LIC CEO and MD R. Doraiswamy with officials at the launch of new products
| Photo Credit: Special Arrangement
The Life Insurance Corporation of India (LIC) has introduced two plans, Jan Suraksha and Bima Lakshmi, offering guaranteed additions and financial protection features for diverse customer segments.
CEO and MD R. Doraiswamy launched the products, which are among the first set to be rolled out by LIC in the new Goods and Services Tax regime. Under this regime, effective from September 22, there is no GST on individual life and health insurance policies.
Jan Suraksha is a life micro insurance plan aimed at the lower income group people ad offering auto cover facility besides guaranteed additions. The guaranteed additions will accrue at the rate of 4% of annualised premium at the end of each policy year throughout the policy term.
A non-par, non-linked individual savings insurance plan, it provides financial support for the family in case of death of the policyholder during the policy term and a lump sum amount at the time of maturity for the surviving policyholder. It is only available for standard healthy lives without undergoing any medical examination, LIC said in a release on Wednesday (October 16, 2025).
Designed exclusively for women, Bima Lakshmi is a plan providing life cover, periodical fixed money back after every 2 years or 4 years or after premium payment ceases, as per life assured’s choice, covers limited illness and guaranteed maturity benefits.
Auto cover facility is available after payment of three full years’ premiums. In addition to other riders, female critical illness rider is also available upon payment of additional premium under the non-par, non-linked insurance plan.
Published – October 16, 2025 07:50 pm IST
