LIC Micro Insurance Plans Plan Calculators

Explore LIC Micro Insurance Plans and calculate premium, maturity amount, surrender value, survival benefit, pension, or policy benefits based on the selected plan.

LIC Micro Bachat

A micro insurance savings plan designed to provide life cover with policy benefits suited to small and regular premium payments.

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LIC Jan Suraksha Plan 880

A micro insurance protection plan that offers life insurance benefits under simple terms for eligible policyholders.

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LIC Micro Insurance Plans Calculator – Premium, Maturity, Death Benefit, Surrender Value and Loan Calculator

LIC Micro Insurance Plans are designed for people who want small-ticket life insurance with savings benefits. These plans are suitable for basic life cover, maturity planning, family protection and policy value calculation. The official LIC Micro Insurance Plans page currently lists two plans: LIC’s Micro Bachat Plan 751 and LIC’s Jan Suraksha Plan 880. LIC shows Micro Bachat with UIN 512N329V03 and Jan Suraksha with UIN 512N388V01.

This LIC Micro Insurance Plans Calculator helps estimate important policy values such as maturity benefit, death benefit, paid-up value, surrender value, maximum loan amount and rider benefit. The calculator is made for educational use, so the final premium and policy value should always be checked with LIC’s official policy records.

What Are LIC Micro Insurance Plans?

LIC Micro Insurance Plans are life insurance products with lower sum assured limits. These plans combine protection and savings in a simple format. They are not pension plans, ULIPs or market-linked products. They are mainly useful for people who want a small life cover with a maturity benefit.

LIC’s official page describes Micro Insurance Plans as a combination of insurance and investment. The current active plans listed under this category are LIC’s Micro Bachat and LIC’s Jan Suraksha.

LIC Micro Insurance Plans List

Plan Name	Plan No.	UIN	Plan Type
LIC’s Micro Bachat	751	512N329V03	Par, Non-Linked, Individual, Savings, Life Micro Insurance Plan
LIC’s Jan Suraksha	880	512N388V01	Non-Par, Non-Linked, Individual, Savings, Life Micro Insurance Plan

LIC’s Micro Bachat is a participating plan, which means Loyalty Addition may be payable depending on LIC’s experience and declaration. LIC’s Jan Suraksha is a non-participating plan, which means benefits are fixed and based on Guaranteed Additions instead of bonus or Loyalty Addition.

LIC’s Micro Bachat Plan 751 – Main Details

LIC’s Micro Bachat is a regular premium savings and protection plan. It gives financial support to the family in case of death during the policy term and pays a lump sum amount on maturity if the life assured survives till the end of the policy term. This plan also provides a loan facility.

Feature	Details
Plan Name	LIC’s Micro Bachat
Plan No.	751
UIN	512N329V03
Plan Type	Par, Non-Linked, Individual, Savings, Life Micro Insurance Plan
Minimum Age	18 years completed
Maximum Age	55 years nearest birthday
Policy Term	10 to 15 years
Premium Paying Term	Same as policy term
Minimum Sum Assured	₹1,00,000
Maximum Sum Assured	₹2,00,000
Maximum Maturity Age	70 years nearest birthday
Loan Facility	Available
Rider Option	Available

The Basic Sum Assured under Micro Bachat is available from ₹1,00,000 to ₹1,80,000 in multiples of ₹10,000. Above ₹1,80,000, the applicable multiple is ₹20,000. The total Basic Sum Assured under all versions of this plan for one individual cannot exceed ₹2 lakh.

LIC’s Jan Suraksha Plan 880 – Main Details

LIC’s Jan Suraksha is a non-par, non-linked, individual savings life micro insurance plan. It provides life cover during the policy term and a lump sum amount on maturity. It is an endowment plan with Guaranteed Additions, and the premium is paid for a limited period.

Feature	Details
Plan Name	LIC’s Jan Suraksha
Plan No.	880
UIN	512N388V01
Plan Type	Non-Par, Non-Linked, Individual, Savings, Life Micro Insurance Plan
Minimum Age	18 years completed
Maximum Age	55 years nearest birthday
POSP/CPSC Maximum Age	53 years nearest birthday
Policy Term	12 to 20 years
Premium Paying Term	Policy Term minus 5 years
Minimum Sum Assured	₹1,00,000
Maximum Sum Assured	₹2,00,000
Maximum Maturity Age	70 years nearest birthday
POSP/CPSC Maximum Maturity Age	65 years nearest birthday
Loan Facility	Available
Guaranteed Additions	Available

The Basic Sum Assured under Jan Suraksha is available in multiples of ₹5,000. Premium Paying Term is always Policy Term minus 5 years, so a 15-year policy has a 10-year premium paying term.

Why Use LIC Micro Insurance Plans Calculator?

A calculator makes the plan easier to understand because these plans include different benefit rules. Manually calculating death benefit, maturity value, surrender value and loan value can become confusing.

