LIC Launches Two New Insurance Products – Jan Suraksha and Bima Lakshmi

Life Insurance Corporation of India (LIC) introduced two new insurance plans on 15 October 2025: LIC Jan Suraksha and LIC Bima Lakshmi. These are the first products launched under the next-gen GST regime.

Objective: Provide financial protection and savings for different target groups.

LIC Jan Suraksha

• Target Group: Lower-income individuals and economically weaker sections.
• Type: Non-participating, non-linked insurance plan.

Eligibility:

• Age: 18–55 years
• Must be in good health

Sum Assured: ₹1,00,000 to ₹2,00,000 (multiples of ₹5,000)

Policy Term & Premium Paying Term:

• Term: 12–20 years
• Premium Paying Term = Policy Term − 5 years

Key Features:

• Life micro-insurance plan
• Limited premium payment
• Auto cover after three full years of premiums
• Policy loan available after one full year
• Guaranteed additions throughout policy term

LIC Bima Lakshmi

• Target Group: Females seeking life insurance with savings benefits
• Type: Non-participating, non-linked insurance plan

Eligibility:

• Female, age 18–50 years
• Sum Assured: Minimum ₹2,00,000; no maximum limit (multiples of ₹10,000)

Policy Term & Premium Paying Term:

• Term: 25 years
• Premium Paying Term: 7–15 years

Key Features:

• Guaranteed additions as a % of annual premiums
• Choice of survival benefits from three options
• Option to defer survival benefits
• Payment of maturity/death benefits in instalments
• Auto cover after three full years of premiums
• Incentives for higher sum assured
• Option to enhance coverage with rider benefits

Significance:

• Jan Suraksha promotes financial inclusion for low-income groups.
• Bima Lakshmi empowers women with life cover + periodic money-back options.
• Strengthens LIC’s portfolio under the new GST regime, offering both protection and flexible savings solutions.