Life Insurance Corporation of India (LIC) is set to introduce three new insurance plans for customers across India from October 19, 2026. The upcoming products cover retirement income, health insurance and financial protection against cancer.
LIC announced the development through a filing with the Bombay Stock Exchange (BSE) on Tuesday, October 13. The new offerings are LIC’s New Jeevan Dhara-II, LIC’s Health Shield and LIC’s New Cancer Cover.
While each plan is designed to address a different financial need, detailed information about premiums, eligibility requirements, coverage limits and policy conditions is yet to be released. Customers will need to review the official policy documents before deciding which plan suits their requirements.
LIC’s Three New Insurance Plans: What Do They Offer?
LIC’s latest offerings focus on retirement planning and protection against health-related financial risks.
New Jeevan Dhara-II is a deferred annuity plan intended to provide regular income after a specified deferment period. Health Shield is an individual health insurance plan, while New Cancer Cover is designed to provide financial protection against specified cancer-related risks.
According to LIC’s announcement, all three products will be available for purchase from October 19, 2026. However, the initial BSE disclosure provides only the names and broad categories of the plans, with further details awaited.
LIC New Jeevan Dhara-II: Retirement Income Plan
LIC New Jeevan Dhara-II is designed for individuals looking to arrange a regular income stream for their retirement years.
Under a deferred annuity plan, the annuity payments begin after a predetermined deferment period, in accordance with the policy terms. This structure allows customers to plan their future income needs before retirement.
Important details, including the minimum investment, deferment period, annuity payout options and payment amounts, have not yet been disclosed in the available announcement.
Prospective buyers should examine the complete policy document to understand the payment structure, available options and applicable conditions before making a decision.
LIC Health Shield and New Cancer Cover: Key Features
LIC Health Shield is an individual health insurance product intended to provide financial protection against specified health risks. The benefits available will depend on the coverage and conditions outlined in the policy.
LIC New Cancer Cover is designed to provide insurance benefits following a diagnosis of cancer covered under the policy. The extent of protection, eligible conditions and claim requirements will depend on the final policy terms.
Both products are categorised as pure-risk plans, which primarily focus on providing insurance protection rather than investment returns.
Details such as premiums, coverage amounts, eligibility criteria, waiting periods, exclusions and claim conditions have not yet been fully disclosed. Customers should wait for the official sales brochures to understand precisely what each plan covers.
What Should Customers Check Before Buying?
Although the three LIC plans are scheduled to become available on October 19, customers should avoid making a decision based solely on a product’s name or general description.
Before purchasing Health Shield or New Cancer Cover, buyers should carefully review the coverage limits, waiting periods, exclusions, treatment-related conditions and provisions relating to pre-existing illnesses, wherever applicable.
Those considering New Jeevan Dhara-II should pay particular attention to the deferment period, annuity options, payout schedule and policy exit conditions.
Premiums and benefits should be compared against individual financial needs and existing insurance arrangements. The suitability of each plan can be assessed more accurately once LIC publishes the complete terms and conditions.
Disclaimer: This article is intended for informational purposes only and does not constitute financial, investment or insurance advice. The features and availability of the plans are subject to LIC’s official policy documents and applicable terms. Customers should consult LIC’s official website or an authorised insurance representative to verify the latest details before purchasing a policy.