Life Insurance coverage Company of India (LIC) has launched a brand new pure time period insurance coverage plan — LIC’s Jeevan Raksha (Plan 894).
LIC launched the plan on September 1, 2026, together with LIC’s Bima Platinum, to mark its seventieth anniversary. Whereas Bima Platinum is a savings-oriented insurance coverage plan, Jeevan Raksha is designed particularly for pure life insurance coverage safety. The plan is predicted to be out there for buy from September 7, 2026.
So, what does LIC Jeevan Raksha provide? And is it value contemplating in case you are on the lookout for time period insurance coverage?
Allow us to perceive.
What’s LIC Jeevan Raksha?
LIC’s Jeevan Raksha is a Non-Taking part, Non-Linked, Particular person Pure Danger Plan.
In easy phrases, it’s a time period insurance coverage coverage. The first function of the plan is to supply a monetary payout to the nominee if the life assured dies in the course of the coverage time period. The dying profit is assured and glued, topic to the phrases and situations of the coverage.
Since it’s a non-participating plan, the policyholder isn’t entitled to bonuses or a share in LIC’s surplus. There’s additionally no funding element linked to the market.
In different phrases: You pay a premium → you get life cowl → if dying happens in the course of the coverage time period, the nominee receives the relevant dying profit. That’s the fundamental concept behind a pure time period insurance coverage plan.
Key options of LIC Jeevan Raksha
Listed here are the essential options of the brand new plan:
| Function | LIC Jeevan Raksha |
|---|---|
| Plan kind | Non-Taking part, Non-Linked, Pure Danger |
| Plan quantity | 894 |
| Minimal entry age | 18 years |
| Most entry age | 45 years |
| Minimal maturity age | 33 years |
| Most maturity age | 60 years |
| Minimal Primary Sum Assured | ₹5 lakh |
| Most Primary Sum Assured | ₹24 lakh |
| Premium cost choices | Single, Common or Restricted Premium |
| Particular charges | Out there for ladies |
| Excessive Sum Assured rebate | Out there |
| Riders | Out there |
| Anticipated availability | From September 7, 2026 |
How a lot life cowl can you purchase?
The minimal Primary Sum Assured below LIC Jeevan Raksha is ₹5 lakh and the utmost is ₹24 lakh.
The Sum Assured could be chosen in:
- ₹50,000 multiples between ₹5 lakh and ₹7 lakh
- ₹1 lakh multiples above ₹7 lakh
The utmost cowl is topic to LIC’s underwriting coverage. And that is maybe a very powerful level to remember.
Is ₹24 lakh sufficient time period insurance coverage?
For a lot of households, ₹24 lakh will not be enough as their main life insurance coverage cowl.
For instance, a teen with a partner, kids, house mortgage and different monetary duties might require a a lot bigger life cowl.
The quantity of time period insurance coverage you want ought to ideally be primarily based on your loved ones’s monetary necessities — excellent liabilities, future targets, earnings substitute wants and current belongings — quite than on the utmost cowl out there below a specific coverage.
Subsequently, Jeevan Raksha’s ₹24 lakh most cowl could possibly be a limitation for somebody on the lookout for a big standalone time period insurance coverage coverage. It might, nevertheless, be related as an extra layer of safety or for somebody whose required cowl is inside this vary.
Who might take into account LIC Jeevan Raksha?
LIC has historically been related to endowment, money-back and different savings-oriented insurance coverage merchandise.
Jeevan Raksha is totally different. It doesn’t provide bonuses or maturity advantages. As an alternative, it focuses on the core function of life insurance coverage — offering monetary safety towards the danger of untimely dying.
It’s due to this fact conceptually much like different pure-term merchandise in LIC’s portfolio, comparable to New Jeevan Amar, New Tech-Time period, Yuva Time period, Digi Time period and Bima Kavach.
Nonetheless, Jeevan Raksha is positioned otherwise when it comes to the quantity of canopy it affords. Whereas a number of of LIC’s different time period plans goal prospects looking for ₹50 lakh or larger safety, Jeevan Raksha permits a a lot decrease Primary Sum Assured, beginning at ₹5 lakh and going as much as ₹24 lakh.
| LIC Time period Insurance coverage Plan | Minimal Primary Sum Assured |
|---|---|
| Jeevan Raksha | ₹5 lakh |
| New Jeevan Amar | ₹25 lakh |
| New Tech-Time period | ₹50 lakh |
| Yuva Time period | ₹50 lakh |
| Digi Time period | ₹50 lakh |
| Bima Kavach | ₹2 crore |
Subsequently, the essential query isn’t merely, “Is Jeevan Raksha LIC coverage?” A greater query is: “Does Jeevan Raksha provide the correct quantity of life cowl at a aggressive premium for my wants?”
LIC Jeevan Raksha could also be value contemplating for somebody who:
- Has a restricted or comparatively low earnings and is on the lookout for an reasonably priced fundamental life insurance coverage cowl.
- Is beginning their monetary journey and needs to have some life insurance coverage safety quite than remaining uninsured.
- Has restricted monetary commitments and due to this fact doesn’t require a really giant life cowl.
- Needs a easy pure-term insurance coverage plan with out financial savings or funding options.
- Already has life insurance coverage and needs so as to add a small quantity of extra safety.
- Prefers LIC because the insurer and finds the premium reasonably priced.
Your insurance coverage want could also be excessive, even when your earnings is low. An individual with restricted earnings can nonetheless have dependents and important monetary duties, however might not have the monetary capability to purchase a big time period insurance coverage cowl. In such conditions, a plan like Jeevan Raksha might assist present some fundamental monetary safety quite than remaining fully uninsured.
So, if ₹24 lakh is the utmost cowl one can moderately take into account inside this specific plan, it may be higher than having no life insurance coverage in any respect—however the person also needs to assess whether or not this quantity would truly be enough for the household’s wants.
Last ideas
Time period insurance coverage is about balancing ample safety with what you possibly can realistically afford primarily based in your earnings and monetary state of affairs.
LIC Jeevan Raksha is one other pure-term possibility that may be in contrast with different plans on premium, protection, coverage time period, options and insurer suitability.
Your insurance coverage want could also be excessive, however your earnings might not let you afford a excessive cowl as we speak. In such instances, an reasonably priced cowl can nonetheless be higher than remaining uninsured. As your earnings and monetary duties develop, evaluate your insurance coverage wants and enhance your cowl if required.
Proceed studying:
(Submit first printed on : 02-Sep-2026)
Be aware: LIC Jeevan Raksha is a brand new insurance coverage plan scheduled to be out there from September 7, 2026. The knowledge offered on this article is predicated on the restricted data presently out there and could also be up to date, revised or edited sooner or later as extra particulars, together with the official coverage doc and product phrases, change into out there. Readers are suggested to confirm the newest phrases and situations with LIC earlier than making any insurance coverage choice.