2 New LIC Plans: Are Your Returns Worth It?
LIC launched two new insurance plans — Bima Platinum and Jeevan Raksha — on its 70th anniversary. Both are non-participating, non-linked plans. Here's what that means for your family's money and whether these plans are worth buying.
LIC's new plans launch on its 70th birthday — older than most of your parents' first salary slips.
LIC's Bima Platinum & Jeevan Raksha — should your family buy them?
Key Takeaways
Compare LIC Jeevan Raksha's premium per ₹1 crore cover against at least 2 private term insurers on IRDAI's Bima Bharosa portal before buying.
Calculate the IRR (internal rate of return) on Bima Platinum using LIC's benefit illustration — if it's below 6%, a PPF plus pure term plan combo will likely beat it.
Ask your agent for the policy's full benefit illustration document — IRDAI rules require insurers to show projected returns at 4% and 8% so you can compare apples to apples.
LIC launched two new insurance plans — Bima Platinum and Jeevan Raksha — on its 70th anniversary. Both are non-participating, non-linked plans. Here's what that means for your family's money and whether these plans are worth buying.
Here's what happened: LIC launched two new policies — Bima Platinum and Jeevan Raksha — on its 70th anniversary, announced by MD & CEO R Doraiswamy.. Both plans are non-participating (no profit-sharing bonus) and non-linked (not connected to stock markets), offering fixed, guaranteed benefits.. The two plans differ in structure: Bima Platinum is a savings-cum-insurance plan while Jeevan Raksha is oriented toward life protection coverage..
What you should do: Compare LIC Jeevan Raksha's premium per ₹1 crore cover against at least 2 private term insurers on IRDAI's Bima Bharosa portal before buying.. Calculate the IRR (internal rate of return) on Bima Platinum using LIC's benefit illustration — if it's below 6%, a PPF plus pure term plan combo will likely beat it.. Ask your agent for the policy's full benefit illustration document — IRDAI rules require insurers to show projected returns at 4% and 8% so you can compare apples to apples..
Non-participating LIC plans lock in returns forever — if inflation rises, your real returns erode. Always check the IRR in the benefit illustration, not just the maturity amount.
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- [1]“LIC introduces new Bima Platinum and Jeevan Raksha policies on 70th anniversary: Benefits, returns, tenure and more” mint - money · 1 Sept 2026
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