LIC Jan Suraksha 880 and Bima Lakshmi 881: Plan Features
Why in the news
LIC introduced two new life plans, its first launches after the GST change, aimed at financial inclusion and women’s empowerment.
Plan comparison
| Feature | Jan Suraksha (880) | Bima Lakshmi (881) |
|---|---|---|
| Type | Non-participating, non-linked savings plan | Non-linked, life cover with periodic money-back |
| For | Lower-income individuals | Women only |
| Policy term | 25 years | 25 years |
| Premium paying term | 5 years | 7 to 15 years |
| Minimum sum assured | ₹50,000 | ₹2,00,000 (no cap, subject to underwriting) |
Extra features
- Jan Suraksha: guaranteed additions of 4% of annualised premium; loan after one year of premiums.
- Bima Lakshmi: optional critical illness rider for extra premium.
Exam angle
- Women-only plan: Bima Lakshmi.