LIC Insurance Plans List 2026: All Plans & Benefits

Choosing the right life insurance policy is an important part of financial planning. LIC Insurance Plans List 2026 includes policies designed for different needs such as life protection, long-term savings, guaranteed income, children’s financial planning, retirement income, and market-linked investment.

Life Insurance Corporation of India (LIC) offers a broad range of plans with different policy terms, premium structures, benefits, and eligibility conditions. Therefore, the best LIC plan depends on your financial goals, age, income, protection requirements, and investment horizon.

This guide explains the major categories of LIC insurance plans in 2026, their key features, suitability, and important points to compare before buying a policy. It also includes a quick comparison table to help you understand which type of LIC policy may fit different financial goals.

Important: LIC products, plan numbers, benefits, premiums, eligibility rules, and availability may change. Always verify the latest product information, brochure, policy document, premium quotation, and applicable terms on the official LIC website before purchasing a policy.

LIC Insurance Plans List 2026

LIC insurance products can broadly be divided into protection plans, savings plans, whole-life plans, money-back plans, child plans, pension and annuity plans, and unit-linked insurance plans.

Here is a simplified overview of the major LIC policy categories that consumers may consider in 2026:

1. LIC Term Insurance Plans

Term insurance is primarily designed to provide life protection for a selected period. Compared with savings-oriented policies, a term plan generally focuses on providing a higher life cover for a comparatively lower premium.

LIC has offered term insurance products for individuals looking for straightforward financial protection. Depending on the product, policyholders may have options related to policy terms, premium payment structures, riders, and other benefits.

Term insurance can be particularly important for individuals who have dependants, outstanding loans, or long-term financial responsibilities.

Policy Features

• Primarily designed for life protection.
• Can provide substantial life cover.
• Premium payment options depend on the selected product.
• Policy terms vary by product and eligibility.
• Optional riders may be available with eligible plans.
• Benefits are governed by the individual policy terms.

Perfect For

• Working professionals.
• Parents with dependent children.
• Individuals with home or other long-term loans.
• Self-employed individuals.
• Anyone seeking financial protection for dependants.

If your primary objective is protection rather than savings, compare the available LIC term insurance options with your required life cover and financial responsibilities before making a decision.

For readers interested in a broader comparison, our guide to LIC term insurance plans and benefits can be used as a related resource.

2. LIC Savings and Endowment Plans

Savings-oriented LIC policies combine life insurance protection with a savings component. These plans are often considered by people who want to create a disciplined long-term savings habit while maintaining life insurance coverage.

Endowment policies generally provide benefits according to the selected policy structure and applicable terms. Depending on the plan, the policy may provide a maturity benefit if the life assured survives the policy term, while death benefits can apply according to policy conditions.

These policies may be suitable for financial goals such as children’s education, future family expenses, wealth accumulation, or other planned requirements.

Policy Features

• Life insurance protection.
• Long-term savings component.
• Maturity benefit may be available under applicable conditions.
• Premium payment terms vary.
• Certain plans may provide bonuses or additions according to their terms.
• Loan facilities may be available for eligible policies.

Perfect For

• Conservative savers.
• Individuals planning long-term goals.
• Families seeking insurance with savings.
• People who prefer disciplined premium-based financial planning.

Before buying an endowment policy, compare the premium, policy term, guaranteed benefits, non-guaranteed benefits, maturity value, and surrender conditions.

3. LIC Jeevan Utsav

LIC Jeevan Utsav is a whole-life-oriented non-linked, non-participating individual savings life insurance plan. It is designed around long-term financial protection and guaranteed additions, subject to the policy terms and conditions.

One of the important aspects of Jeevan Utsav is its focus on guaranteed benefits. Depending on the option selected and policy conditions, the plan can provide benefits during the policyholder’s lifetime and death benefit protection.

Because this is a long-term insurance product, buyers should carefully understand the premium payment period, benefit commencement, guaranteed additions, survival benefits, death benefit, and applicable conditions before purchasing.

