LIC: The Life Insurance Corporation of India (LIC) has made several significant changes to its portfolio on the occasion of the New Year, which not only provide life cover for your family but also have the potential to make you a millionaire in the long run. Whether you’re looking for a pension plan for retirement or a substantial fund for your children’s education, these new and updated LIC policies offer foolproof solutions for every need.
LIC Bima Kavach
Launched at the end of 2025, ‘LIC Bima Kavach’ is a high-cover term insurance plan that is a crucial requirement in today’s times. This plan is ideal for those seeking life cover of ₹2 crore or more at a low premium. The most significant feature of this policy is that it provides coverage up to the age of 100.
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In the event of an unfortunate event, the policyholder’s family receives a substantial sum assured, ensuring their financial future is secure. This plan is especially suitable for families seeking a strong defense against any risks.
LIC New Jeevan Shanti
LIC New Jeevan Shanti has emerged as a powerful option for achieving financial independence after retirement. It is a single-premium plan, meaning you don’t have to deal with the hassle of repeatedly depositing funds. The minimum investment starts at ₹1.5 lakh, with no maximum limit.
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You can choose from monthly, quarterly, half-yearly, or annual pension options as per your convenience. After a 5-year lock-in period, you receive a guaranteed pension for life. The larger the investment, the greater your monthly pension, providing you with the ultimate self-reliance in your old age.
LIC Jeevan Anand
LIC Jeevan Anand remains the most reliable and popular policy for the common man. Its most significant feature is its unwavering promise of “lifelong, lifelong.” For example, if a 35-year-old purchases a 35-year lifelong policy with a sum assured of ₹5 lakh, they will need to deposit only ₹1,400 per month (₹16,300 annually).
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Over the entire term, they will accumulate approximately ₹5.70 lakh, but upon maturity, they will receive a solid corpus of approximately ₹25 lakh, including bonuses. Furthermore, it offers the benefit of a solid tax exemption under Section 80C of the Income Tax Act, making your savings even more robust.
LIC Jeevan Shiromani
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LIC Jeevan Shiromani is a premium and steel-based life insurance plan for the high-income group. It is a non-linked plan, which means your money is completely protected from stock market risks. If a 30-year-old chooses a 20-year steel policy with a sum assured of ₹1 crore, they will have to pay an annual premium of approximately ₹7.59 lakh for 16 years.
This plan offers long-term, strong returns and money-back benefits for a short-term investment. It is suitable for those who want to maintain their strong lifestyle and provide strong protection to their assets.
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Benefits of Taking an LIC Policy
Investing in these LIC plans is not just for returns, but like laying the foundation for a strong future. Here, you get life protection, tax benefits, and periodic bonuses all rolled into one. However, before making any decisive decisions, carefully assess your age, future goals, and risk profile. In LIC’s traditional plans, your money grows with unwavering security, offering greater reliability than any private plan. Remember, only a sound financial plan can protect you from financial hardship in old age.