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New Delhi: The festival of Diwali is about to be celebrated and before this special occasion, the country’s leading government insurance company LIC has given a big gift to the insured holders. LIC has launched two schemes in its new Next Gen GST regime. Their names include LIC’s JAN SURAKSHA (Plan 880) and LIC’s BIMA LAKSHMI (Plan 881). In this, insured holders will get facilities like auto cover facility as well as guaranteed additions.

LIC CEO and MD R Doriswami launched these schemes on Thursday, 16 October 2025. Both the plans come with an auto cover facility and guaranteed additions after three years of premium payment, which assures financial security for investors and policyholders. So let’s find out what are the specialties of these planes.

LIC Jan Suraksha (Plan 880)

It is a micro insurance plan for the low income group, which fulfills the dream of affordable and easy insurance. This is a non-participating and non-linked individual savings plan, which is available to standard healthy people without a medical examination. Every year 4% of guaranteed additions are available at the annualized premium at the end of the policy term. If the policyholder dies suddenly, the family gets financial support and a lump sum amount to the surviving policyholder on maturity.

• Entry Age: 18 to 55 years
• Basic Sum Assured: Minimum Rs 1 lakh, maximum Rs 2 lakh (in multiple of Rs 5,000.
• Policy Term: 12 to 20 years
• Policy Term: 5 years

LIC Bima Lakshmi (Plan 881)

This scheme is specially designed for women, which provides fixed money back after every 2 or 4 years (or when premium payments are discontinued) along with life cover. This is also a non-participating and non-linked plan. Guaranteed additions will be available under the policy at 7% total tabular annual premium every year. The female critical illness rider is available at an additional premium, which makes it more attractive.

• Entry Age: 18 to 50 years
• Policy Term: 25 years
• Premium payment term 7 to 15 years
• Basic Sum Assured: Minimum of 2 lakh rupees, no maximum limit
• Sum Assured Multiple: In multiples of 10,000 rupees
• In this plan, auto cover facility is available on full premium payment of three years.