India’s largest insurance company, Life Insurance Corporation of India, has launched two new plans effective October 15, 2025. These plans are LIC Jan Suraksha (Plan 880) and LIC Bima Lakshmi (Plan 881). Both plans are designed for families seeking safe and reliable insurance options at low premiums. Keeping in mind the changing GST regulations and domestic market needs, LIC has developed these plans to provide simple, affordable, and stable insurance services to the general public.
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LIC Jan Suraksha Plan
The LIC Jan Suraksha Plan falls under the microinsurance category, specifically protecting low- and lower-middle-income families. It is a completely non-linked and non-participating policy, meaning it is unaffected by market fluctuations or bonuses. The plan term is 12 to 20 years, with the premium payment period being five years less than the policy term.
After paying premiums for three years, the policyholder receives an auto cover feature, which is considered particularly beneficial for economically disadvantaged individuals. The minimum sum assured is set at ₹1 lakh, while the maximum is up to ₹2 lakh. The plan aims to provide better life protection at a lower premium.
LIC Bima Lakshmi Plan
LIC Bima Lakshmi Plan is designed solely to provide financial security to women. This plan offers life insurance along with money-back benefits, which women can utilise as per their needs. This is also a non-linked and non-participating policy, which is free from market-related risks.
The term of this plan is 25 years, and the policyholder can choose a premium payment period between 7 and 15 years. The minimum sum assured is ₹2 lakh, while the maximum sum assured is determined based on the woman’s income and eligibility.
The most significant feature of the plan is the exclusive critical illness rider available for women, which provides coverage for complications related to cancer, surgery, and pregnancy. After three years, the auto cover feature will also be implemented in this plan, making it an even more reliable option for women.
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Why are these plans special?
The biggest feature of both new plans is that they are risk-free from market fluctuations, ensuring both investment and protection remain stable. While there are no bonuses, the fixed benefits and affordable premiums make them suitable for ordinary families. LIC aims to provide low-income families and women with a better option for both insurance and savings through these plans.
Overall, LIC’s Jan Suraksha and Bima Lakshmi plans will provide a strong foundation for financial security, reliable coverage, and stable investments.