LIC Launches Bima Platinum and Jeevan Raksha Plans

Overview and Policy Categories

The Life Insurance Corporation of India (LIC) announced the official rollout of two distinct insurance policies, expanding its domestic product portfolio. According to regulatory filings submitted to stock exchanges on August 31, 2026, both products will be available for sale across India starting September 7, 2026.

The new offerings target two distinct segments of personal finance: wealth accumulation combined with life cover, and pure risk protection. The first offering, LIC's Bima Platinum (Plan 770), is structured as a non-linked, non-participating individual savings plan. The second offering, LIC's Jeevan Raksha (Plan 894), is designated as a non-linked, non-participating individual pure risk plan intended strictly for family financial security.

Structural Features and Product Mechanics

The two policies cater to varying consumer requirements through fundamentally different design frameworks:

• LIC's Bima Platinum: Functions as a limited-premium savings and protection plan that integrates guaranteed additions, booster benefits, and regular income payouts alongside life insurance coverage. It requires a minimum basic sum assured of ₹3 lakh with no upper ceiling, subject to the insurer's underwriting guidelines.

• LIC's Jeevan Raksha: Operates as a pure-risk term protection policy designed to offer a guaranteed, fixed death benefit to families if the insured passes away during the term. The plan offers a basic sum assured ranging between ₹5 lakh and ₹24 lakh, incorporating special pricing structures for female policyholders.

Regulatory Filings and Corporate Disclosures

According to official disclosures issued by the Life Insurance Corporation of India under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the products are intended exclusively for the domestic market and do not cater to international jurisdictions.

The formal notification was cleared and submitted to BSE Limited and the National Stock Exchange of India Limited by Company Secretary and Compliance Officer Anshul Kumar Singh.

"According to official announcements from the Corporation, the simultaneous introduction of Bima Platinum and Jeevan Raksha broadens consumer choice by addressing both long-term savings accumulation and pure-risk family protection needs," stated corporate filing disclosures.

Practical Implications for Policyholders

The launch gives retail investors and households structured options to match their financial goals. Consumers seeking disciplined savings alongside regular future income benefits can opt for the Bima Platinum framework. Conversely, breadwinners seeking high-coverage life insurance protection at affordable premium terms can utilize Jeevan Raksha. Financial advisors recommend evaluating individual risk appetite, family liabilities, and policy terms before selecting either product.

Key Facts at / Glance

• New Offerings: LIC's Bima Platinum and LIC's Jeevan Raksha.

• Launch Date: Available for purchase starting September 7, 2026.

• Market Scope: Exclusively designated for the domestic Indian market.

• Regulatory Filing: Submitted to BSE Limited and the National Stock Exchange of India Limited

Frequently Asked Questions

• What is the difference between Bima Platinum and Jeevan Raksha?

  Bima Platinum is a savings and protection plan that offers guaranteed additions and regular income, whereas Jeevan Raksha is a pure-risk term policy focused entirely on family financial protection.

• When will these new LIC policies become available for purchase?

  Both plans will be open for sale starting September 7, 2026.

• What is the minimum sum assured under Bima Platinum?

  The minimum basic sum assured for Bima Platinum is ₹3 lakh.

• Where can policyholders view official details of the new plans?

  Complete product particulars are hosted on the official Life Insurance Corporation of India (LIC)portal.

Source: Life Insurance Corporation of India Regulatory Filing on BSE/NSE, LIC Official Portal