LIC Launches Bima Platinum & Jeevan Raksha: Key Benefits, Minimum Age & Income Features
New Delhi: Life Insurance Corporation of India (LIC) has launched two new insurance plans on the occasion of its 70th Anniversary. The plans were introduced by CEO & MD Shri R. Doraiswamy on 1 September 2026.
Both products will be available for purchase from 7 September 2026.
1. LIC’s Bima Platinum (Plan 770)
This is a Non-Linked, Non-Participating individual plan that combines savings and protection.
Key Features:
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Guaranteed Additions of ₹70 per ₹1,000 of annual premium paid during the Premium Paying Term
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Booster Income Benefit equal to 70% of Basic Sum Assured payable on survival at the end of (PPT + 5)th year
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Regular Income Benefit of 10% of Basic Sum Assured every year during the payout period
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Minimum Basic Sum Assured: ₹3 lakh
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Premium Paying Term options: 7, 10, 12, 15 and 18 years
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Entry age: 30 days to 55 years (depending on PPT)
Existing LIC policyholders and nominees of deceased policyholders can avail rebate. Multiple rider options are also available.
2. LIC’s Jeevan Raksha (Plan 894)
This is a pure risk (term) plan that provides financial protection to the family in case of the life assured’s death during the policy term. Benefits are guaranteed and fixed.
Key Features:
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Minimum Basic Sum Assured: ₹5 lakh
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Maximum Basic Sum Assured: ₹24 lakh
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Entry age: 18 to 45 years
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Maturity age: 33 to 60 years
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Premium payment options: Single Premium, Regular Premium and Limited Premium
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Special rates for women
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High Sum Assured rebate available
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Rider options for enhanced coverage
Both plans can be purchased offline through LIC agents, corporate agents, brokers and Insurance Marketing Firms.
Source: Official Press Release by Life Insurance Corporation of India dated 1 September 2026.