The Life Insurance Corporation of India (LIC) has launched two new insurance plans, LIC Jan Suraksha (Plan 880) and LIC Bima Lakshmi (Plan 881), effective October 15, 2025. Both plans are specifically designed to meet the needs of the domestic market and the general public.
The LIC Jan Suraksha Plan is a microinsurance plan suitable for the lower and lower-middle class. It is non-linked and non-participating, meaning it is not affected by market fluctuations or bonuses. The payment options are simple and premiums are low, allowing economically weaker sections to ensure the safety of their lives and families. The policy term for this plan ranges from 12 to 20 years, with a premium payment term of five years less than the policy term. Furthermore, auto-cover is available after three years of premium payment. The minimum sum assured is ₹100,000 and the maximum is ₹200,000.
The LIC Bima Lakshmi plan is specially designed for women. It offers life insurance as well as money-back options. It is also a non-linked, non-participating plan, with no market influence. The policy term is 25 years, with premium payment periods ranging from 7 to 15 years. The minimum sum assured is ₹200,000, and the maximum limit depends on the policyholder’s eligibility. For women, there’s also an exclusive critical illness rider option, covering cancer, surgery, and pregnancy-related complications. Additionally, this plan offers auto insurance after three years.
Both plans are independent of market fluctuations, meaning your investment will be completely protected and there will be no possibility of bonuses. LIC has specifically launched these plans under the new GST regulations to provide simple, safe, and affordable insurance options to the domestic market.
These new insurance plans will provide a powerful source of financial security for low-income individuals and women, combining life insurance with savings and investment benefits. This will provide LIC customers with a greater choice of plans to suit their diverse needs.
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