Policy Features

• Whole-life insurance-oriented structure.
• Non-linked and non-participating plan.
• Guaranteed additions according to policy conditions.
• Choice of benefit options may be available.
• Death benefit is payable according to policy terms.
• Long-term financial planning potential.

Perfect For

• Individuals looking for long-term financial security.
• Families seeking life insurance protection.
• People interested in guaranteed-benefit structures.
• Long-term savers.
• Individuals planning future income or legacy requirements.

You can read our detailed LIC Jeevan Utsav Plan 771 guide to understand its policy features, benefits, eligibility, and important conditions in greater detail.

Note: Always verify the current plan number and product details against the latest LIC documentation before publishing or purchasing, as LIC may revise product offerings.

4. LIC Jeevan Anand

LIC Jeevan Anand is one of the better-known LIC savings-oriented insurance products. Its structure combines insurance protection with long-term savings.

The plan is designed to provide a maturity benefit when the policyholder survives the policy term, subject to applicable conditions. The death benefit structure provides protection for the policyholder’s family according to the policy document.

A major attraction of savings-cum-insurance products is the combination of financial protection and disciplined long-term savings. However, customers should not select a policy solely because of its brand recognition. Premium affordability, required life cover, financial goals, and policy duration should all be considered.

Policy Features

• Life insurance protection.
• Savings-oriented structure.
• Maturity benefit subject to policy terms.
• Death benefit for eligible claims.
• Bonus-related benefits may apply according to the policy.
• Loan facility may be available under applicable conditions.

Perfect For

• Long-term savers.
• Families seeking insurance and savings.
• Individuals planning future financial goals.
• Conservative investors.

5. LIC Jeevan Umang

LIC Jeevan Umang is a whole-life insurance plan designed to provide long-term protection along with survival-related benefits after completion of the premium-paying period, subject to policy conditions.

The plan may appeal to people looking for a combination of life insurance and long-term income-oriented planning. Its whole-life structure can also make it relevant for individuals considering family protection and legacy planning.

However, customers should carefully examine the benefit illustration and understand which benefits are guaranteed and which, if any, depend on future bonuses or other conditions.

Policy Features

• Whole-life insurance structure.
• Long-term family protection.
• Survival benefits according to policy terms.
• Death benefit during the applicable policy period.
• Bonus benefits may apply according to policy conditions.
• Long-term savings component.

Perfect For

• Individuals planning long-term income.
• Families seeking extended life cover.
• Conservative financial planners.
• People with long-term savings goals.

6. LIC Jeevan Labh

LIC Jeevan Labh is a limited-premium savings-oriented life insurance plan. It is designed for individuals who want life insurance protection while paying premiums for a defined period rather than throughout the entire policy term.

The plan can be considered for long-term financial goals because its structure encourages disciplined savings. Depending on the applicable terms, maturity benefits and bonuses can form part of the overall policy benefits.

Policy Features

• Limited premium payment structure.
• Life insurance protection.
• Savings and maturity benefit.
• Bonus benefits may apply according to policy terms.
• Long-term financial planning potential.

Perfect For

• Salaried individuals.
• Long-term savers.
• Families planning future expenses.
• Individuals seeking limited premium payment options.

7. LIC Jeevan Lakshya

LIC Jeevan Lakshya is designed around savings and family financial protection. It can be particularly relevant for individuals who are building funds for future family goals.

The policy’s benefits depend on the selected terms and applicable policy conditions. Prospective buyers should review the official benefit illustration to understand premiums, maturity benefits, death benefits, bonuses, and policy duration.

Policy Features

• Savings-oriented life insurance.
• Family financial protection.
• Maturity-related benefits.
• Bonus benefits may apply.
• Designed for long-term financial goals.

Perfect For

• Parents.
• Families with long-term financial commitments.
• Individuals planning education or family expenses.
• Long-term conservative savers.

