LIC Micro Bachat Plan 751: Low-Premium Savings for Rural India

LIC Micro Bachat Plan 751 was designed with one specific goal: bring insurance savings to India's rural and semi-urban population who could not afford traditional endowment premiums.

## What is Micro Bachat?

It is a participating endowment plan with a very low minimum sum assured — just Rs 50,000. This makes it accessible to daily-wage earners, small farmers, shop owners, and domestic workers in villages and small towns.

## Key Features

- **Minimum Sum Assured:** Rs 50,000 - **Maximum Sum Assured:** Rs 2 lakh - **Entry Age:** 18 to 55 years - **Policy Term:** 10, 15, or 20 years - **Premium Payment:** Regular pay (yearly or half-yearly — no monthly option) - **Bonus:** Simple Reversionary Bonus applies - **Loan:** Available after 3 years - **Tax Benefit:** 80C on premium, 10(10D) on maturity

## Micro Bachat Premium Example

A 30-year-old in a village near Gorakhpur takes Rs 2 lakh sum assured for 15 years: - Approximate annual premium: Rs 12,000-14,000 (roughly Rs 1,100-1,200/month equivalent) - Maturity benefit: approximately Rs 3.5-4 lakh (indicative, with bonus)

For someone earning Rs 15,000/month, this is a manageable commitment that builds a meaningful corpus over 15 years.

## Who Should Buy Micro Bachat?

**Ideal for:** - Rural workers, farmers, self-employed artisans - First-time insurance buyers who want a low-risk start - Parents wanting a small corpus for a child's school fees or marriage - Those who don't qualify for larger sum-assured plans due to health conditions

**Not ideal for:** - Urban professionals (too low an SA for income replacement) - Those who need a large maturity corpus

## Micro Bachat vs Jan Suraksha (Plan 880)

Jan Suraksha is a simpler, lower-cost term plan. Micro Bachat has a savings component — it returns the maturity amount, while Jan Suraksha does not pay anything if the policy matures without a death claim. Choose Micro Bachat if savings is the goal; choose Jan Suraksha if pure life cover is the priority.

To enrol your family members from a village near Gorakhpur into LIC's safety net, call Ajay Kumar Poddar at 9415313434.