Life Insurance Corporation of India (LIC) has launched three new insurance plans: LIC’s New Jeevan Dhara-II (Plan 892), LIC’s Health Shield (Plan 907) and LIC’s New Cancer Cover (Plan 908). These plans will be available for purchase on October 19, 2026.
The three new LIC plans will cater to different financial needs, including retirement income, health coverage and financial protection against cancer.
Here are the details of three new LIC plans as per an LIC statement dated October 13, 2026-
LIC’s New Jeevan Dhara-II
LIC’s New Jeevan Dhara-II is a non-participating, non-linked, individual savings deferred annuity plan that provides financial independence through guaranteed income after retirement.
The key features of the LIC’s New Jeevan Dhara-II plan are:
LIC’s New Jeevan Dhara offers annuity payments for life after the completion of the deferment period.
The new LIC plan provides a wide range of annuity options to meet the diverse financial needs of annuitants.
The plan offers guaranteed annuity rates at the time of policy inception.
By paying additional premium during the deferment period, a top-up annuity facility is available.
Flexibility to choose regular and single premium options and single-life and joint-life annuity options.
The minimum age at entry is 18 years and the maximum age is 65/70 years (last birthday) minus deferment period as per the annuity option exercised.
The minimum vesting age is 30 years for all annuity options while the maximum vesting age is 65/70 years (last birthday) depending on the annuity option selected.
Incentives are available for high premiums or purchase prices. Incentives are also offered to existing policyholders and nominees or beneficiaries of deceased LIC policyholders.
LIC’s Health Shield plan features
LIC’s Health Shield plan is a non-participating, non-linked, individual health, pure risk plan that provides fixed benefits against specified health risks.
LIC’s Health Shield plan offers the following features:
LIC’s Health Shield provides health coverage for the entire family.
Policyholders can receive a fixed daily hospital cash benefit during hospitalisation. The plan also offers lump sum payouts for major surgeries and critical illnesses.
Premiums remain guaranteed throughout the policy term.
The minimum and maximum entry ages for the principal insured are 18 and 65 years, respectively, based on the last birthday.
Children aged 90 days (completed) to 20 years (last birthday) can be covered as other insured members.
The policy term and premium-paying term are both 15 years.
A premium waiver benefit is available for other insured members in the event of the death of the original principal insured, subject to policy conditions.
Policyholders can opt for available riders at an additional premium for extra protection.
A no-claim benefit allows the health cover to increase.
An incentive is available for those who opt for a higher initial daily benefit.
LIC’s New Cancer Cover
LIC’s New Cancer Cover is a non-participating, non-linked, individual health and pure risk plan. It provides fixed financial benefits on the diagnosis of specified early-stage and major-stage cancers, irrespective of the actual treatment costs incurred by the insured.
The plan offers the following benefits:
For a policy holder, 25% of the applicable sum assured is paid on the diagnosis of a specified early-stage cancer.
A policy holder will be paid 100% of the applicable sum assured on the diagnosis of a specified major-stage cancer.
A monthly income benefit equal to 1% of the applicable sum assured is payable for 10 years to the policy holder in the event of major stage cancer, and in case of his/her death, to the nominee.
There is an option to choose between level sum assured and increasing sum assured options.
Premium waiver benefit is applicable following an eligible cancer diagnosis subject to policy conditions.
The minimum and maximum age at entry is 18 years and 65 years (last birthday), respectively.
How to buy LIC’s new plans
LIC’s New Jeevan Dhara-II, Health Shield and New Cancer Cover will be available for purchase from October 19, 2026. Customers can purchase these plans offline through licensed agents, corporate agents, brokers and insurance marketing firms. They can also buy them online directly through LIC’s official website, http://www.licindia.in.