LIC launches two exciting new schemes: 'Bima Platinum' and 'Jeevan Raksha' plans, learn about their features
LIC has launched two new insurance plans to meet different needs. LIC's Bima Platinum plan focuses on providing financial protection along with savings and offers guaranteed additions.
RJ Kesari News Desk: The Life Insurance Corporation of India (LIC) today (Tuesday, September 1, 2026) launched two new plans, 'LIC Bima Platinum' and 'LIC Jeevan Raksha', to mark its 70th anniversary.
While 'Bima Platinum' is a non-linked guaranteed savings plan, 'Jeevan Raksha' is a pure life risk cover that provides family protection at a low cost.
Both plans will be available for sale from September 7, 2026. Let us explain the key features of these two plans and discuss how investing in these plans can benefit the general public.
LIC Insurance Platinum
LIC's Bima Platinum is a non-par, non-linked individual plan that offers a combination of savings and financial security. This limited premium plan offers a guaranteed addition of Rs 70 for every Rs 1,000 of annual premium during the premium-paying term.
Key Features of LIC Insurance Platinum
An attractive feature of this plan is the Booster Income Benefit, which is 70% of the Basic Sum Assured. This benefit is available if the policyholder survives till the end of the (PPT + 5th) year.
This plan also offers a regular income benefit of 10% of the basic sum assured at the end of each year during the payout period. The payout period is determined by subtracting the premium-paying term from the policy term.
The minimum basic sum assured is ₹300,000. There is no upper limit. However, the maximum basic sum assured will depend on the acceptance decision under the underwriting policy approved by LIC's board.
The basic sum assured in the plan will be available in multiples of ₹10,000. Premium-paying term options are 7, 10, 12, 15, and 18 years.
The minimum age at entry is 30 days (completed). The maximum age at entry is 55 years and may vary depending on the premium-paying term chosen by the policyholder. The minimum and maximum age at maturity are 28 years (completed) and 75 years (nearest birthday), respectively.
Discounts are available for existing LIC policyholders and nominees/beneficiaries of deceased policyholders. Policyholders can also enhance their coverage by choosing different rider benefits available under the plan.