LIC's Micro Bachat (Plan 751) Calculator
A Participating Non-Linked Micro Insurance Plan.
Note: Premiums are estimates based on sample rates & rebates. Maturity/Death benefits include *estimated, non-guaranteed* Loyalty Addition (LA). Actual LA depends on LIC's future profits. GST applies to premiums but Micro Insurance plans might be exempt (check current rules). Rider premiums are extra.
CHOOSE A PLAN (Base Premiums Estimated, incl. GST)
Micro Bachat plan presentation prepared.
Yearly
₹ 0 Base+Rebate: ₹ 0
GST (4.5%): ₹ 0
Total: ₹ 0
GST (4.5%): ₹ 0
Total: ₹ 0
Half Yearly
₹ 0 Base+Rebate: ₹ 0
GST (4.5%): ₹ 0
Total: ₹ 0
GST (4.5%): ₹ 0
Total: ₹ 0
Quarterly
₹ 0 Base+Rebate: ₹ 0
GST (4.5%): ₹ 0
Total: ₹ 0
GST (4.5%): ₹ 0
Total: ₹ 0
Monthly (NACH)
₹ 0 Base+Rebate: ₹ 0
GST (4.5%): ₹ 0
Total: ₹ 0
GST (4.5%): ₹ 0
Total: ₹ 0
Premium includes estimated rebates & GST (if applicable) for Base Plan. Rider premiums are extra. First Year GST Rate: 4.5%, Second Year onwards: 2.25%. Micro Insurance plans may have GST exemptions.
POLICY DETAILS
| Basic Sum Assured (BSA): | |
| Age at Entry: | |
| Policy Term (PT): | |
| Premium Paying Term (PPT): | |
| Sum Assured on Death (SAD): | |
| Selected Premium Mode: | |
| Estimated Annual Premium (Base): | |
| AD&D Rider Selected: | |
| AB Rider Selected: |
Key Features: Micro Insurance Plan, Regular Pay, Loyalty Additions (after 5 yrs). Loan available after 1 year. Auto Cover after 3 years.
MATURITY BENEFIT Incl. Estimated Loyalty Addition
On survival to end of Policy Term, the **Maturity Benefit** payable is:
| Sum Assured on Maturity (BSA) | Estimated Loyalty Addition (LA) | Total Estimated Maturity |
|---|---|---|
Disclaimer: Loyalty Addition (LA) is illustrative, not guaranteed, and depends on LIC's future profits and policy duration (min 5 yrs). Payable only if Maturity BSA >= ₹1 Lakh (applicable here).
DEATH BENEFIT FOR NOMINEE Incl. Estimated Loyalty Addition
| Sum Assured on Death (SAD): | |
| + Estimated Loyalty Addition (LA): | If death after 5 years |
| + AD&D Rider Sum Assured: | Not Selected |
| + AB Rider Sum Assured: | Not Selected |
| Est. Total (Natural Death): | |
| Est. Total (Accidental Death): |
Death Benefit = SAD + LA (if applicable after 5 years) + Rider SA (if opted). Min. 105% of total base premiums paid. Loyalty Addition is not guaranteed. Tax conditions apply.
Year-wise Benefit Illustration (Incl. Est. LA)
▼| Year | Age | Paid Premium (₹) | Normal Life Cover (Approx. ₹) | Accidental Life Cover (Approx. ₹) |
|---|
Premiums est. for Base Plan. LA est. after 5 yrs. Rider benefits/premiums not included. Surrender/Loan values not shown. Normal Life Cover = SAD + LA (if any). Accidental Life Cover = Normal Life Cover + Rider SA (if any).
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