The country’s largest and most trusted insurance company, Life Insurance Corporation of India (LIC), has announced the launch of two significant new products for the Indian market. These plans, available for sale from October 15th, are called ‘LIC Jan Suraksha’ and ‘LIC Bima Lakshmi’. Both plans are non-linked and non-participating, meaning they will remain unaffected by market fluctuations, ensuring 100% security for your investment.
Learn about the complete and detailed information about ‘Jan Suraksha’, a special plan for the low-income group, and ‘Bima Lakshmi’, a plan that offers the dual benefits of savings and insurance for the middle class.
Two New Products of LIC
The Life Insurance Corporation of India (LIC) has announced in an exchange filing that it has launched two significant new products for the domestic market. These plans have been specifically designed to meet the diverse needs of the general public, providing investors with more secure investment options.
Both plans are non-linked, meaning their performance is not linked to the stock market, and non-participating, meaning they offer no bonuses. Because of this feature, investments made in them are considered completely safe.
LIC Jan Suraksha
The LIC Jan Suraksha Plan is specifically designed to meet the needs of low-income individuals. This plan provides insurance protection at a very low premium, making insurance affordable and reliable even for those with limited incomes.
Jan Suraksha Plan is a microinsurance plan, meaning it is designed to meet the needs of economically weaker sections of society. Such plans typically offer low premiums and convenient payment options. It is a non-participating and non-linked insurance plan, meaning it is neither market-linked nor offers any bonuses. Its primary goal is to ensure life protection at a low cost.
LIC Bima Lakshmi Plan
The LIC Bima Lakshmi Plan is brilliantly designed to meet the needs of middle-class individuals. This plan offers life insurance protection along with robust savings benefits.
The key feature of this plan is that the maturity amount is received upon completion of the policy term, making it an excellent savings tool. This plan is also not market-linked, so investments made in it remain completely safe.
Bima Lakshmi Plan is also a non-participating and non-linked plan, which means its returns are independent of market performance, and there is no provision for bonuses. It is ideal for individuals who want insurance protection as well as a fixed savings benefit.