8. LIC Money-Back Plans

Money-back insurance plans are designed for customers who want periodic survival benefits during the policy term rather than receiving the primary savings benefit only at maturity.

These plans may provide liquidity at predetermined stages, subject to policy conditions. This feature can be useful for people who anticipate planned expenses during the policy period.

Policy Features

• Life insurance protection.
• Periodic survival benefits under applicable plans.
• Maturity benefit according to policy terms.
• Death benefit according to policy conditions.
• Premium payment options vary by product.

Perfect For

• People who want periodic policy benefits.
• Families with planned financial expenses.
• Conservative savers.
• Individuals seeking insurance with scheduled liquidity.

When comparing money-back policies, consider the total premium paid against the overall benefits rather than focusing only on periodic payouts.

9. LIC Child Insurance Plans

LIC has also offered products designed around children’s financial planning. Child-focused insurance policies can help parents build funds for important future milestones such as higher education or other major expenses.

The suitability of a child plan depends on the child’s age, parent’s income, target amount, investment horizon, and affordability.

Policy Features

• Child-focused financial planning.
• Life insurance-related benefits.
• Long-term savings structure.
• Benefits designed around future milestones.
• Policy conditions determine maturity and death benefits.

Perfect For

• Parents planning higher education expenses.
• Parents building a long-term corpus.
• Families seeking disciplined savings.
• Guardians planning future financial requirements.

Parents should also compare a traditional child insurance plan with other financial products before making a final decision.

10. LIC Pension and Annuity Plans

Retirement planning becomes increasingly important as people live longer and need dependable post-retirement income. LIC offers pension and annuity-oriented products designed for different retirement requirements.

Annuity products can provide regular income according to the chosen annuity option and policy conditions. Some plans are designed for immediate income, while others can involve deferred retirement planning.

Policy Features

• Retirement-focused financial planning.
• Regular annuity income under applicable plans.
• Different annuity options may be available.
• Single-life and joint-life options may be available in eligible products.
• Benefits depend on the selected annuity option.

Perfect For

• Retired individuals.
• Pre-retirees.
• Individuals seeking regular income.
• Investors planning retirement security.

For a broader retirement-planning resource, readers can explore our guide to LIC pension and retirement plans.

11. LIC New Jeevan Shanti

LIC New Jeevan Shanti is a deferred annuity-oriented product designed for retirement and future income planning. It may be suitable for individuals who want to create an income stream after a selected deferment period.

The annuity option selected at purchase is important because it determines how the future income is structured. Buyers should therefore understand the annuity rate, deferment period, payment frequency, and applicable terms before investing.

Policy Features

• Deferred annuity structure.
• Retirement-oriented planning.
• Different annuity options.
• Income can begin after the applicable deferment period.
• Terms vary according to the selected option.

Perfect For

• Pre-retirees.
• Individuals planning future pension income.
• Conservative investors.
• People seeking structured retirement income.

12. LIC Saral Pension

LIC Saral Pension is an immediate annuity product aimed at individuals seeking regular income after investing a lump sum, subject to the applicable policy conditions.

Immediate annuity products can be useful for retirees who want to convert a portion of their accumulated retirement corpus into a predictable income stream.

Policy Features

• Immediate annuity structure.
• Regular income according to the selected option.
• Simple annuity-oriented design.
• Multiple annuity options may be available.
• Terms depend on the policy selected.

Perfect For

• Retired individuals.
• Senior citizens.
• Individuals with retirement savings.
• People seeking regular pension-like income.

13. LIC ULIP Plans

Unit-linked insurance plans, commonly known as ULIPs, combine life insurance with market-linked investment. Unlike traditional guaranteed-benefit savings products, ULIPs are connected to investment funds and therefore involve investment risk.

LIC has offered ULIP products such as LIC Nivesh Plus, LIC SIIP, and LIC Index Plus. Investors should understand fund choices, charges, lock-in requirements, risk levels, and market volatility before purchasing.

