LIC Unveils 3 New Plans From October 19, Know - Benefits Of Retirement Income, Health Shield And Cancer Cover

Mumbai: Life Insurance Corporation of India (LIC) has announced three new insurance products covering retirement income, family healthcare and cancer protection. The plans will be available for purchase from October 19, 2026.

LIC CEO and MD R. Doraiswamy launched New Jeevan Dhara-II (Plan 892), Health Shield (Plan 907) and New Cancer Cover (Plan 908) on Tuesday.

New Jeevan Dhara-II: Guaranteed Retirement Income

New Jeevan Dhara-II is a deferred annuity plan designed to provide guaranteed income after retirement.

The plan offers lifetime annuity payments after the deferment period, with guaranteed rates fixed when the policy begins.

Customers can choose regular or single premiums, along with single-life or joint-life annuity options.

The plan also allows additional contributions through a top-up annuity facility during the deferment period.

The minimum entry age is 18 years, while the deferment period ranges from one to 15 years, depending on the premium option.

Health Shield: Family Healthcare Protection

Health Shield provides fixed financial benefits against specified health risks, including hospitalisation, major surgeries and critical illnesses.

The plan offers daily hospital cash benefits and lump-sum payments for eligible medical conditions.

Adults aged 18 to 65 years can purchase the policy, while children aged 90 days to 20 years can receive coverage.

The policy term is 15 years, with guaranteed premiums and optional additional riders.

New Cancer Cover: Financial Support During Treatment

New Cancer Cover provides financial protection following diagnosis of specified early-stage or major-stage cancers.

Policyholders receive 25 per cent of the applicable sum assured for eligible early-stage cancer and 100 per cent for major-stage cancer.

Major-stage cancer also qualifies for monthly income benefits equal to 1 per cent of the applicable sum assured for 10 years.

Coverage ranges up to Rs 50 lakh, subject to eligibility conditions.

How To Purchase?

All three plans can be purchased through LIC agents, authorised intermediaries or directly through LIC's official website.

Disclaimer: This article is based on LIC's official announcement. Policy benefits, eligibility and payouts are subject to applicable terms and conditions.