Mumbai, October 14 (APAC Media): Life Insurance Corporation of India (LIC) has introduced three new insurance plans covering retirement income, family health protection, and cancer-related financial support. The plans are New Jeevan Dhara-II (Plan 892), Health Shield (Plan 907), and New Cancer Cover (Plan 908).
Launched by LIC CEO and Managing Director R. Doraiswamy, the products will be available for purchase from October 19, 2026, through authorised insurance intermediaries and the LIC website.
New Jeevan Dhara-II for Retirement Income
LIC’s New Jeevan Dhara-II is a deferred annuity plan designed to provide income for life after a specified deferment period. It offers guaranteed annuity rates at the time of policy purchase, along with regular and single-premium payment options.
Policyholders can choose between single-life and joint-life annuity options. The plan also includes a top-up facility, allowing additional premiums to be paid during the deferment period, subject to policy conditions.
Health Shield Offers Family Coverage
LIC’s Health Shield is a health insurance plan offering fixed benefits for specified medical events. It provides a daily hospital cash benefit during hospitalisation and lump-sum payments for covered major surgeries and critical illnesses.
The plan covers the principal insured, with eligible children also included as insured members. Its policy term and premium-paying term are 15 years, and premiums remain guaranteed throughout the policy term, subject to the policy conditions.
New Cancer Cover Provides Financial Benefits
LIC’s New Cancer Cover provides fixed financial benefits following the diagnosis of specified early-stage or major-stage cancers, regardless of the actual treatment expenses.
The plan provides 25% of the applicable sum assured for specified early-stage cancer and 100% for specified major-stage cancer. For major-stage cancer, it also offers a monthly income benefit equal to 1% of the applicable sum assured for 10 years, subject to policy terms.
The plan offers level and increasing sum-assured options, along with a premium-waiver benefit following an eligible cancer diagnosis.
All three plans can be purchased through licensed agents, corporate agents, brokers, insurance marketing firms and LIC’s official website.
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