In a major move aimed at strengthening long-term financial security, the Life Insurance Corporation of India (LIC) has introduced Bima Kavach, a non-linked insurance plan that offers guaranteed life coverage up to the age of 100.
The new policy is designed to provide families with extended financial protection, addressing evolving responsibilities and uncertainties over a lifetime.
Eligibility and Flexible Premium Options
The Bima Kavach plan is available to healthy individuals aged between 18 and 65 years, subject to medical examination and underwriting approval.
Policyholders can choose from multiple premium payment options, including:
-
Single premium (one-time payment)
-
Regular premium payments
-
Limited premium terms of 5, 10, or 15 years
LIC has also introduced preferential premium rates for non-smokers, encouraging healthier lifestyle choices while making coverage more affordable.
Coverage That Grows With Life Stages
A key highlight of Bima Kavach is its adaptive coverage structure. The sum assured increases automatically over time to help counter inflation and align with rising financial responsibilities.
The plan also includes a “Life Stage Event” feature for policyholders under 40 who opt for regular premiums with level coverage. This allows an increase in coverage during significant milestones such as marriage or the birth of a child.
Lifelong Protection Beyond Traditional Term Plans
Unlike conventional term insurance policies that typically end at 60 or 70 years of age, Bima Kavach provides protection up to 100 years. This extended coverage aims to offer peace of mind in an era marked by rising life expectancy and economic uncertainty.
According to LIC officials, the product is structured to provide long-term stability without exposure to market-linked risks.
Easy Online Purchase and Long-Term Focus
The plan is available for purchase online, making the process convenient and accessible. With its emphasis on guaranteed protection, flexible payment options, and inflation-adjusted coverage, Bima Kavach is positioned as a comprehensive solution for individuals seeking sustained financial security.
As insurance awareness grows in India, LIC’s latest offering is expected to attract policyholders looking for reliable and lifelong protection.