Official Notice from LIC: The 6 plans listed below (Sr. No. 1-6) have been withdrawn from new sales during Financial Year 2025-26. This is confirmed on LIC’s official “Withdrawn Plans” page (licindia.in/withdrawn-plans, updated February 19, 2026).
Critical reassurance: All existing policyholders are fully protected – no changes to your premiums, benefits, maturity proceeds, death claims, or tax treatment. New buyers need active alternatives.
This guide covers exactly what each plan offered, why they were withdrawn, your rights as a policyholder, and recommended next steps (especially if planning before March 31 for Old Regime tax benefits).
Official List: 6 Plans Withdrawn in FY 2025-26
| Sr. No. | Product Name | Plan No. | UIN No. | Plan Category |
|---|---|---|---|---|
| 1 | LIC’s Jeevan Akshay-VII | 857 | 512N337V06 | Immediate Annuity |
| 2 | LIC’s New Jeevan Shanti | 758 | 512N338V07 | Deferred Annuity |
| 3 | LIC’s Nav Jeevan Shree | 912 | 512N387V01 | Endowment + Guaranteed Additions |
| 4 | LIC’s New Endowment Plus | 735 | 512L301V03 | Endowment Plan |
| 5 | LIC’s Bima Ratna | 764 | 512N345V02 | Whole Life Protection |
| 6 | LIC’s Jeevan Azad | 768 | 512N348V02 | Child Insurance Plan |
Source: Directly from licindia.in/withdrawn-plans FY 2025-26 section.
What Each Plan Offered (Quick Profiles)
1. Jeevan Akshay-VII (857) – Immediate Annuity
- Single premium payment → Lifelong pension starts immediately
- Payout options: Monthly, quarterly, annual, or joint life
- Guaranteed income regardless of investment performance
- Target buyers: Retirees, senior citizens seeking steady income
2. New Jeevan Shanti (758) – Deferred Annuity
- Pay premiums now → Pension begins later (from age 46)
- Guaranteed annuity for fixed period or lifetime
- Return of purchase price option on death (certain variants)
- Target buyers: Long-term retirement planners
3. Nav Jeevan Shree (912) – High-Yield Endowment
- Limited premium: 6, 8, 10, or 12 years only
- Guaranteed Additions: 8.5%-9.5% of annual premium
- Minimum Sum Assured: ₹5 lakh
- Launched July 2025 → Withdrawn early 2026 (short lifecycle)
- Maturity: Sum Assured + vested additions
4. New Endowment Plus (735) – Traditional Savings
- Classic endowment structure (premiums → maturity + death benefit)
- Limited or regular premium paying terms
- Reliable for: Medium-term savings + family protection
- Tax benefits: Section 80C premiums + 10(10D) payouts
5. Bima Ratna (764) – Permanent Protection
- Whole life coverage + optional term rider
- High Sum Assured at competitive premiums
- Lifelong death benefit protection
- Target: Young professionals/families
6. Jeevan Azad (768) – Child Protection
- Premium waiver if parent dies during term
- Child maturity benefit guaranteed regardless
- Covers child’s education/marriage goals
- Built-in flexibility for growing families
Why These Plans Were Withdrawn (Industry Standard)
LIC withdraws 20-50+ plans annually from their 300+ portfolio. Reasons include:
- IRDAI Product Lifecycle: Plans have 2-5 year “shelf life” before refresh
- Pricing Evolution: Updated mortality tables, interest rates, claims data
- Market Competition: Newer plans offer better features/rates
- Regulatory Compliance: Mandatory product rationalization
Important: Withdrawals occur throughout the financial year, not just March 31. These 6 were pulled between January-February 2026 (per LIC’s February 19 update).
Existing Policyholders: Your Complete Protection
No changes whatsoever to any of these 6 plans:
✅ Premium schedule: Unchanged – pay on time
✅ Maturity benefits: Full amount + guaranteed additions/bonuses (if applicable)
✅ Death benefits: Tax-free under Section 10(10D), conditions apply
✅ Surrender value: Available per policy terms (avoid early years – low payout)
✅ Policy loans: Continue (typically 90% of surrender value)
✅ Tax treatment: Premiums qualify for 80C (Old Regime); payouts often tax-free
Your 4-step action plan:
- Continue premiums without interruption
- Avoid premature surrender (lose 30-50% of money paid in first 3-5 years)
- Update nomination if family circumstances changed
- Keep all documents safe (policy bond, passbook, receipts)
New Buyers: Focus on Active Alternatives
These 6 plans are unavailable for fresh purchases. For FY 2025-26 tax-saving (Old Regime Section 80C up to ₹1.5 lakh):
Category-Based Replacements (All Currently Active)
| Original Plan Category | Recommended Active Alternative | Why Suitable |
|---|---|---|
| Annuity (857, 758) | LIC’s Saral Pension (862) | Immediate/deferred annuity options |
| Endowment (912, 735) | LIC’s Jeevan Utsav (871) | Guaranteed additions + lifelong income |
| Protection (764) | LIC’s Saral Jeevan Bima (859) | Pure term, low-cost, high cover |
| Child Plan (768) | LIC’s New Children’s Money Back | Premium waiver + child maturity |
All qualify for 80C + Section 10(10D) tax-free payouts (verify conditions).
Frequently Asked Questions
Q: “Will my maturity amount reduce?”
A: No – full benefits as promised at purchase.
Q: “Recent purchase – can I cancel?”
A: Free-look period (15-30 days from receipt). Contact branch immediately.
Q: “Are all LIC plans risky?”
A: No – withdrawals normal (20-50/year). LIC remains India’s safest insurer.
Q: “Tax-saving still possible before March 31?”
A: Yes – active plans qualify for Section 80C (Old Regime).
Q: “How do I verify my policy’s status?”
A: 1) licindia.in/withdrawn-plans 2) Match Plan No./UIN 3) Call 022-68276827
Free Policy Status Check
Shagun Verma – LIC Insurance Advisor based in India
What I can verify for you (15 minutes, free):
- Status of YOUR specific LIC plans
- Coverage adequacy calculation
- Active alternatives + premium quotes
- Old vs New Tax Regime comparison
Contact: WhatsApp “WITHDRAWN LIST” to 7651032666
Website: lifeinsuranceadvisor.in
No sales pressure – just facts to protect your family’s financial security.
Important Disclaimer (Educational Purpose Only)
Content based on licindia.in/withdrawn-plans (accessed March 6, 2026).
- Verify independently: Always check official LIC website
- Tax advice: Consult Chartered Accountant (Sections 80C, 10(10D))
- Premium illustrations: Vary by age, health, smoking status (figures exclude GST)
- IRDAI compliance: Insurance involves risk. Read sales brochure + policy document carefully before purchase.
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