Nav Jeevan Shree – Single Premium (Plan 911).

How they broadly work:

• You pay the entire premium at the start; there are no future premium obligations.
• The policy runs for a chosen term; life cover is available during the policy term as per the product’s Sum Assured on Death rules.
• On maturity, you receive the maturity benefit (sum assured plus bonuses/guaranteed additions as per plan).

Best suited for:

• Investors with a lump sum from bonus, inheritance, FD maturity, or asset sale.
• People who dislike long‑term periodic premium commitments.
• NRIs or retirees who want to park a lump sum in a conservative, insurance‑backed product.

2. Regular‑Premium Endowment Plans

Available plans:

• LIC’s New Endowment Plan (Plan 714).
• LIC’s New Jeevan Anand (Plan 715).
• LIC’s Nav Jeevan Shree (Plan 912).

How they work in general:

• You pay premiums regularly (yearly, half‑yearly, quarterly, or monthly) for the chosen policy term or premium paying term.
• Bonuses (for participating plans) or guaranteed additions (for relevant non‑par plans) accrue as per plan rules.
• On survival to maturity, the policy pays the maturity benefit; on death during the term, it pays the death benefit.

Best for:

• Salaried individuals with stable income who prefer to build corpus gradually.
• Families who want a combination of savings and life cover from a trusted insurer.
• People seeking long‑term “forced savings” discipline.

3. Limited Premium Payment Endowment Plans

Prominent plan:

• LIC’s Jeevan Labh Plan (Plan 736), categorized as an endowment plan with limited premium payment.

Key idea:

• You pay premiums only for a limited period (shorter premium payment term), but the policy continues for a longer term with cover and benefits.
• Suitable if you want to finish premiums early while retaining cover and maturity benefits.

4. Goal‑Based Family Protection and Child Plans

Relevant plans in the endowment list:

• LIC’s Jeevan Lakshya (Plan 733) – family‑oriented endowment with emphasis on protection and goal funding.
• LIC’s Amritbaal (Plan 774) – a child‑centric plan for building funds for education and other milestones, with protection features built in.

These plans are typically used when you want premiums to support specific goals like a child’s higher education or key family milestones, while ensuring that if the earning member dies, the goal still receives funding.

5. Guaranteed‑Benefit Endowment Plans

Plan in this segment:

• LIC’s Bima Jyoti (Plan 760).

Characteristics:

• Offers guaranteed additions at a fixed rate per thousand Sum Assured for a specified period, giving more predictability of maturity values.
• Suitable for investors who want high certainty of maturity amounts rather than variable bonuses.

6. Women‑Specific Endowment‑Style Plan

Plan:

• LIC’s Bima Lakshmi (Plan 881), listed under endowment plans and designed exclusively for women.

Broad features:

• Women‑only plan with money‑back or staged benefit structure plus life cover.
• Useful for women who want their own savings and protection vehicle with periodic liquidity.

How to Choose the Right LIC Endowment Plan

You can still follow a structured decision process, but align it with the current product list:

1. Define your main goal
   • Child’s future: Amritbaal, Jeevan Lakshya.
   • Pure savings + cover: New Endowment Plan, Nav Jeevan Shree.
   • Lifetime cover with savings: New Jeevan Anand.
   • Guaranteed additions: Bima Jyoti.
   • Lump‑sum deployment: Single Premium Endowment Plan or Nav Jeevan Shree – Single Premium.
   • Women‑specific planning: Bima Lakshmi.
2. Check your cash‑flow pattern
   • Lump sum available now: choose from single‑premium plans (717 or 911).
   • Stable monthly/annual income: regular‑premium endowment plans.
   • Want premiums to finish early: limited‑premium options like Jeevan Labh.
3. Align with life stage
   • Young earners: longer‑term endowment or Jeevan Labh combinations.
   • Mid‑career parents: Jeevan Lakshya, Amritbaal, New Jeevan Anand.
   • Late‑career / pre‑retirement: limited‑pay and single‑premium endowment options.
4. Compare key plan features
   • Premium paying term vs policy term.
   • Type of benefit (bonus‑based vs guaranteed additions).
   • Available riders (Accident Benefit, Term Rider, Critical Illness, Premium Waiver, where offered).
   • Surrender and loan rules from the sales brochure and Customer Information Sheet.

Why LIC Endowment Plans Continue to Appeal

• Brand trust and claim record: LIC’s long history, regulatory oversight, and large policy base make many conservative investors comfortable using endowment plans for long‑term goals.
• Guaranteed element: The basic sum assured is guaranteed in all these plans, while bonuses/guaranteed additions provide additional benefits depending on the product.
• Tax benefits: Premiums may qualify under Section 80C and benefits may be eligible under Section 10(10D), subject to prevailing tax rules and conditions.
• Disciplined savings: Regular premiums create a habit of saving, which helps many families actually reach long‑term goals instead of postponing them.

Important Points and Common Mistakes

• Do not use endowment policies as your only life cover; ensure you have adequate pure term insurance first, then use endowment plans for the savings + additional protection layer.
• Avoid surrendering in the first few years, as surrender values are low in early durations.
• Choose a realistic Sum Assured by considering inflation and future costs of goals like higher education or retirement.
• Always read the official sales brochure and Customer Information Sheet for each specific plan (714, 715, 717, 733, 736, 760, 774, 881, 911, 912) before recommending or purchasing.

Tax and Regulatory Disclaimer

Tax benefits under Sections 80C and 10(10D) are subject to conditions such as the relationship between premium and sum assured, and may change with amendments to tax laws. You should confirm current rules with a qualified tax advisor and rely on the latest LIC brochures and circulars for product‑specific features.