LIC New Schemes: The country’s largest insurance company, Life Insurance Corporation of India (LIC), announced in an exchange filing on Monday, October 14, that it is launching two new insurance products.
These two plans are called ‘LIC Jan Suraksha’ and ‘LIC Bima Lakshmi’. Both will be available for sale from October 15, 2025. Both plans have been designed to suit customers with different needs. Jan Suraksha is a low-cost microinsurance plan designed for low-income groups. It is a non-linked, non-participating plan with affordable premiums and easy payment options. Bima Lakshmi is a life insurance and savings plan that provides life coverage along with a lump sum payment upon maturity. Let’s learn more…
LIC Jan Suraksha
LIC Jan Suraksha is a low-cost insurance plan specifically designed for the lower middle class. It is a non-participating and non-linked plan, meaning it has no connection to market fluctuations or bonuses. It is a micro-insurance plan designed to meet the needs of economically weaker sections. The plan’s specialty is low premiums and easy payment options, allowing more people to benefit from insurance coverage.
LIC Bima Lakshmi
LIC Bima Lakshmi is a life insurance and savings plan. It is also a non-participating and non-linked plan, meaning its returns are independent of the market and do not include any bonuses. This plan offers life cover as well as a lump sum payment upon maturity. It is suitable for individuals who want the benefits of both insurance and savings in a single plan.
Impact on LIC share price
Following the announcement of these two new schemes, LIC shares witnessed a slight rise on Monday, while the overall Indian stock market remained weak. During the day, LIC shares traded between a high of ₹904.15 and a low of ₹893.45, while the previous close was ₹897.25. However, LIC shares have underperformed on a year-on-year and year-to-date (YTD) basis. They have declined 6% in 1 year and 0.5% year-to-date. The stock has gained around 17% in the last 6 months.
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