When it comes to protecting your family’s future while building savings at an affordable cost, the LIC Micro Bachat Plan 751 is considered a reliable option. Specially designed for individuals from economically weaker sections, this plan combines life insurance protection with savings benefits in a simple and budget-friendly package.

What is LIC Micro Bachat Plan 751?

LIC Micro Bachat Plan 751 is a non-linked, participating, regular premium micro-insurance savings plan offered by Life Insurance Corporation of India. The main objective of this plan is to provide affordable financial protection and savings benefits to individuals from economically weaker sections.

The plan offers:

• Financial protection for the family in case of the policyholder’s unfortunate death during the policy term.
• Savings benefits through a lump-sum maturity payout along with eligible bonus additions.

Key Features of LIC Micro Bachat Plan 751

Understanding the important features of LIC Micro Bachat Plan 751 helps explain why it is a suitable option for affordable insurance and savings.

• Entry Age: Minimum 18 years and maximum 55 years
• Policy Term: Available for 10 to 15 years
• Sum Assured: Starts from ₹50,000 up to ₹2,00,000 in multiples of ₹1,000
• Premium Payment: Regular premium payments throughout the policy duration
• Premium Payment Modes: Flexible payment options including yearly, half-yearly, quarterly, and monthly
• Death Benefit: Nominee receives the sum assured along with accrued bonuses if the policyholder passes away during the policy term
• Maturity Benefit: Lump-sum payout provided if the policyholder survives till maturity
• Loyalty Additions: Additional bonuses may be declared after completion of 5 policy years based on LIC performance
• Loan Facility: Loan can be availed after payment of at least one full year’s premium
• Profit Participation: As a participating plan, policyholders are eligible for LIC bonus additions
• Tax Benefits: Premiums qualify for deductions under Section 80C, while maturity and death benefits may be tax-exempt under Section 10(10D) as per applicable tax laws in India

Who Should Consider LIC Micro Bachat Plan 751?

LIC Micro Bachat Plan 751 is specially designed for individuals looking for affordable insurance protection along with savings benefits.

This plan is suitable for:

• People from low-income groups who want budget-friendly financial security.
• First-time insurance buyers seeking a simple plan that combines life cover and savings.
• Individuals looking for low-cost insurance with flexible premium payment options.
• Those who want to gradually build a savings fund over 10 to 15 years while enjoying life insurance protection.

How Does LIC Micro Bachat Plan 751 Work?

Under this plan, the policyholder pays regular premiums throughout the selected policy term. If the insured person survives till the end of the policy period, they receive the sum assured along with applicable loyalty additions declared by Life Insurance Corporation of India.

In case the policyholder passes away during the policy term, the nominee receives the sum assured along with any accrued bonus benefits.

The plan also offers a loan facility against the policy, helping policyholders manage financial emergencies without surrendering the policy.

Understanding the LIC Micro Bachat Plan 751 Calculator

What is the LIC Micro Bachat Plan Calculator?

The LIC Micro Bachat Plan 751 Calculator is an online tool designed to help both new and existing policyholders estimate important policy details easily.

Using this calculator, you can estimate:

• The premium amount based on your selected sum assured, policy term, and payment mode
• Expected maturity benefits, including loyalty additions and bonus estimates
• Death benefits payable to nominees
• Possible surrender value, if applicable
• The effect of different premium payment frequencies on the overall premium amount

Why Use the LIC Micro Bachat Plan Calculator?

Using the LIC Micro Bachat Plan 751 Calculator makes financial planning easier by providing clear estimates and policy insights based on your inputs.

The calculator helps by offering:

• Accurate premium estimates according to your selected policy details
• A better understanding of expected maturity and bonus benefits
• Easy comparison of different policy terms and premium payment options
• A simple way to understand complex insurance calculations and returns

How to Use the LIC Micro Bachat Plan 751 Calculator Effectively

Using the LIC Micro Bachat Plan 751 Calculator is simple and convenient. Follow these easy steps to estimate your policy premiums and benefits.

• Enter your age based on your nearest birthday. The eligible entry age is between 18 and 55 years.
• Select your preferred policy term between 10 and 15 years.
• Choose the desired sum assured ranging from ₹50,000 to ₹2,00,000.
• Select the premium payment mode such as yearly, half-yearly, quarterly, or monthly.
• The calculator will instantly display the estimated premium amount.
• You can also view the expected maturity benefit, including bonus or loyalty addition estimates.
• Save, print, or share the results for future reference or discussion with your LIC advisor.

