New Delhi, Oct. 16 -- Life Insurance Corporation of India (LIC), the country's largest insurer, has introduced two new insurance products for the domestic market, available from 15 October. The two offerings, LIC Jan Suraksha and LIC Bima Lakshmi, are designed to cater to different individual needs, providing financial protection and savings benefits.

These are the first products LIC has launched under the new next-gen GST regime, the insurer said in a statement.

The LIC Jan Suraksha plan is a low-cost insurance scheme for individuals, particularly those from lower-income groups and economically weaker sections of society. It is a non-participating and non-linked insurance scheme, which means that it is not linked to the market or bonus...