LIC Micro Bachat (Plan 951) – Insurance Within Everyone's Reach
LIC Micro Bachat (Plan 951) is designed for families with limited income who want basic life insurance and savings. With SA as low as ₹50,000, it makes insurance accessible to all.
Key Features
- SA Range: ₹50,000 to ₹2,00,000 only
- For: Both male and female
- Age: 18 to 55 years
- Term: 10 or 15 years
- Bonus: ₹38/1000 SA/yr + FAB ₹450/1000
Super Affordable Premiums
Age 30, ₹1L SA, 15-year term: Annual Premium ≈ ₹9,155 (₹763/month). For a family earning ₹15,000/month: This is just 5% of income for life cover + savings!
Maturity Example
₹1L SA, 15yr: Bonus = ₹38 × 100 × 15 = ₹57,000. FAB = ₹450 × 100 = ₹45,000. Maturity = ₹1L + ₹57K + ₹45K = ₹2.02 Lakhs. You paid total ₹1.37L, get back ₹2.02L — 47% gain in 15 years.
Why Micro Plans Matter
India has ~300 million people without any insurance. Micro plans like Micro Bachat and Aadhaar Stambh/Shila bridge this gap by making insurance affordable, simple, and Aadhaar-based for easy enrollment even in rural areas.
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