India’s insurance giant, LIC, just rolled out two new plans—LIC Jan Suraksha (Plan 880) and LIC Bima Lakshmi (Plan 881)—effective October 15, 2025. This is not about market volatility. This is about stability and affordable premiums for regular families. Or nothing.
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The Core Promise: Non-Linked Security
Here’s the kicker: Both plans are non-linked and non-participating. Let’s be real, that’s code for: your money is safe from the stock market roller coaster. While you won’t get discretionary bonuses, you get Guaranteed Additions every year, providing stable savings and protection.
Plan 880: LIC Jan Suraksha (For Lower-Income Families)
This is the microinsurance play. It’s aimed at lower and lower-middle-income groups needing life protection without the complexity.
The Focus: Life cover and guaranteed maturity benefits.
The Money: Minimum cover is $\text{₹}1$ lakh, max is $\text{₹}2$ lakh.
The Term: $12$ to $20$ years. You pay premiums for five years less than the policy term.
The Lifeline: After paying three years of premiums, you get the Auto Cover feature. If you miss a payment, the policy doesn’t immediately lapse. That’s a huge benefit for economically disadvantaged individuals.
The Return: Guaranteed Additions accrue at 4% of the annual premium every year.
Plan 881: LIC Bima Lakshmi (Exclusively for Women)
This plan is historic. It focuses solely on financial security and health for women. It combines life insurance with a money-back feature—cash women can use periodically.
The Focus: Protection, savings, and survival benefits (money-back).
The Money: Minimum cover is ₹2 lakh, with no maximum limit (subject to income).
The Term: Fixed at 25 years. You choose a premium term between 7 and 15 years.
The Health Angle: The most significant feature is the exclusive Female Critical Illness Rider. This rider provides coverage for specific health risks unique to women, including complications related to cancer, surgery, and pregnancy.
The Return: Guaranteed Additions accrue at a higher rate of 7 of the annual premium every year.
The Auto Cover feature also applies here after three years of full premium payment. LIC is trying to provide a strong, flexible foundation for women’s financial independence and health. It’s a smart, targeted move.
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