LIC Micro Bachat (Plan 951) Premium & Returns Calculator
Model LIC's micro-endowment plan designed for low-income households. Offers life cover and savings benefits up to a cap of ₹2 Lakhs.
Guide to LIC Micro Bachat Plan (Plan 951)
LIC's Micro Bachat (Plan 951) is a non-linked, participating micro-insurance endowment plan. It is aimed at promoting savings and providing life cover to low-income families at affordable premium outlays. The maximum sum assured under this plan across all policies is capped at ₹2,00,000, and it offers loyalty additions upon maturity.
Plan Eligibility & Key Actuarial Limits
| Policy parameter | Details and limits |
|---|---|
| Minimum Entry Age | 18 Years (Adult) / 8 Years (Child) |
| Maximum Entry Age | 55 Years |
| Maximum Maturity Age | 70 Years |
| Minimum Sum Assured | ₹50,000 |
| Maximum Sum Assured | ₹2,00,000 (across all Micro Bachat policies) |
| Policy Term Range | 10 to 15 Years |
Tax Benefits & Payout Options
Premiums qualify for Section 80C deductions. Maturity proceeds and death benefits are completely tax-exempt under Section 10(10D).
Frequently Asked Questions (FAQs)
What is the maximum Sum Assured in Micro Bachat?
What is paid on maturity in Plan 951?
What is the Auto-Cover facility in Micro Bachat?
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