On its 70th Foundation Day, LIC has introduced two new non-linked, non-participating plans: 'Bima Platinum' for guaranteed savings and 'Jeevan Raksha' for high-value term protection.
- LIC has introduced 'Bima Platinum' and 'Jeevan Raksha' as its latest insurance offerings.
- Both plans are non-linked and non-participating, ensuring returns are independent of market volatility.
- Bima Platinum offers guaranteed additional returns and a regular income stream.
- Jeevan Raksha provides a high-value risk cover of up to ₹24 lakh at low premiums.
The Life Insurance Corporation of India (LIC), the nation's premier insurance giant, has marked its 70th Foundation Day by launching two groundbreaking insurance schemes. Designed to cater to the growing demand for stability, these plans—'Bima Platinum' and 'Jeevan Raksha'—are tailored for individuals seeking certainty in an unpredictable financial landscape.
Both schemes are classified as 'non-linked' and 'non-participating' plans. This is a crucial distinction for investors, as it means the benefits are not tied to the fluctuations of the stock market, nor are they dependent on the company's bonus declarations. The returns are fixed and guaranteed at the time of policy inception. These plans will be available through both online and offline channels starting September 7, 2026.
LIC Bima Platinum: A Secure Savings Engine
LIC Bima Platinum is a limited-premium savings and protection plan. It is specifically engineered for those who desire a life cover combined with a predictable income stream. A standout feature is the 'Guaranteed Additional' benefit: for every ₹1,000 of annual premium paid, an additional ₹70 will be added to the policy.
Five years after the premium payment term concludes, the policyholder receives 70% of the Basic Sum Assured as a lump-sum 'Booster Income.' Following this, the plan provides a regular income equivalent to 10% of the Basic Sum Assured annually. Customers can choose premium payment terms of 7, 10, 12, 15, or 18 years. The minimum sum assured starts at ₹3 lakh, with entry ages ranging from 30 days to 55 years.
Why This Matters
BozokMedia analysis shows that in an era of market volatility and inflationary pressures, LIC's pivot toward guaranteed-return products addresses a massive gap in the retail investor market. These products offer psychological and financial peace of mind that equity-linked products often lack.
Guaranteed-return schemes are a lifeline for conservative investors who prioritize capital preservation and steady cash flow over high-risk growth.
LIC Jeevan Raksha: Pure Protection at Low Cost
For those whose primary goal is to secure their family's financial future through high-value risk cover, LIC Jeevan Raksha is the ideal solution. This is a 'pure risk plan,' meaning it focuses entirely on providing a death benefit without maturity or bonus components, allowing for significantly lower premiums.
Under this plan, the nominee receives a guaranteed death benefit upon the policyholder's demise. The plan offers a minimum sum assured of ₹5 lakh and a maximum of ₹24 lakh. It is available to individuals aged between 18 and 45 years, with a maximum maturity age of 60. Notably, LIC has included special concessions for women and rebates for higher sum assured amounts.
| Feature | Bima Platinum | Jeevan Raksha |
|---|---|---|
| Plan Type | Savings + Protection | Pure Risk (Term) |
| Primary Benefit | Guaranteed Return + Regular Income | Guaranteed Death Benefit |
| Min Sum Assured | ₹3 Lakh | ₹5 Lakh |
| Max Sum Assured | Variable (Premium based) | ₹24 Lakh |
Frequently Asked Questions
1. Are the returns in Bima Platinum subject to market risks?
No, since it is a non-linked plan, the returns are guaranteed and not affected by stock market movements.
2. What are the premium payment options for Jeevan Raksha?
Policyholders can choose between single, regular, or limited premium payment modes.
