LIC Launches Two New Life Insurance Plans: Protection Plus (Plan 886) and Bima Kavach (Plan 887)

December 3, 2025 – Mumbai, India: The Life Insurance Corporation of India (LIC) has announced the launch of two new life insurance products – LIC’s Protection Plus (Plan 886) and LIC’s Bima Kavach (Plan 887) – expanding its protection and savings portfolio for customers across India. Both plans are available for sale with effect from December 3, 2025.

LIC Introduces Protection Plus (Plan 886)
A ULIP combining life cover with market‑linked savings
LIC’s Protection Plus (Plan 886) is a non‑participating, unit‑linked, individual savings‑plus‑protection plan designed for customers seeking life insurance cover along with market‑linked investment opportunities. The plan offers flexible fund choices, multiple premium‑payment terms, and the potential for long‑term wealth creation while ensuring financial protection for the policyholder’s family.

Key Features of Protection Plus

• Multiple ULIP fund options across debt, balanced, equity, and index‑linked categories.
• Life cover throughout the policy term, with the death benefit defined as the highest of:
  • Basic Sum Assured
  • Fund Value
  • 105% of total premiums received under the base policy
    A separate death benefit applies to any top‑up premiums.
• Maturity benefit includes the total fund value (base + top‑up) along with a refund of mortality charges, subject to policy conditions.
• Available online and through LIC’s agency and intermediary network.
• Multiple policy terms and premium‑paying terms to suit long‑term financial goals.

LIC Introduces Bima Kavach (Plan 887)
A high‑cover pure term plan with protection up to age 100

LIC’s Bima Kavach (Plan 887) is a non‑participating, non‑linked, individual pure risk term insurance plan focused exclusively on providing substantial life cover without any savings or investment component. The plan is designed for customers seeking high‑value term protection, with a minimum Basic Sum Assured of ₹2 crore and coverage that can extend up to age 100.

Key Features of Bima Kavach

• Choice between Level Sum Assured and Increasing Sum Assured options, allowing customers to maintain a constant cover or increase it over time to help offset inflation.
• A Life‑Stage Benefit Option, under specified conditions, enabling policyholders to enhance their life cover at key milestones such as marriage or the birth of children – without purchasing a new policy.
• Flexibility for nominees to receive the death benefit as a lump sum or in instalments over 5, 10, or 15 years, supporting structured income for dependants.
• Multiple premium‑payment options to suit different financial preferences.

Strategic Significance
With the launch of Protection Plus (Plan 886) and Bima Kavach (Plan 887), LIC aims to address the evolving needs of Indian customers who seek both savings‑plus‑protection ULIPs and high‑cover pure term insurance from a trusted national insurer. These plans strengthen LIC’s presence across two critical segments – market‑linked savings and long‑term protection – reinforcing its commitment to comprehensive financial security for policyholders.

Customers are encouraged to review the official product brochures and consult licensed advisors to understand suitability based on their financial goals and risk profile