LIC Plans: Great news for Life Insurance Corporation of India (LIC) policyholders! LIC, a leading insurance provider in the country, is rolling out three fresh insurance plans starting October 19, 2026. These new offerings include a retirement income solution, comprehensive health coverage, and specialized cancer protection. LIC shared this exciting announcement through a BSE filing on Tuesday, October 13. That said, customers will need to stay tuned for complete details about pricing, who qualifies, and the specific terms.
What are the 3 new insurance plans LIC is introducing?
LIC has unveiled three innovative products: LIC’s New Jeevan Dhara – II, LIC’s Health Shield, and LIC’s New Cancer Cover. Each plan addresses unique customer needs. New Jeevan Dhara – II is designed to deliver steady income during your retirement years. Health Shield and New Cancer Cover, on the other hand, offer valuable protection against health-related challenges.
According to LIC, all three plans will become available to customers in India from October 19, 2026. Right now, the BSE filing only mentions their names and general categories. Detailed information about costs, age requirements, coverage amounts, and other policy specifics haven’t been shared yet.
LIC New Jeevan Dhara – II: Your Retirement Partner
New Jeevan Dhara – II works as a deferred annuity plan. With this approach, you invest or contribute funds over a set timeframe. Once that period ends, you’ll enjoy regular income payments based on the plan’s conditions. It’s a smart way to secure your financial future after retirement.
Unfortunately, specifics like investment amounts, when your payments kick in, and how much regular income you’ll receive aren’t available just yet. That’s why it’s wise to review the complete policy details in the official document before making your decision.
What will you get in Health Shield and New Cancer Cover?
LIC Health Shield is an individual health insurance plan, while New Cancer Cover is offered to provide insurance protection against cancer-related risks. Health insurance can provide financial assistance for expenses related to a particular illness or treatment, depending on the policy terms. The coverage provided by Cancer Cover will also depend on the terms of the relevant policy.
The company has categorized both plans as pure risk plans. Generally, the primary objective of such plans is to provide insurance protection, not investment returns. However, the specific treatments covered under these two new plans, the sum insured, and the circumstances under which claims will not be accepted will only be clear once the official documents are released.
Pay attention to these things before buying a policy
These three new LIC plans are scheduled to go on sale starting October 19th, but it’s not wise to judge a policy purchase based solely on the name. Customers should compare premiums, coverage, waiting periods, eligibility, policy term, and claim terms. For health and cancer coverage, it’s also important to consider the terms and conditions for pre-existing conditions, hospitalization, and various treatments.
Customers choosing retirement plans should understand the payout start date, annuity options, and policy exit terms. The actual costs and benefits of these plans can only be assessed once LIC releases detailed information.