These 19 LIC Policy Schemes will be Discontinued from 31st January

If you are planning to buy any of these 19 LIC policies, you must opt-in before 31st January 2020. These Insurance policies are being discontinued due to new guidelines of insurance regulatory IRDA which will come into effect from 1st February 2020.

List of 19 LIC Policies being Discontinued

1. Plan No. 814: New Endowment Plan
2. Plan No. 815: New Jeevan Anand
3. Plan No. 817: Single Premium Endowment Plan
4. Plan No. 820: New Money Back Plan
5. Plan No. 822: Anmol Jeevan 2
6. Plan No. 830: Limited Premium Endowment Plan
7. Plan No. 832: New Children’s Money Back Plan
8. Plan No. 833: Jeevan Lakshya
9. Plan No. 834: Jeevan Tarun
10. Plan No. 836: Jeevan Labh
11. Plan No. 839: Bhagya Lakshmi
12. Plan No. 840: New Jeevan Mangal Plan
13. Plan No. 843: Aadhar Stambh
14. Plan No. 844: Aadhaar Shila plan
15. Plan No. 845: Jeevan Umang plan
16. Plan No. 847: Jeevan Shiromani
17. Plan No. 848: LIC Bima Shree
18. Plan No. 851: Micro Bachat Plan
19. Plan No. 835: New Endowment Plus (ULIP Plan)

Insurance Regulatory and Development Authority (IRDA) has created new guidelines for linked and non-linked life insurance policies. IRDA has asked all insurance companies to prepare all their policies under the new guidelines. All Insurance companies will have to follow the new guidelines from 1st February 2020. So if you want to buy these old plans you can buy them before 31st January 2020.

Also, note there will be no change in old policy premiums and benefits post these new guidelines.