LIC new insurance schemes 2025: The country’s most trusted insurance company LIC ( Life Insurance Corporation of India) has announced the launch of two new policies for its customers. In an exchange filing, LIC said that it is introducing two new schemes ‘LIC’s Jan Suraksha’ and ‘ LIC’s Bima Lakshmi’ from October 15, 2025. Both these schemes have been specially designed for the domestic market and have been created keeping in mind the different needs of the common people.
LIC said that both the schemes fall under the Non-Participating (Non-Par) and Non-Linked category, which means they will have nothing to do with the market or bonus .
LIC Jan Suraksha
This is a life microinsurance scheme. It is a non-participating, non-linked individual savings insurance plan. The advantage of this plan is that if the policyholder unfortunately dies during the policy term, their family will receive financial assistance. If the policyholder survives, they will receive a lump sum payment upon maturity.
This is an endowment plan that also offers guaranteed additions. These guaranteed additions will be added annually at the rate of 4% of the annualized premium throughout the policy term. To purchase this plan, you must be at least 18 years old and at most 55 years old.
The minimum basic sum assured in this plan is ₹100,000. The maximum basic sum assured per person is ₹200,000. The basic sum assured will be in multiples of ₹5,000. The policy term for the Jan Suraksha Plan can range from 12 to 20 years. The premium payment period will be 5 years less than the policy term.
What are the features?
This is a life micro insurance plan.
Premiums can be paid for a limited period.
Auto cover facility is available after paying the full premium for three years.
Policy loan facility is available after paying the full premium for one year and completion of the first year of the policy.
Guaranteed additions are available from the beginning till the end of the policy.
Insurance Lakshmi Yojana (881)
The LIC Bima Lakshmi plan is a non-linked plan. It provides life insurance coverage and pays back payments at fixed periods, every 2 to 4 years or after premiums cease. This plan is specifically designed for women. It also covers certain illnesses and offers attractive guaranteed maturity benefits upon maturity.
To purchase this plan, you must be at least 18 years old and a maximum of 50. The policy term is 25 years, while premium payment periods can be chosen from 7 to 15 years. The minimum basic sum assured in this plan is Rs 200,000. There is no maximum basic sum assured per individual. This depends on LIC’s underwriting policy. The basic sum assured can be taken in multiples of Rs 10,000.