On October 14, the country’s largest life insurance company, Life Insurance Corporation of India, announced through an exchange filing that it is launching two new insurance products. These plans, called LIC Jan Suraksha and LIC Bima Lakshmi, will be available to customers from October 15, 2025. LIC has launched these two plans at a time when people are looking for reliable protection and savings options at low premiums. The company claims that these two plans have been designed keeping in mind the needs of different segments, so that everyone can get protection according to their means.
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What is LIC Jan Suraksha?
LIC Jan Suraksha is a micro insurance plan specifically designed for people in the low and lower middle income groups. This plan falls under the non-linked and non-participating category, meaning it is unaffected by market fluctuations or bonus structures. The primary objective of this plan is to provide insurance coverage to individuals who, due to limited income, cannot afford the premiums of expensive policies. The premiums are kept very affordable, and the payment options are simple, so that more and more people can benefit from this plan. This plan is considered a major step towards financial security.
LIC Bima Lakshmi
LIC’s second plan, Bima Lakshmi, is a combination of life insurance and savings. This plan also falls under the non-linked and non-participating category, making its returns unaffected by market uncertainties. The highlight of this plan is that it offers life coverage along with a lump sum benefit upon completion of the policy term. This plan is ideal for consumers who want protection and disciplined savings in a single product. This plan offers a balance of stable returns and reliable protection, making it attractive to a wide range of consumers.
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Who can avail these plans?
Both new LIC plans have been designed keeping in mind different needs and income groups. While Jan Suraksha provides coverage to individuals with limited income at a lower premium, Bima Lakshmi is a better option for those who want to build a secure financial future with a lump sum at the end of the policy. Both plans will be available for purchase from October 15, 2025, and information regarding their specific terms and eligibility will be released by LIC from time to time.