This calculator is useful for:

• Checking plan eligibility
• Estimating maturity benefit
• Calculating death benefit
• Finding paid-up value
• Estimating surrender value
• Checking maximum loan amount
• Understanding rider benefit
• Comparing Micro Bachat and Jan Suraksha

The calculator should not be treated as LIC’s official premium quotation. Exact premium depends on LIC’s official rate table, policy mode, age, underwriting rules, rider selection and applicable tax.

Benefits Covered in the Calculator

1. Maturity Benefit

For LIC’s Micro Bachat, maturity benefit is:

Basic Sum Assured + Loyalty Addition, if any

Loyalty Addition is not guaranteed. It depends on LIC’s declaration and is payable only as per policy conditions.

For LIC’s Jan Suraksha, maturity benefit is:

Basic Sum Assured + Accrued Guaranteed Additions

Guaranteed Additions accrue at the end of each policy year throughout the policy term. The basic rate is 4% of total annualized premiums in respect of premiums paid, with additional incentives where applicable.

2. Death Benefit

For both plans, Sum Assured on Death is higher of:

7 × Annualized Premium
or
Basic Sum Assured

The death benefit cannot be less than 105% of total premiums paid. Premiums used for this calculation exclude tax, rider premium, extra premium and modal loading.

In Micro Bachat, Loyalty Addition may be added after completion of five policy years if conditions are satisfied. In Jan Suraksha, accrued Guaranteed Additions are added to the death benefit.

3. Paid-up Value

If at least one full year’s premium is paid and later premiums are not paid, the policy can continue as a paid-up policy. The paid-up value is reduced in proportion to the premiums paid.

General formula:

Paid-up Value = Original Benefit × Premiums Paid Years ÷ Premium Paying Term

For Micro Bachat, the paid-up maturity benefit may include Loyalty Addition only when conditions are satisfied. For Jan Suraksha, accrued Guaranteed Additions are also considered in paid-up benefit.

4. Surrender Value

For Micro Bachat, the policy can be surrendered after completion of the first policy year if at least one full year’s premium has been paid. Guaranteed Surrender Value is acquired after payment of at least two full years’ premiums. LIC pays the higher of Guaranteed Surrender Value and Special Surrender Value.

For Jan Suraksha, surrender value is also available after completion of the first policy year with at least one full year’s premium paid. Guaranteed Surrender Value is based on total premiums paid and GSV factors. The surrender value of accrued Guaranteed Additions is calculated separately using applicable GSV factors.

5. Loan Value

Both plans provide a policy loan facility after completion of the first policy year, provided at least one full year’s premium has been paid.

Plan	In-force Policy Loan	Paid-up Policy Loan
LIC’s Micro Bachat	Up to 70% of surrender value	Up to 60% of surrender value
LIC’s Jan Suraksha	Up to 80% of surrender value	Up to 70% of surrender value

LIC’s Micro Bachat brochure states loan limits of 70% for in-force policies and 60% for paid-up policies. LIC’s Jan Suraksha brochure states loan limits of 80% for in-force policies and 70% for paid-up policies.

Optional Rider Benefits

Both Micro Bachat and Jan Suraksha provide optional rider benefits, but Jan Suraksha does not allow riders for policies procured through POSP-LI/CPSC-SPV. The available rider options include LIC’s Accidental Death & Disability Benefit Rider and LIC’s Accident Benefit Rider.

Rider	Main Benefit
Accidental Death & Disability Benefit Rider	Accidental death benefit and disability benefit
Accident Benefit Rider	Accidental death benefit

For the Accident Benefit Rider, rider sum assured cannot exceed three times the Basic Sum Assured. For the Accidental Death & Disability Benefit Rider, rider sum assured cannot exceed the Basic Sum Assured. Rider premium should not exceed 30% of the base plan premium.

How to Use LIC Micro Insurance Plans Calculator

Follow these steps:

1. Select the plan: LIC’s Micro Bachat or LIC’s Jan Suraksha.
2. Choose the calculator type: maturity, death benefit, paid-up, surrender, loan or rider.
3. Enter age at entry.
4. Select Basic Sum Assured.
5. Select policy term.
6. Choose premium mode: yearly, half-yearly, quarterly or monthly.
7. Enter annualized premium.
8. Enter premiums paid years.
9. Enter current policy year.
10. For Micro Bachat, enter Loyalty Addition if available.
11. Enter Special Surrender Value if known.
12. Select policy status for loan calculation.
13. Add rider details if rider benefit calculation is required.
14. Press the Calculate button.

The calculator then displays eligibility, premium paying term, maturity age, mode premium, total premium paid, maturity benefit, death benefit, paid-up value, surrender value, maximum loan and rider benefit.

Real Calculation Example 1 – LIC’s Micro Bachat

Assume these details:

Field	Value
Plan	LIC’s Micro Bachat
Age	25 years
Basic Sum Assured	₹1,00,000
Policy Term	15 years
Premium Paying Term	15 years
Annualized Premium	₹5,385
Premiums Paid	10 years
Policy Year	10
Loyalty Addition	₹10,000
Special Surrender Value	₹0

The official Micro Bachat brochure gives a sample annual premium of ₹5,385 for age 25, policy term 15 years and Basic Sum Assured ₹1,00,000.

