Top News

In a welcome move just ahead of Diwali, Life Insurance Corporation of India (LIC) has unveiled two new risk-free insurance schemes designed especially for middle-class and lower-income families. The announcement comes as a financial relief for millions of Indians seeking secure, low-cost insurance options amidst rising expenses and uncertain market conditions. According to LIC, both new policies are completely market-independent and do not offer any bonus component, making them ideal for individuals who prioritize stability over volatility.

LIC’s Festive Gift for Common Investors

LIC, the country’s largest and most trusted insurance provider, has a long-standing reputation for offering products that cater to the financial needs of ordinary citizens. This Diwali, the corporation has introduced two new insurance plans that are simple, affordable, and risk-free, providing peace of mind to families who wish to safeguard their future without worrying about market-linked risks.

These schemes are designed keeping in mind the financial challenges of middle- and lower-income groups, ensuring that even individuals with modest savings can avail life insurance coverage with minimal premium outflow.

First Scheme: LIC Jan Suraksha Yojana

One of the newly launched schemes—LIC Jan Suraksha Yojana—focuses on providing affordable protection to low-income individuals. It is a non-linked, non-participating micro-insurance plan, which means it is neither connected to stock market performance nor eligible for profit-sharing or bonuses.

The primary aim of this policy is to extend insurance benefits to people who might otherwise find traditional plans too expensive. The plan is structured with low premium options and flexible payment modes, allowing even daily wage earners or small traders to maintain life cover without financial strain.

Under the Jan Suraksha Yojana, policyholders get guaranteed risk-free protection, ensuring financial security for their families in case of any unfortunate event. The absence of market exposure makes it a stable and predictable insurance product—ideal for those who prefer guaranteed benefits over uncertain returns.

Designed for Economic Stability and Inclusion

Both of LIC’s new schemes reflect the corporation’s focus on financial inclusion and economic empowerment. By targeting middle-class and economically weaker households, LIC aims to bridge the gap between affordability and protection.

Unlike unit-linked plans that fluctuate with market trends, these policies guarantee fixed benefits. Additionally, the absence of bonus provisions keeps premiums lower, ensuring that policyholders do not have to bear any market-related risk or volatility.

The corporation’s focus is clear—to ensure that every section of society can access reliable, risk-free insurance coverage without sacrificing their financial stability.

Why These Schemes Matter

In an era where people are increasingly drawn toward market-based investment products, the reintroduction of simple, fixed-benefit insurance schemes by LIC is a refreshing change. For middle-class families, these plans provide:

• Guaranteed protection without market dependency.

• Low and flexible premium options.

• Financial security for dependents.

• No risk of capital loss or policy devaluation.

• Ease of access through post offices and LIC branches nationwide.

These features make them particularly suitable for individuals who prioritize financial safety and long-term stability over short-term market returns.

A Step Towards Inclusive Financial Planning

LIC’s move aligns with the government’s broader goal of promoting inclusive financial planning for all segments of society. The new schemes will likely encourage more people from the unorganized and middle-income sectors to invest in life insurance—a crucial step toward ensuring nationwide financial resilience.

As inflation and living costs continue to rise, having risk-free insurance options ensures that families can plan for the future without uncertainty. By offering these affordable schemes, LIC has once again reaffirmed its role as a protector of the common man’s financial well-being.

Final Takeaway

LIC’s latest announcement comes as a Diwali gift for millions of Indian households. With two simple, risk-free, and affordable insurance schemes, the company has made it easier for middle-class families to access reliable financial protection. These plans perfectly combine LIC’s legacy of trust with its commitment to inclusivity—ensuring that financial security is no longer a privilege, but a right available to all.

---