Life Insurance Corporation of India celebrates its 70th anniversary with the rollout of two new policies, Bima Platinum and Jeevan Raksha, offering customers tailored solutions for long-term savings and family protection amid evolving insurance needs.
Life Insurance Corporation of India has marked its 70th anniversary by unveiling two new policies aimed at different parts of the market: a savings-linked plan called Bima Platinum and a pure risk cover named Jeevan Raksha. The insurer said the launches were made on Tuesday by chairman and managing director R. Doraiswamy, with both products positioned as part of its anniversary year offer for customers seeking either long-term accumulation or straightforward family protection.
Bima Platinum, Plan 770, is a non-participating, non-linked individual policy that blends protection with savings. According to LIC, it is a limited-premium plan that provides guaranteed additions of Rs 70 for every Rs 1,000 of annual premium paid during the premium-paying term. It also includes a booster income benefit equal to 70% of the basic sum assured if the policyholder survives five years beyond the end of premium payments, alongside a regular income benefit of 10% of the basic sum assured each year during the payout period.
The policy has a minimum basic sum assured of Rs 3 lakh, with no fixed upper ceiling, subject to underwriting approval. Premium-paying terms are available for seven, 10, 12, 15 or 18 years, and entry begins from 30 completed days of age. LIC also says the plan offers rebates for existing policyholders and for nominees or beneficiaries of deceased policyholders, as well as rider options that can broaden cover.
Jeevan Raksha, Plan 894, is a non-participating, non-linked pure risk product intended to provide fixed financial support to a family in the event of the insured person’s death during the policy term. The benefit is guaranteed and does not depend on LIC’s investment or surplus performance. The plan is open to people aged 18 to 45 at entry, with maturity ages ranging from 33 to 60, and offers a basic sum assured from Rs 5 lakh to Rs 24 lakh, subject to underwriting rules. According to reports on the launch, both plans are set to go on sale from 7 September 2026.
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