Life Insurance Corporation of India (LIC), the country’s largest insurer, in an exchange filing today, October 14, announced the launch of two new products for the domestic market, which will be available for sale from tomorrow, October 15. These two offerings, namely LIC Jan Suraksha and LIC Bima Lakshmi, will cater to different individual needs.
LIC’s Product Details
LIC is launching the following new products, which will be available for sale w.e.f. October 15, 2025:
LIC Jan Suraksha
The LIC Jan Suraksha plan is a low-cost insurance plan for individuals, especially from lower-income groups. The plan is a non-participating and non-linked insurance scheme, meaning they are not linked to market or bonuses.
Since it is a microinsurance plan, it is likely tailored to the needs of the economically weaker sections of society. Such plans are offered at low premiums with convenient payment options.
LIC Bima Lakshmi
LIC’s Bima Lakshmi is a newly-launched life insurance and savings plan being launched by LIC. It is also a non-par and non-linked scheme, meaning returns are not tied to market performance and will not include bonuses. The plan likely provides both life cover and a maturity or savings payout and is aimed at catering individuals.
LIC share price trend
Amid the announcement of two new schemes, the LIC share price traded marginally higher, defying the weak Indian stock market trend.
LIC share price hit a high of ₹904.15 and a low of ₹893.45, as against its last closing price of ₹897.25.
While LIC’s share price performance has been lacklustre on a year and year-to-date (YTD) basis, shedding 6% and 0.5%, respectively. However, the PSU stock has seen a 17% rise in six months.
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