Life Insurance Corporation of India (LIC) has launched two new insurance plans LIC Jan Suraksha (Plan 880) and LIC Bima Lakshmi (Plan 881) in the country from 15 October 2025. Both these schemes have been specially designed keeping in mind the needs of the domestic market and common people.
LIC Jan Suraksha Yojana is a micro insurance plan, suitable for the lower and lower-middle class. It is a non-linked and non-participating plan, which means it is not affected by market fluctuations or bonuses. In this, the payment options have been kept easy and the premium has been kept low, so that the economically weaker section can ensure the security of their life and family. In this plan the policy term is 12 to 20 years and the premium payment term is 5 years less than the policy term. Additionally, auto cover facility is available after three years of premium payments. The minimum sum insured has been fixed at ₹1,00,000 and maximum at ₹2,00,000.
LIC Bima Lakshmi Plan is specially designed for women. It has life insurance as well as money-back options. This is also a non-linked and non-participating scheme, in which there is no influence of the market. The policy term of this plan is 25 years, while the premium payment can be chosen between 7 to 15 years. In this, the minimum sum insured has been fixed at ₹ 2,00,000 and the maximum limit depends on the eligibility of the policyholder. For women, there is also the option of an exclusive critical illness rider, which covers cancer, surgery and pregnancy related complications. Additionally, this plan also offers the facility of auto cover after three years.
Both the schemes are independent from market fluctuations, meaning the investment will be completely safe and there will be no possibility of getting a bonus. LIC has launched these plans especially under the new GST rules, to provide simple, safe and affordable insurance options to the domestic market.
These new insurance plans will prove to be a strong means of financial security for low-income earners and women, including life insurance as well as savings and investment benefits. This will give LIC customers better options to choose plans according to different needs.