C-BLOCK, FLAT NO, RAJAGIRI VALLEY P O, CN-3, Kalangad Rd, Kakkanad, Kerala 682039
9349829440
felix@insurancesuperhub.in
LIC’s Micro Bachat Plan is a regular premium, non-linked, participating, life insurance plan specially designed for low-income individuals.
It offers protection and savings in one plan — giving your family financial security in case of death, and a lump-sum amount at maturity if you survive the term.
This plan helps small savers build a secure future with affordable premiums.
| Feature | Details |
|---|---|
| Plan Type | Non-linked, Participating, Regular Premium, Endowment Plan |
| Premium Payment Mode | Yearly, Half-yearly, Quarterly, or Monthly |
| Policy Term | 10 to 15 years |
| Minimum Entry Age | 18 years (completed) |
| Maximum Entry Age | 55 years |
| Maximum Maturity Age | 70 years |
| Minimum Sum Assured | ₹50,000 |
| Maximum Sum Assured | ₹2,00,000 |
| Loan Facility | Available after 3 years |
| Surrender Value | Available after 3 years |
| Bonus | Eligible for Simple Reversionary + Final Bonus |
Let’s assume:
You pay ₹10,000 per year for 15 years.
During the policy term, your life is covered for ₹2,00,000.
At the end of the policy term (if you survive), you receive:
Sum Assured + Bonuses (if any)
Example (approximate):
If total bonuses = ₹60,000,
✅ Maturity = ₹2,60,000
If the policyholder passes away during the term (after risk commencement):
Death Benefit = Sum Assured on Death + Bonuses (if any)
Sum Assured on Death = Higher of:
👉 Minimum Death Benefit = 105% of total premiums paid (excluding taxes and extra charges).
| Benefit | Description |
|---|---|
| Life Cover | Financial protection for family during the term |
| Savings Growth | Lump-sum maturity with bonuses |
| Low Premiums | Designed for small investors |
| Loan Facility | Available after 3 years |
| Tax Benefits | Under Sections 80C & 10(10D) of the Income Tax Act |
| Bonus Eligibility | Participates in LIC’s profit-sharing fund |
| Particular | Details |
|---|---|
| Age | 35 years |
| Policy Term | 15 years |
| Sum Assured | ₹2,00,000 |
| Annual Premium | ₹10,000 |
| Approx. Maturity Value | ₹2.5 – ₹2.7 lakh |
| Death Benefit | ₹2 lakh + Bonus |
✅ Affordable premiums — ideal for low and middle-income groups
✅ Combines insurance + savings
✅ Guaranteed protection with bonus benefits
✅ Loan and surrender flexibility
✅ Simple, hassle-free coverage under trusted LIC
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