LIC Launches 3 New Plans

The three plans will be available for purchase from 19 October 2026.

The CEO & MD of LIC of India, Shri R. Doraiswamy launched three new plans on Monday October 13, 2026

FinTech BizNews Service    

Mumbai, October 13, 2026: The CEO & MD of LIC of India, Shri R. Doraiswamy launched three new plans today, LIC’s New Jeevan Dhara –II (Plan 892), LIC’s Health Shield (Plan 907) & LIC’s New Cancer Cover (Plan 908).

The salient features of these plans are as under.

LIC’s New Jeevan Dhara –II (Plan 892, UIN: 512N398V01)

This is a Non-Par, Non-Linked, Individual, Savings, Deferred Annuity Plan that provides financial independence with guaranteed income after retirement.

• The plan provides annuity payments for life after completion of the deferment period.
• A wide range of annuity options are available to meet the diverse financial needs of annuitants.
• It offers guaranteed annuity rates at the time of policy inception.
• A unique feature of this plan is that Top-up Annuity facility is available by paying additional premium during the deferment period.
• Flexibility to choose regular & single premium options and single-life and joint-life annuity options.
• The minimum age at entry is 18 years (last birthday) and maximum age is 65/70 years (last Birthday) minus Deferment period as per annuity option exercised.
• The Minimum Vesting age is 30 years (last birthday) for all annuity options while the maximum vesting age is 65/70 years (last birthday) depending on the annuity option selected.
• Deferment Period is 2 to 15 years for Regular premium and 1 to 15 years for single premium.
• Incentives are available for High Premium/Purchase Price, and also for existing Policyholders, Nominees/Beneficiaries of deceased policy holders of LIC.

LIC’s Health Shield (Plan 907 UIN : 512N369V01)

This is a Non-Par, Non-linked, Health, Individual, Pure Risk Plan that provides fixed benefit coverage against specified health risks.

• The plan offers comprehensive health coverage for the entire family.
• It provides fixed “Daily Hospital Cash Benefit” during hospitalization and offers Lump-sum Payouts for major surgeries and critical illnesses.
• Premiums are guaranteed throughout the policy term.
• The minimum and maximum age at entry for the Principal Insured is 18 years and 65 years respectively (age last birthday).
• Children aged 90 days (completed) and 20 years (last Birthday) are eligible for coverage as other insureds.
• The Policy Term and Premium Paying Term is 15 years.
• Premium Waiver Benefit for other Insured(s) members is available in the event of unfortunate death of the original Principal Insured, subject to policy conditions.
• Additional protection can be obtained by opting for available riders at an additional premium.
• Increasing Health Cover by way of No Claim Benefit is available.
• An attractive incentive is available for opting for a higher initial daily benefit.

LIC’s New Cancer Cover (Plan No. 908 UIN 512N370V01)

It is a Non-Par, Non-Linked, Individual, Health, Pure Risk Plan that provides fixed financial benefits upon diagnosis of specified Early and Major Stage Cancer irrespective of the actual treatment cost incurred by the insured.

• 25% of the “Applicable Sum Assured” is payable upon diagnosis of a Specified Early Stage Cancer.
• 100% of the “Applicable Sum Assured” is payable upon diagnosis of specified Major Stage Cancer.
• A Monthly Income Benefit equal to 1% of the Applicable Sum Assured is payable for 10 years to the policy holder in the event of Major Stage Cancer, and in case of his/her death, to the nominee.
• Option to choose between Level Sum Assured and Increasing Sum Assured Options.
• Premium Waiver Benefit is applicable following an eligible cancer diagnosis subject to policy conditions.
• The minimum and maximum age at entry is 18 years and 65 years (last Birthday) respectively.
• The minimum and maximum age at maturity is 28 and 75 years (last birthday).
• The Minimum premium-paying term is 10 years and the maximum is 15 years.
• Minimum Basic Sum Assured ranges from Rs. 15,00,000 to 35,00,000 depending on the applicable age criteria. The maximum Sum Assured is Rs. 50,00,000 taking into account all the existing policies under the plan.

The Sales Brochures for details of these products can be viewed on its website www.licindia.in.

These Plans can be purchased Offline through Licensed agents, Corporate Agents, Brokers, Insurance Marketing Firms as well as Online directly through our website www.licindia.in.

LIC’s New Jeevan Dhara-II-892, LIC’s Health Shield -907 and LIC’s New Cancer Cover-908 plans will be available for purchase from 19th October 2026.