For example, readers researching the product in more detail can explore our dedicated LIC Index Plus Plan 873 guide.

Policy Features

• Life insurance protection.
• Market-linked investment component.
• Investment fund options according to the product.
• Returns are linked to market performance.
• Investment risk is borne by the policyholder.
• Charges and lock-in conditions apply according to policy terms.

Perfect For

• Long-term investors.
• Individuals comfortable with market-linked risk.
• Investors seeking insurance and investment in one product.
• People with a long investment horizon.

ULIPs should not be compared directly with guaranteed savings plans because their risk and return structures are different.

LIC Insurance Plans 2026 Comparison Table

How to Choose the Best LIC Insurance Plan in 2026

There is no single LIC policy that is best for everyone. Your choice should begin with the purpose for which you are buying insurance.

If your priority is protecting your family’s income, a term insurance plan may be more appropriate than a savings policy. If you want insurance combined with disciplined long-term savings, an endowment or whole-life product may be worth evaluating.

Retirement-focused buyers should compare annuity and pension products based on their desired retirement income. Investors willing to accept market fluctuations can consider ULIPs after understanding their investment risks and charges.

Consider These Factors

• Your age and financial responsibilities.
• Required life insurance cover.
• Annual income and affordable premium.
• Policy term.
• Premium-paying period.
• Guaranteed benefits.
• Non-guaranteed benefits.
• Death benefit.
• Maturity benefit.
• Liquidity requirements.
• Loan and surrender provisions.
• Tax treatment under prevailing laws.
• Investment risk, where applicable.

LIC Insurance Plans for Different Financial Goals

For Family Protection

Term insurance is generally designed primarily for financial protection. Families should calculate the amount required to replace income, repay liabilities, and support future expenses.

For Long-Term Savings

Endowment and savings plans can suit individuals who prefer disciplined premium payments and insurance-linked savings.

For Guaranteed Benefits

Non-linked, non-participating products can be considered by people who prioritize clearly defined guaranteed benefits, subject to the product’s policy terms.

For Retirement

Pension and annuity plans can help create structured retirement income. Compare annuity options carefully because the selected option affects the income and other benefits.

For Children’s Future

Child-oriented insurance plans can be evaluated for long-term goals such as higher education and other major milestones.

For Market-Linked Growth

ULIPs provide market-linked investment exposure along with insurance. They are more suitable for investors who understand market volatility and can remain invested for the required horizon.

LIC Policy Features to Check Before Buying

Reading the policy brochure is important, but buyers should pay particular attention to the following details.

• Premium amount and payment frequency.
• Policy term.
• Premium-paying term.
• Sum assured.
• Guaranteed additions, if applicable.
• Bonuses or non-guaranteed benefits.
• Death benefit.
• Maturity benefit.
• Survival benefits.
• Surrender value.
• Paid-up conditions.
• Loan facility.
• Grace period.
• Exclusions.
• Revival conditions.
• Rider benefits.
• Tax treatment.

Do not judge a policy only by its maturity amount. A proper comparison should consider the total premiums paid, duration, protection provided, guaranteed and non-guaranteed benefits, and the financial flexibility offered by the policy.

LIC Insurance Plans and Tax Benefits

Life insurance policies may provide tax-related benefits under applicable provisions of Indian income-tax law. However, the availability and amount of any tax benefit depend on the policy, premium, taxpayer’s circumstances, and prevailing tax rules.

Tax rules can also change over time. Therefore, buyers should not purchase an insurance policy solely for tax savings.

Before making a decision, check the latest provisions applicable to your policy and consult a qualified tax professional if necessary.

Why Compare LIC Plans Before Buying?

LIC is a well-known insurance provider, but different policies are designed for different purposes. Comparing products helps you understand which plan aligns with your financial objective.

