LIC will offer three new insurance plans from 19 October 2026 - New Jeevan Dhara-II; Health Shield and New Cancer Cover.
The New Jeevan Dhara-II is a non-participating, non-linked individual savings plan that provides annuity payments for life after the deferment period. LIC says annuity rates are guaranteed at policy inception. The plan offers single-premium and regular-premium payment options, as well as single-life and joint-life annuity options. Policyholders can also pay an additional premium during the deferment period to access a top-up annuity facility.
The Health Shield is a non-participating, non-linked individual health insurance plan that provides fixed benefits against specified health risks. The plan includes a daily hospital cash benefit and lump-sum payouts for major surgeries and critical illnesses. It also offers family coverage, a no-claim benefit to increase health cover and optional riders at an additional premium, subject to policy terms.
The New Cancer Cover is a non-participating, non-linked individual health insurance plan that provides fixed financial benefits following the diagnosis of specified early-stage and major-stage cancers. The payout is based on the applicable sum assured rather than the actual cost of treatment. The plan also includes a monthly income benefit following a major-stage cancer diagnosis and a premium-waiver benefit, subject to policy conditions.
LIC said the three plans will be available both online through its website and offline through licensed insurance agents, corporate agents, brokers and insurance marketing firms, reported Mint.