LIC 2025 Scheme – The Life Insurance Corporation of India (LIC) has once again brought a game-changing opportunity for senior citizens in 2025. With rising inflation and limited income options for retirees, this new scheme offers a secure way to earn a steady monthly income without the hassles of paperwork or health checks. This LIC scheme allows any Indian citizen aged 60 and above to deposit just ₹1 lakh once and receive a guaranteed ₹6,000 per month—directly into their bank account. Let’s explore the details, eligibility, benefits, and application process of this LIC Senior Citizen Monthly Income Plan in simple language.
What Is LIC’s 2025 Scheme for Senior Citizens?
LIC’s new plan for 2025 is specially designed to provide financial independence to retired individuals. By making a one-time investment of ₹1,00,000, eligible seniors can receive ₹6,000 monthly for a fixed period—without undergoing any medical tests.
Key Features of the Scheme:
- One-time deposit: ₹1 lakh only
- Monthly income: ₹6,000 credited directly to bank account
- Tenure: 10 years or lifetime (depending on plan option)
- No medical test or documentation required
- Last date to apply: 31 July 2025
- LIC-backed, government-supported scheme
Who Can Apply for LIC Senior Citizens Monthly Plan 2025?
This scheme is open to Indian residents who fulfill the basic eligibility criteria mentioned below.
Eligibility Criteria:
- Must be a resident Indian citizen
- Minimum age: 60 years (as of 31 July 2025)
- No maximum age limit
- PAN card and Aadhaar card required for verification
- Valid bank account linked with Aadhaar and PAN
Benefits of the LIC ₹1 Lakh Deposit Scheme
LIC’s scheme is tailored for peace of mind and consistent earnings, especially for those who lack pension or regular income post-retirement.
Major Benefits:
- Guaranteed Income: ₹6,000 per month for 10 years or more
- Secure Investment: LIC is a trusted public sector enterprise
- Zero Risk: No market-linked exposure
- No Medical Examination: Ideal for senior citizens with health issues
- No TDS Deduction: Monthly income is tax-free up to prescribed limits
- Simple Process: Minimal paperwork, Aadhaar-linked application
- Death Benefit: Nominee will receive residual corpus in case of subscriber’s demise
LIC’s Senior Scheme vs Other Investment Options
| Parameter | LIC Scheme 2025 | Fixed Deposit (Senior) | SCSS (Post Office) | Mutual Funds (Debt) |
|---|---|---|---|---|
| Monthly Return | ₹6,000 | ₹4,500 – ₹5,200 | ₹5,000 approx | Varies (₹4,000–₹6,000) |
| Minimum Deposit | ₹1,00,000 | ₹1,00,000 | ₹1,000 | ₹5,000+ |
| Medical Test Required | No | No | No | No |
| Lock-in Period | 10 years | 5 years | 5 years | Flexible |
| Government Backing | Yes (LIC + GOI) | No | Yes | No |
| Risk Factor | Zero | Low | Low | Moderate |
| Nominee Benefits | Yes | Yes | Yes | Yes |
How to Apply for LIC ₹1 Lakh Scheme Before 31 July?
Applying for this LIC scheme is extremely easy, even for senior citizens with no digital experience. The entire process can be done in 30 minutes at any LIC branch or through doorstep agent assistance.
Step-by-Step Application Process:
- Visit the nearest LIC branch or contact your LIC agent
- Carry Aadhaar card, PAN card, bank passbook, and one passport-size photo
- Fill out the application form (available offline or online)
- Submit one-time payment of ₹1,00,000 via cheque, UPI, or NEFT
- Nominee details must be filled at the time of registration
- Confirmation receipt and monthly credit details will be provided
- Monthly ₹6,000 begins within 30–45 days from approval
Important Dates, Documents & Conditions
It’s crucial to apply on time as the scheme has a fixed closing date and limited batch approval.
Key Dates and Requirements:
| Item | Details |
|---|---|
| Scheme Launch Date | 1 July 2025 |
| Last Date to Apply | 31 July 2025 |
| Minimum Investment | ₹1,00,000 |
| Monthly Payout | ₹6,000 |
| Documents Needed | Aadhaar, PAN, Bank Details, Photo |
| Application Mode | Offline/Agent-assisted |
| Medical Test | Not Required |
| Age Eligibility | 60 years and above |
Additional Notes for Senior Citizens
Even if you already have pension income, this LIC scheme can act as an additional support system. Retired couples can apply separately to get ₹12,000 per month combined. Since this is not a market-based plan, the principal is always safe.
Other Highlights:
- You can assign a legal heir or family member as nominee
- Entire amount refunded to nominee in case of death before 10 years
- This scheme also qualifies for some income tax exemptions under 80C
LIC’s 2025 Senior Citizens Income Scheme is a golden opportunity for retirees looking for financial stability, especially without any medical checks or risks. A single deposit of ₹1 lakh ensures a ₹6,000 monthly income, which is a big relief for fixed-income households. With a simple process, secure returns, and government backing—this LIC plan should be seriously considered by all eligible senior citizens before the 31 July deadline.
FAQs
Q1. What is the last date to apply for LIC’s Senior Citizen Scheme?
A1. The last date is 31 July 2025. Applications after this date will not be accepted.
Q2. Is a medical test mandatory to apply for this LIC plan?
A2. No, medical tests are not required at all for this scheme.
Q3. How soon will I start getting the ₹6,000 monthly income?
A3. Payouts begin within 30–45 days after successful approval of your application.
Q4. Can both husband and wife apply separately?
A4. Yes, both can apply and each will receive ₹6,000 monthly—totaling ₹12,000.
Q5. Is the scheme available online?
A5. While the scheme itself is not fully online, you can begin the process through an LIC agent or by visiting your nearest LIC branch.