For example, a person looking for pure protection may need a different policy from someone planning retirement income. Similarly, a parent saving for a child’s future may have different requirements from an investor looking for market-linked growth.

A useful comparison should focus on the purpose of insurance, total cost, life cover, guaranteed benefits, potential benefits, liquidity, policy duration, and financial risk.

Avoid choosing a plan simply because it has a high maturity figure. Look at the complete benefit illustration and understand the conditions attached to every benefit.

LIC Insurance Plans 2026: Pros and Considerations

Potential Advantages

• Wide range of insurance categories.
• Options for protection and savings.
• Long-term financial planning.
• Child and retirement-oriented products.
• Guaranteed-benefit products are available in applicable categories.
• Pension and annuity options.
• Market-linked options for suitable investors.

Important Considerations

• Some savings policies require long-term commitment.
• Early surrender may affect the value received.
• Guaranteed and non-guaranteed benefits should be clearly distinguished.
• ULIPs carry market risk.
• Premium affordability should be assessed before purchasing.
• Policy terms and conditions vary significantly between products.

Frequently Asked Questions About LIC Insurance Plans 2026

Which LIC plan is best in 2026?

There is no universally best LIC plan. The right policy depends on your objective. Term insurance may be appropriate for pure protection, while savings plans, whole-life products, pension plans, or ULIPs may suit different financial goals.

Which LIC plan is best for family protection?

A term insurance policy is generally designed specifically for life protection. The appropriate sum assured should be based on your income, liabilities, dependants, and future financial responsibilities.

Which LIC plan is suitable for retirement?

LIC offers pension and annuity-oriented products for retirement planning. New Jeevan Shanti and Saral Pension are examples of products that can be evaluated, depending on the individual’s requirements and applicable terms.

Is LIC Jeevan Utsav a savings plan?

LIC Jeevan Utsav is a non-linked, non-participating individual savings life insurance plan with a whole-life-oriented structure. It includes guaranteed benefits according to its applicable policy terms.

Are LIC ULIPs market-linked?

Yes. ULIPs such as applicable LIC market-linked products connect the investment component to selected funds. Their value can rise or fall with market performance, and the policyholder bears the associated investment risk.

Can LIC insurance plans provide tax benefits?

Eligible life insurance premiums and benefits may receive tax treatment under applicable Indian tax laws. The actual benefit depends on prevailing legislation and individual circumstances.

Should I buy LIC insurance only for tax saving?

No. Insurance should primarily be purchased to meet your protection and financial planning needs. Tax treatment can be considered as one factor, but it should not be the sole reason for purchasing a policy.

Final Thoughts on LIC Insurance Plans List 2026

The LIC Insurance Plans List 2026 covers a broad range of financial needs, from pure life protection and long-term savings to children’s planning, guaranteed benefits, retirement income, and market-linked investments.

The most important step is to identify your financial goal before selecting a policy. A young earning professional may prioritize high life cover, while a parent may focus on children’s future expenses. Someone approaching retirement may prioritize regular income, whereas a long-term investor may consider market-linked products.

Before purchasing any LIC policy, compare the premium, policy duration, life cover, guaranteed benefits, non-guaranteed benefits, maturity value, surrender provisions, and applicable exclusions. Read the official policy document carefully and make sure the premium fits comfortably within your long-term budget.

For readers researching specific policies, our LIC Jeevan Utsav Plan 771 guide provides a dedicated overview, while the LIC Index Plus Plan 873 guide focuses on the market-linked insurance option.

Ultimately, the right LIC policy is not necessarily the one with the highest projected benefit. It is the one that matches your financial goals, protection requirements, risk tolerance, affordability, and investment horizon.

Disclaimer: This article is for general informational and educational purposes only. LIC products, plan numbers, benefits, premiums, eligibility requirements, tax rules, and availability may change. Verify all information with the latest official LIC documents before purchasing a policy. This article should not be treated as financial, investment, insurance, or tax advice.