India’s largest insurance company, LIC, has introduced two new insurance plans—Protection Plus and Bima Kavach.
These plans are designed to meet different needs and offer both protection and savings.
The main goal is to provide customers with easy-to-understand insurance that offers long-term confidence and benefits.
Protection Plus: A Combination of Protection and Savings
Protection Plus is ideal for people who want life insurance along with a small investment.
It is a linked savings plan, meaning your money can grow through market-linked returns while still giving you life cover.
One of the key features of this plan is flexibility. You can increase or decrease your sum assured later, which is not common in many other plans.
You can also withdraw funds after five years, offering financial help in emergencies.
This plan is customer-friendly because you decide your premium based on your budget, and LIC decides the coverage accordingly. Everything is transparent and simple from the beginning.
Benefits of LIC Protection Plus
The plan adjusts to different stages of your life.
If your income rises, you can increase your fund value by paying a top-up premium.
You can also increase the sum assured if needed.
Mortality charges deducted during the policy term are refunded at maturity, so the cost of life cover is returned to you at the end.
Bima Kavach: Strong Protection for Your Family
Bima Kavach is LIC’s second plan. It is a pure-risk insurance plan, which means it focuses entirely on providing financial protection to your family if something happens to you. It does not depend on market performance.
The plan offers two types of death benefits:
Fixed sum assured, or
Increasing sum assured, where the coverage grows every year—useful for inflation protection.
You can take this plan up to the age of 100, meaning long-term coverage. You can choose to receive the death benefit either as a lump sum or in installments.
Benefits of LIC Bima Kavach
Ideal for families looking for a secure future under any situation.
Allows you to increase the sum assured during important life events like marriage or childbirth.
Lower premium rates for women and non-smokers.
No maximum limit on the sum assured—you can select as much coverage as you want.
Why These Two New LIC Plans Stand Out
Modern customers prefer insurance plans that are flexible, simple, and suited to their lifestyle. LIC has built these features into both products.
Protection Plus is perfect for those who want insurance plus investment.
Bima Kavach is ideal for families wanting strong and straightforward protection.
Features such as increasing or decreasing coverage, choosing your premium, receiving extra maturity benefits,
and selecting how the death benefit is paid make these plans unique and highly valuable.
