The Life Insurance Corporation (LIC) of India is set to launch two new schemes, LIC Jan Suraksha and LIC Bima Lakshmi, tomorrow, October 15, 2025. These plans are designed to cater to diverse individual needs within the domestic market.

LIC Jan Suraksha

LIC Jan Suraksha is a microinsurance plan targeted towards individuals, particularly those from lower-income groups. It is a non-participating and non-linked insurance scheme, meaning that its returns are not tied to market performance or bonuses. This plan aims to provide affordable insurance coverage.

Key features of existing Jan Suraksha schemes: * Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY): A term life insurance plan for individuals aged 18-50 with an existing savings bank account, providing a life cover of ₹2 lakh at an annual premium of ₹436. Premiums are paid through auto-debit. * Pradhan Mantri Suraksha Bima Yojana (PMSBY): An accident insurance scheme for people aged 18-70, offering ₹2 lakh cover for accidental death and total disability, and ₹1 lakh for partial disability, with an annual premium of just ₹20. Premiums are auto-debited from the savings account. * Atal Pension Yojana (APY): A pension plan for Indian citizens aged 18-40, offering a guaranteed minimum pension of ₹1,000, ₹2,000, ₹3,000, ₹4,000, or ₹5,000 per month from the age of 60, depending on the contributions.

LIC Bima Lakshmi

LIC Bima Lakshmi is a life insurance and savings plan. Similar to Jan Suraksha, it is also a non-par and non-linked scheme, ensuring that returns are not affected by market fluctuations and will not include bonuses. This plan combines life insurance coverage with a savings component.

Additional Information

পুরোনো LIC Bhagya Lakshmi Plan (Plan No. 939, UIN No. 512N292V04) provided financial assistance to low-income individuals and was categorized as a micro-insurance plan. It guaranteed 110% of premium repayment on maturity and offered a death benefit to the nominee. The minimum sum assured was ₹20,000, and the maximum was ₹50,000. The minimum entry age was 18 years, with a maximum maturity age of 65 years.

LIC Bima Sakhi Yojana

The LIC Bima Sakhi Yojana is a separate initiative launched to train women, especially in rural areas, to become LIC insurance agents. This program provides a stipend during the training period and aims to create employment opportunities for women while increasing insurance awareness in villages.

The launch of LIC Jan Suraksha and LIC Bima Lakshmi is part of LIC's ongoing efforts to strengthen its domestic life insurance product portfolio and provide financial security to a wide range of customers.