Plan 951LIC's Micro Bachat
Small savings plan with no medicals
- No medical examination — simple health declaration
- Loyalty addition at maturity or on death
- Auto cover period if premiums stop
- Very small ticket size
LIC's New Jeevan Mangal
Term cover with return of premium
A micro insurance term plan that returns the premiums paid at maturity, with accident benefit built in.
Who it suits: Daily wage earners and small traders needing affordable protection.
- Micro Insurance
- Term cover with return of premium
- Maturity Benefit
LIC plan reference: 982
Eligibility at a glance
- Entry age
- 18 to 55 years
- Maturity age
- Up to 75 years (plan dependent)
- Sum assured
- ₹10,000 to ₹50,000
- Policy term
- 10 to 15 years
- Premium modes
- Yearly, half-yearly, quarterly, monthly (NACH) and salary savings scheme
Key benefits
- Return of total premiums paid at maturity
- Inbuilt accident benefit
- Single or regular premium options
- Flexible premium frequencies including weekly
Estimate your LIC's New Jeevan Mangal premium and maturity value
LIC Premium & Maturity Calculator
Estimates from publicly published LIC rate tables. Not a quotation.
- Yearly premium
- ₹1,548
- First instalment
- ₹1,548
- Renewal instalment
- ₹1,548
- Total outgo over the term
- ₹18,576
- Estimated maturity value
- ₹56,000
- Indicative surrender value (mid-term)
- ₹3,483
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 New Jeevan Mangal:
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 New Jeevan Mangal
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
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Plan 951This page describes LIC's New Jeevan Mangal 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.