LIC unveils Jan Suraksha, Bima Lakshmi plans

New Delhi: The Life Insurance Corporation of India (LIC) has launched two new insurance products — LIC’s Jan Suraksha and LIC’s Bima Lakshmi — marking its first offerings after the recent GST reforms.

LIC Managing Director and CEO R. Doraiswamy unveiled the plans, aimed at expanding coverage across diverse segments.

Jan Suraksha is a life micro-insurance plan targeting lower-income groups. It offers auto cover, guaranteed additions of 4% annually, and provides financial protection to families in case of the policyholder’s death, along with a lump-sum maturity benefit.

Bima Lakshmi, designed exclusively for women, provides life cover, periodic money-back benefits, and guaranteed additions of 7% annually. The plan also includes a Female Critical Illness Rider.

Both products underscore LIC’s push toward inclusive insurance solutions, blending affordability with enhanced financial security for women and low-income earners. mpost