LIC’s New Jeevan Dhara-II: Guaranteed retirement income
New Jeevan Dhara-II is a non-participating, non-linked individual savings deferred annuity plan designed to provide lifelong income after a chosen deferment period. It offers guaranteed annuity rates at policy inception and multiple annuity options to suit different financial needs.
Policyholders can choose between single and regular premium payments, as well as single-life and joint-life annuities. An additional premium can be paid during the deferment period to access a top-up annuity facility.
The minimum entry age is 18 years, while the maximum is 65 or 70 years, depending on the selected annuity option and deferment period. The minimum vesting age is 30 years. Incentives are available for higher premiums or purchase prices, as well as eligible existing LIC policyholders and nominees or beneficiaries of deceased policyholders.
LIC’s Health Shield: Coverage for hospitalisation and critical illnesses
Health Shield is a non-participating, non-linked individual health insurance plan offering fixed benefits against specified health risks. It covers the principal insured and eligible family members.
Benefits include a fixed daily hospital cash allowance, lump-sum payouts for major surgeries and critical illnesses, and guaranteed premiums throughout the policy term. The plan has a 15-year policy term and premium-paying term.
The principal insured must be aged between 18 and 65 years at entry. Children aged 90 days to 20 years can also be covered as additional insured members.
The policy includes a no-claim benefit that increases health cover and offers a premium-waiver provision for other insured members following the death of the principal insured, subject to policy conditions. Riders are available at an additional premium.
LIC’s New Cancer Cover: Fixed payouts on diagnosis
New Cancer Cover provides fixed financial benefits upon diagnosis of specified early-stage and major-stage cancers, irrespective of actual treatment expenses.
The plan pays 25% of the applicable sum assured for a specified early-stage cancer diagnosis and 100% for a specified major-stage cancer diagnosis. For major-stage cancer, it also provides a monthly income equal to 1% of the applicable sum assured for 10 years, payable to the nominee in the event of the insured’s death, subject to policy terms.
Policyholders can choose a level or increasing sum assured. A premium-waiver benefit is available following an eligible cancer diagnosis. Entry is permitted between 18 and 65 years.
How to buy the new LIC plans
All three plans will be available from October 19, 2026, through licensed agents, corporate agents, brokers and insurance marketing firms. Customers can also purchase them online through LIC’s official website.