Life Insurance Corporation of India (LIC), the nation’s largest insurer, has introduced two new insurance products—Jan Suraksha and Bima Lakshmi—effective from October 15, 2025. These offerings aim to provide accessible and secure financial solutions tailored to diverse customer needs.
LIC Jan Suraksha
Jan Suraksha is a low-cost, non-participating, non-linked microinsurance plan designed primarily for individuals from lower-income groups. As a microinsurance product, it seeks to offer affordable life coverage with convenient premium payment options, making it accessible to economically weaker sections of society. The plan is not linked to market performance or bonuses, ensuring a stable and predictable benefit structure.
LIC Bima Lakshmi
Bima Lakshmi is a non-participating, non-linked life insurance and savings plan. It combines life coverage with a savings component, providing policyholders with financial security and the potential for a maturity benefit. Similar to Jan Suraksha, this plan is not influenced by market fluctuations or bonuses, offering a risk-free investment avenue for individuals seeking both protection and savings.
Product Categories
Both plans fall under the “Non-Par, Non-Linked, Individual, Savings, Life” category, indicating that they are individual policies offering life coverage with a savings component, and are not affected by market performance or dividends. These products are available exclusively in the domestic market.
Strategic Intent
The introduction of these plans aligns with LIC’s strategy to cater to a broad spectrum of customers, including those from lower-income groups and individuals seeking secure savings options. By offering affordable and stable insurance solutions, LIC aims to enhance financial inclusion and provide accessible protection to a wider population.
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