LIC to launch three new insurance plans on October 19, 2026: Annuity, health insurance and cancer cover to go on offer

Life Insurance Corporation of India (LIC) will launch three new insurance products on October 19, 2026. The new offerings include a deferred annuity plan, a health insurance plan and a cancer cover policy.

In a regulatory filing on the BSE today (Tuesday, October 13, 2026), LIC said that the products would be available for sale in the domestic market from October 19, 2026. The three products are LIC’s New Jeevan Dhara - II, LIC’s Health Shield and LIC’s New Cancer Cover.

The new plans fall under the non-participating and non-linked categories.

While New Jeevan Dhara - II is a savings and deferred annuity plan, Health Shield and New Cancer Cover are individual health insurance plans classified as pure risk plans.

Which three LIC insurance plans are set to be launched on October 19?

LIC has announced the launch of the following products:

When will the three new LIC plans be available?

The three insurance products will be available for sale from October 19, 2026. LIC has disclosed their names and broad product categories in its announcement.

Details such as premiums, eligibility conditions, benefits, policy terms and exclusions have not been disclosed in the BSE filing.

Prospective buyers should check the respective policy documents for these details before purchasing a plan.

What is a deferred annuity plan?

A deferred annuity plan is a type of retirement product that allows policyholders to accumulate funds over a specified period, known as accumulation phase, and then receive regular payouts, known as annuity payments, during the distribution phase (usually retirement).
 

What is a pure risk plan?

A pure risk plan in LIC (Life Insurance Corporation of India) is a term insurance policy that provides financial protection to your family if you pass away during the policy term.