LIC Introduces Two New Insurance Plans — Jan Suraksha and Bima Lakshmi — Offering Affordable Premiums with Secure Coverage

The Life Insurance Corporation of India (LIC) has announced the launch of two new insurance products — LIC Jan Suraksha (Plan No. 880) and LIC Bima Lakshmi (Plan No. 881) — effective from October 15, 2025. These new schemes are designed keeping in mind the diverse financial needs of Indian households, particularly targeting the lower- and middle-income segments, as well as women seeking comprehensive yet affordable insurance protection.

LIC Jan Suraksha (Plan 880): Affordable Micro-Insurance for the Masses

LIC Jan Suraksha is a micro-insurance plan crafted for economically weaker and lower-middle-class families. This plan is non-linked and non-participating, meaning it is not affected by market fluctuations and does not offer bonuses.

The primary aim of the scheme is to provide affordable life coverage with easy payment options so that financially vulnerable individuals can ensure their family’s security.

Key highlights of the Jan Suraksha plan include:

• Policy Term: 12 to 20 years

• Premium Paying Term: 5 years less than the policy term

• Sum Assured: Minimum ₹1,00,000 and maximum ₹2,00,000

• Auto Cover Benefit: Available after three years of premium payment

• Low Premiums: Structured to suit the financial capacity of the lower-income segment

This plan offers simplicity, transparency, and easy accessibility, ensuring that even individuals with limited income can afford basic life insurance protection without worrying about market-linked risks.

LIC Bima Lakshmi (Plan 881): Exclusive Plan for Women with Dual Benefits

The second newly launched product, LIC Bima Lakshmi, is an exclusive life insurance plan for women, combining protection with periodic financial returns. Like Jan Suraksha, it is non-linked and non-participating, which means the investment is safe from market volatility.

Key features of the Bima Lakshmi plan include:

• Policy Term: 25 years

• Premium Payment Term: Flexible, between 7 and 15 years

• Minimum Sum Assured: ₹2,00,000

• Maximum Sum Assured: Depends on the policyholder’s eligibility and financial profile

• Critical Illness Rider: Optional rider covering major illnesses such as cancer, surgeries, and pregnancy-related complications

• Auto Cover Feature: Available after three years of continuous premium payment

This plan also provides a money-back option, making it suitable for women who wish to balance insurance protection with periodic liquidity. The additional critical illness cover makes it even more valuable, ensuring comprehensive protection beyond traditional life insurance.

Designed for Simplicity, Security, and Inclusivity

Both new LIC plans are independent of market movements, offering secure, fixed-benefit coverage. Unlike market-linked policies, these plans guarantee stability, with no risk of loss due to economic fluctuations. However, since these are non-participating policies, no bonus is payable.

LIC has strategically introduced these products under the latest GST regulations, ensuring compliance while keeping the plans affordable and simple for Indian consumers. The focus is on expanding insurance penetration among underinsured groups, particularly rural families and women.

Why These Plans Matter

The introduction of LIC Jan Suraksha and LIC Bima Lakshmi marks a significant step toward financial inclusion and women empowerment in the insurance sector.

• Jan Suraksha offers an opportunity for low-income individuals to secure life insurance protection at minimal cost.

• Bima Lakshmi, on the other hand, empowers women with a plan that not only protects but also provides financial returns and health coverage.

Together, these plans strengthen LIC’s mission to make life insurance more accessible, affordable, and relevant to every section of society. They also align with the government’s broader financial security initiatives under the “Insurance for All” vision.

Bottom Line

With the launch of Jan Suraksha (Plan 880) and Bima Lakshmi (Plan 881), LIC continues to reinforce its role as the most trusted insurer for millions of Indians. These products offer secure coverage, flexible terms, and affordable premiums, making them ideal for individuals seeking reliable protection without exposure to market risks.

For those looking to secure their family’s future or strengthen their financial safety net, LIC’s latest offerings present two well-structured, value-driven options.