LIC New Insurance Plans 2026 will offer three new options for people looking for retirement income, health protection and cancer-related financial security.
The Life Insurance Corporation of India (LIC) has announced that New Jeevan Dhara-II, Health Shield and New Cancer Cover will be available for purchase from October 19, 2026.
The three plans serve different purposes, so customers will need to compare their benefits and conditions before choosing one.
While New Jeevan Dhara-II focuses on retirement planning, the other two plans are designed to provide insurance protection against health-related risks.
 LIC New Insurance Plans 2026: Three Options Explained
LIC has announced the following products, each designed for a different financial need:
New Jeevan Dhara-II (Plan 892) is a deferred annuity plan intended to help people plan for regular income in retirement.
Health Shield (Plan 907) is an individual health insurance plan, while New Cancer Cover (Plan 908) focuses on financial protection against cancer-related risks.
All three products fall under the non-participating and non-linked categories.
This means they are not linked to market performance and do not participate in the insurer’s distributable profits through bonuses in the way participating policies may.
The plans will be available in the domestic market from October 19.
LIC has announced their names and broad categories, but buyers should review the official policy documents to understand the exact coverage, exclusions and conditions applicable to each product.
 New Jeevan Dhara-II: Retirement Income Planning
New Jeevan Dhara-II is designed for people who want to plan their finances for retirement.
As a deferred annuity product, it allows policyholders to arrange for annuity payments to begin after a chosen deferment period, subject to the policy’s terms.
The plan offers single-premium and regular-premium payment options, along with single-life and joint-life annuity choices.
It also provides a top-up annuity facility during the deferment period, subject to the applicable conditions. LIC states that annuity rates are guaranteed at the time of policy inception.
These features may be relevant to people who want to establish a predictable income stream after retirement.
However, the amount payable will depend on factors such as the premium, selected annuity option and policy conditions. Buyers should review the official sales brochure before estimating their future income.
 Health Shield and New Cancer Cover Benefits
LIC Health Shield is an individual health insurance plan intended to provide protection against specified medical risks. New Cancer Cover is designed specifically for cancer-related financial protection.
The two products are classified as pure-risk plans, meaning their primary purpose is insurance protection rather than market-linked investment returns.
However, the exact benefits, covered conditions, claim requirements and exclusions differ by policy and should be checked in the relevant documents.
People considering Health Shield should review the covered medical expenses, eligibility requirements and any waiting periods or exclusions stated in the policy.
Those considering New Cancer Cover should carefully examine how the policy defines covered cancer conditions and what benefits are payable at different stages, if applicable.
Neither plan should be selected solely on the basis of its name.
The actual level of protection depends on the policy terms, insured amount, premium and the circumstances in which a claim can be made.
When Can Customers Buy LIC’s New Plans?
All three plans are scheduled to become available for purchase on October 19, 2026
LIC has indicated that customers will be able to access the products through its sales channels, including its website and authorised insurance intermediaries.
Before purchasing, customers should compare the premium costs with their financial needs and existing insurance coverage.
They should also check the minimum and maximum entry ages, policy duration, payment options, exclusions and claim procedures in the official sales brochures.
For retirement planning, it is important to understand when annuity payments begin and whether the selected option meets long-term income needs.
For health and cancer protection, buyers should check what is covered and whether the policy complements their existing insurance.
The LIC New Insurance Plans 2026 launch gives customers three distinct options for retirement and health-related financial planning.
Their suitability will depend on individual circumstances, and the final decision should be based on the detailed policy terms rather than headline benefits alone.
