LIC Micro Bachat Plan 951
Maturity Calculator
LIC Micro Bachat Plan 951 Maturity Calculator is an online calculator tool designed to estimate the maturity benefits and premium values of this Micro Bachat insurance plan. Users can determine the expected maturity amount by including the sum assured, age, and policy term.
LIC Micro Bachat Plan Summery
LIC’s Micro Bachat Plan - Eligibility
- Min. Policy Term:Â 10 years
- Max. Policy Term:Â 15 years
- Premium Paying Term:Â 10 Years to 15 Years.
- Min. Basic Sum Assured:Â Rs. 50,000/-
- Max. Basic Sum Assured:Â Rs. 2,00,000/-
- Min. Entry Age:Â 8 years.
- Max. Entry Age:Â 55 years.
- Maximum Age at Maturity:Â 70 years.
- Premium Payment Options:Â Yearly, Half-yearly, Quarterly & Monthly.
- Accidental Death & Disability Benefit Rider: Available on payment of extra premium.
LIC’s Micro Bachat Plan - Benefits
- On Death: Sum Assured + Loyalty Addition if any,
where sum assured on death:
     105% of all premium paid or 7 times of Annualized Premium, whichever is higher.
     Loyalty Addition if any shall be paid only if he died after completion of 5th Year.
- On Survival: Sum Assured + Loyalty Addition if any.
- Surrendered Value: The Policy can be surrendered after completion of minimum of one full years of premiums been paid.
- Loan: Loan Facility is available only after payment of premiums for at least three years.
- Income Tax Benefit: Premium paid under this plan is eligible for TAX rebate under section 80c. and maturity benefits is free under Sec 10(10D).