70th Anniversary: LIC Launches Two New Insurance Plans
LIC has introduced two new insurance plans, Bima Platinum and Jeevan Raksha, offering savings and financial protection as part of its 70th anniversary celebrations.
Life Insurance Corporation of India has announced two new insurance products to mark its 70th anniversary. The new plans, named Bima Platinum and Jeevan Raksha, are aimed at customers looking for financial protection and long term security.
The two policies serve different needs. Bima Platinum focuses on savings along with life insurance protection, while Jeevan Raksha is designed as a pure term insurance plan to provide financial support to a policyholder’s family.
LIC Bima Platinum
Bima Platinum is a non linked and non participating insurance plan that combines savings with life cover. One of its main features is the guaranteed return offered during the premium paying period.
Under the plan, policyholders will receive a guaranteed addition of Rs 70 for every Rs 1,000 of the guaranteed sum assured during the applicable premium payment period. The minimum sum assured is Rs 3 lakh, while there is no stated maximum limit.
At maturity, the policyholder will receive the guaranteed sum assured along with the guaranteed additions accumulated during the policy term. The plan also includes features such as rebates for eligible existing LIC policyholders, loan facilities and the option to add additional riders.
LIC Jeevan Raksha
Jeevan Raksha is a pure risk term insurance plan focused on providing financial support to a policyholder’s family. The plan is intended to offer protection in case the policyholder dies during the policy period.
The minimum sum assured under the plan is Rs 5 lakh, while coverage can go up to Rs 24 lakh. Customers can choose from single premium, regular premium and limited premium payment options based on their financial requirements.
Another feature of Jeevan Raksha is the special premium rates available for women policyholders. This could make the plan an option for customers looking for straightforward life insurance protection without a savings component.
Both Bima Platinum and Jeevan Raksha are scheduled to become available from September 7, 2026, giving LIC customers two different options depending on whether their priority is savings with protection or pure term insurance coverage.
