Plan 982LIC's New Jeevan Mangal
Term cover with return of premium
- Return of total premiums paid at maturity
- Inbuilt accident benefit
- Single or regular premium options
- Flexible premium frequencies including weekly
LIC's Micro Bachat
Small savings plan with no medicals
A micro insurance endowment with small sum assured bands, simple health declaration and no medical examination.
Who it suits: Households with modest incomes wanting a first savings policy.
- Micro Insurance
- Small savings plan with no medicals
- Maturity Benefit
LIC plan reference: 951
Eligibility at a glance
- Entry age
- 18 to 55 years
- Maturity age
- Up to 75 years (plan dependent)
- Sum assured
- ₹50,000 to ₹2,00,000
- Policy term
- 10 to 15 years
- Premium modes
- Yearly, half-yearly, quarterly, monthly (NACH) and salary savings scheme
Key benefits
- No medical examination — simple health declaration
- Loyalty addition at maturity or on death
- Auto cover period if premiums stop
- Very small ticket size
Estimate your LIC's Micro Bachat premium and maturity value
LIC Premium & Maturity Calculator
Estimates from publicly published LIC rate tables. Not a quotation.
- Yearly premium
- ₹8,160
- First instalment
- ₹8,160
- Renewal instalment
- ₹8,160
- Total outgo over the term
- ₹1,22,400
- Estimated maturity value
- ₹1,64,500
- Indicative surrender value (mid-term)
- ₹26,112
Figures exclude underwriting loading and high sum assured rebates. Bonus-linked maturity values are projections, not guarantees.
Want an exact LIC illustration?
Your estimate is ready. For an official quotation and a suitability discussion on LIC's Micro Bachat:
This plan may not be ideal if…
- You need the maximum possible life cover for the lowest premium — a term assurance plan does that better.
- You may need the money back within the first few years; early surrender values are low.
- You expect market-linked returns; participating LIC returns are steadier but more modest.
- Your income is irregular and you cannot commit to the full premium paying term.
Frequently asked questions
Get advice on LIC's Micro Bachat
Send your age and budget and you will get an official LIC quotation plus an honest view on whether this plan is the right fit.
5th Floor, Jeevan Prakash Building, Sir P.M. Road, Fort, Mumbai - 400001, Maharashtra · Mon–Fri, 10:00 AM – 6:00 PM · IRDAI Agent Licence No. LIC03699923
You may also like
Plan 982This page describes LIC's Micro Bachat in our own words, based on LIC's published product literature. For the binding terms, always refer to the official policy document issued by Life Insurance Corporation of India.