Using the calculator helps you clearly understand the premiums, policy commitment, and expected returns before purchasing the plan.

Benefits of LIC Micro Bachat Plan 751

LIC Micro Bachat Plan 751 offers several useful benefits that make it suitable for affordable insurance and long-term savings.

• Affordable Premiums: Low premium amounts make the plan accessible for individuals from low-income groups.
• Life Cover with Savings: Provides both insurance protection and savings benefits under one policy.
• Loyalty Additions: Additional benefits may be added after completion of 5 policy years.
• Loan Facility: Policyholders can avail loans against the policy during the policy term if needed.
• Tax Benefits: Premiums paid and eligible policy benefits may qualify for tax exemptions under applicable tax laws.
• Flexible Premium Modes: Choose from yearly, half-yearly, quarterly, or monthly payment options.
• Financial Security: Offers peace of mind by providing financial support to the family in case of the policyholder’s absence.

Premium Payment Modes and Rebates in LIC Micro Bachat Plan 751

The plan offers multiple premium payment options, allowing policyholders to choose a mode that matches their financial comfort and payment convenience.

Payment Mode	Description	Rebate / Extra Charge
Annual	Premium paid once every year	2% rebate on tabular premium
Half-Yearly	Premium paid twice a year	1% rebate on tabular premium
Quarterly	Premium paid four times a year	No rebate
Monthly	Premium paid every month through NACH or auto-debit	3% extra charge on tabular premium

Selecting the right premium payment mode can help manage your cash flow efficiently while making the policy more affordable and convenient.

Extra Benefits and Optional Riders

• Accidental Benefit Rider: This rider can be included to increase overall insurance protection.
• Accidental Death and Disability Benefit Rider: An optional add-on that provides additional coverage in case of accidental death or disability.

The policy also acquires paid-up value benefits if premium payments are stopped after paying premiums for at least 3 years.

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Easy Understanding of Tax Benefits

• Premium Payments: Qualify for tax deductions under Section 80C up to ₹1,50,000 annually.
• Maturity and Death Benefits: Completely tax-exempt under Section 10(10D) of the Income Tax Act.

This helps policyholders enjoy tax-free growth and improved financial returns.

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Reasons to Choose LIC Micro Bachat Plan 751

• Backed by LIC and the Government of India, making it a secure and trustworthy option.
• Suitable for individuals seeking affordable life insurance combined with savings benefits.
• Best for people who prefer a simple insurance product instead of market-linked investment plans.
• The online premium calculator helps users easily estimate premiums and policy benefits before purchase.

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How to Purchase LIC Micro Bachat Plan 751

This policy can be purchased through both offline and online methods.

Offline Purchase Options:

• LIC agents
• POSP (Point of Sales Persons-Life Insurance)
• Common Service Centers

Online Purchase Option:

• Directly from LIC’s official website for a quick and convenient process.

Before buying the policy, it is advisable to use the LIC Micro Bachat Plan 751 calculator to estimate premiums and expected benefits for better financial planning.

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Frequently Asked Questions

What is LIC Micro Bachat Plan 751?

LIC Micro Bachat Plan 751 is a low-premium, participating, non-linked life insurance plan designed to provide savings and financial security, especially for economically weaker individuals and families.

Who can buy this plan?

Individuals between 18 and 55 years of age are eligible to purchase this policy. The available policy term ranges from 10 years to 15 years.

What is the Minimum and Maximum Sum Assured Available?

Under this plan, the minimum sum assured is ₹50,000, while the maximum sum assured is ₹2,00,000. The sum assured can be selected in multiples of ₹1,000.

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How Can Premiums Be Paid for LIC Micro Bachat Plan?

Policyholders can pay premiums through multiple payment options such as yearly, half-yearly, quarterly, or monthly modes. Payments can also be made conveniently through online methods, ECS, or NACH facilities.

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What Are the Maturity Benefits?

After the policy term is completed, the policyholder receives the basic sum assured along with applicable loyalty additions and bonuses declared by LIC.

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Are Tax Benefits Available?

Yes, the premiums paid under this policy qualify for tax deductions under Section 80C of the Income Tax Act. Additionally, the maturity amount and death benefits are tax-free under Section 10(10D), subject to prevailing tax rules.

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Conclusion

The LIC Micro Bachat Plan 751 Calculator is a helpful tool for understanding the policy’s premiums and expected returns before purchasing the plan. It allows users to plan their finances better, compare benefits easily, and make informed decisions without confusion. This plan offers an affordable combination of insurance protection and savings, making it a reliable option for securing your family’s future.

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