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Plan No. 951Micro Insurance
LIC's Micro Bachat
"Small savings for big protection."
A regular premium, non-linked, participating micro-insurance plan offering protection and savings.
Key Features
- ✓Designed for low-income groups.
- ✓No medical examination required.
Eligibility Criteria
Minimum Age18 Years
Maximum Age55 Years
Minimum Term10 to 15 Years
Maximum Term10 to 15 Years
Min Sum Assured₹ 50,000
Max Sum Assured₹ 2,00,000
Plan Benefits
Death Benefit
Sum Assured on Death + Loyalty Additions.
Survival Benefit
N/A
Maturity Benefit
Basic Sum Assured + Loyalty Additions.
Real-World Example
Profile35-Year-Old Daily Wage Earner
Sum Assured₹ 1,00,000
Term Details15 Years
Annual Premium₹ 5,000 / Year
Expected ReturnsMaturity of ₹ 1,20,000
How it Works
A highly accessible plan. He saves roughly ₹ 400 a month. It provides a safety net of ₹ 1 Lakh for his family. After 15 years, he gets a lump sum to help with future expenses.