Maturity Benefit

Maturity Benefit = Basic Sum Assured + Loyalty Addition
Maturity Benefit = ₹1,00,000 + ₹10,000
Maturity Benefit = ₹1,10,000

Death Benefit

7 × Annualized Premium = 7 × ₹5,385 = ₹37,695
Basic Sum Assured = ₹1,00,000
Sum Assured on Death = Higher of ₹37,695 and ₹1,00,000
Sum Assured on Death = ₹1,00,000

Since policy has completed more than five years and Loyalty Addition is entered:

Death Benefit = ₹1,00,000 + ₹10,000
Death Benefit = ₹1,10,000

Minimum death benefit check:

Total Premium Paid = ₹5,385 × 10 = ₹53,850
105% of Premiums Paid = ₹56,543

Final death benefit is higher of ₹1,10,000 and ₹56,543.

Final Death Benefit = ₹1,10,000

Surrender Value

For Micro Bachat, term 15 and policy year 10 has a GSV factor of 62.86%.

GSV = Total Premium Paid × GSV Factor
GSV = ₹53,850 × 62.86%
GSV ≈ ₹33,850

If Special Surrender Value is not entered:

Estimated Surrender Value = ₹33,850

Real Calculation Example 2 – LIC’s Jan Suraksha

Assume these details:

Field	Value
Plan	LIC’s Jan Suraksha
Age	35 years
Basic Sum Assured	₹2,00,000
Policy Term	15 years
Premium Paying Term	10 years
Annualized Premium	₹18,160
Purchase Channel	Agent / Intermediary
Guaranteed Addition Rate	4.25%
Premium Mode	Yearly

The official Jan Suraksha brochure gives an illustration for age 35, policy term 15 years, premium paying term 10 years, Basic Sum Assured ₹2,00,000 and yearly premium ₹18,160. The same illustration shows maturity benefit of ₹2,81,039.

Guaranteed Addition Rate

Basic Guaranteed Addition rate is 4.00%. Since Basic Sum Assured is ₹2,00,000, an additional high sum assured incentive of 0.25% applies.

Guaranteed Addition Rate = 4.00% + 0.25%
Guaranteed Addition Rate = 4.25%

Maturity Benefit

For a 15-year term and 10-year premium paying term, Guaranteed Addition is calculated on total annualized premiums in respect of premiums paid.

Yearly Premium = ₹18,160
GA Rate = 4.25%
GA for full term ≈ ₹81,039

Maturity Benefit = Basic Sum Assured + Guaranteed Additions
Maturity Benefit = ₹2,00,000 + ₹81,039
Maturity Benefit = ₹2,81,039

Death Benefit at Policy Year 10

7 × Annualized Premium = 7 × ₹18,160 = ₹1,27,120
Basic Sum Assured = ₹2,00,000
Sum Assured on Death = ₹2,00,000

Guaranteed Additions up to policy year 10 are approximately ₹42,449.

Death Benefit = ₹2,00,000 + ₹42,449
Death Benefit = ₹2,42,449

This matches the official Jan Suraksha benefit illustration for policy year 10.

Important Things to Remember Before Using the Calculator

This calculator gives an estimated result based on plan rules. It does not replace LIC’s official premium quotation or policy servicing statement.

Key points:

• Annualized premium must be entered correctly.
• Tax, rider premium and extra premium are excluded from benefit formulas.
• Micro Bachat Loyalty Addition is not guaranteed.
• Jan Suraksha Guaranteed Additions are fixed as per plan rules.
• Surrender value depends on GSV and SSV.
• Special Surrender Value is reviewed as per applicable rules.
• Loan interest rate may change from time to time.
• Rider benefit is available only when rider rules are satisfied.

LIC Micro Bachat vs LIC Jan Suraksha Calculator Difference

Point	Micro Bachat	Jan Suraksha
Plan Type	Participating	Non-participating
Addition Type	Loyalty Addition	Guaranteed Addition
Premium Payment	Regular premium	Limited premium
Policy Term	10 to 15 years	12 to 20 years
Premium Paying Term	Same as policy term	Policy term minus 5 years
Loan Limit In-force	70% of surrender value	80% of surrender value
Loan Limit Paid-up	60% of surrender value	70% of surrender value
Rider under POSP/CPSC	Available as per rules	Not available

Conclusion

LIC Micro Insurance Plans Calculator is useful for understanding how Micro Bachat and Jan Suraksha benefits may work. It helps calculate maturity value, death benefit, paid-up value, surrender value, loan amount and rider benefit in one place.

LIC’s Micro Bachat is better understood as a regular premium participating micro insurance plan with possible Loyalty Addition. LIC’s Jan Suraksha is a limited premium non-participating plan with Guaranteed Additions. Both plans have a maximum Basic Sum Assured of ₹2,00,000 and are designed for simple protection plus savings needs. Final values should always be verified with LIC before purchase, surrender, loan request or claim planning.