Life Insurance Corporation of India (LIC) has launched New Bima Jyoti, a non-participating, non-linked individual savings plan, effective August 10, 2026. The plan is designed for customers seeking guaranteed maturity benefits and long-term savings with life cover.
As a non-par product, New Bima Jyoti does not share profits with policyholders; instead, benefits are defined and fixed at the time of purchase. The product aligns with LIC's strategy of shifting its mix towards non-participating plans, which carried higher value of new business margins in Q1 FY27.
The launch comes as the industry reports rising new business premium and higher average sums assured, signalling growing demand for protection and savings products.
Sources: Media reports, LIC announcements (August 7-10, 2026)