Excelsior Correspondent
JAMMU, Oct 17: Life Insurance Corporation of India (LIC), the country’s largest life insurer today announced the launch of two new insurance products ‘Jan Suraksha’ and ‘Bima Lakshmi’ Plans in a function held here today.
The plans were launched by R Doraiswamy, CEO & MD, Life Insurance Corporation of India (LIC).
The new plans are available for sale from October 15, 2025.
These launches align with LIC’s continued focus on strengthening its product portfolio and catering to the evolving protection and savings needs of customers.
The first product, LIC’s Jan Suraksha, is a non-participating, non-linked, individual, savings, life micro insurance Plan.
Designed specifically for the domestic market, this plan aims to provide affordable life insurance coverage with savings benefits, targeting individuals in the low-income and rural segments.
The other features of this plan are minimum & maximum age at entry are 18 years (completed) and 55 years, the minimum basic sum assured is Rs 1,00,000/- whereas the maximum basic sum assured per life is Rs. 2,00,000/- (Basic Sum Assured multiples shall be Rs. 5,000/-), the policy term is 12 to 20 Years and the premium paying term will be calculated as Policy Term minus 5 years.
The second product, LIC’s Bima Lakshmi, is a Non-Participating, Non-Linked, Individual, Savings Plan.
This plan also caters to the domestic market and focuses on providing a combination of protection and systematic savings, appealing to customers seeking long-term financial stability.
Minimum Age at Entry is 18 years (Last Birthday) and Maximum Age at Entry is 50 years (nearer birthday), policy term is 25 years.
Premium paying term is 7 years to 15 years, minimum basic sum assured is Rs 2,00,000/-.
There is no Limit for Maximum Basic Sum Assured per life (Subject to Underwriting Policy) and basic sum assured multiples allowed in Rs 10,000.
With the introduction of Jan Suraksha and Bima Lakshmi, LIC reinforces its mission to offer diverse insurance solutions for different customer segments.
Both plans underscore the insurer’s focus on inclusivity, protection, and financial security for individuals across India.
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