LIC Micro Bachat Plan 751 Calculator: Low-Premium Savings Plan with Life Cover

What is LIC Micro Bachat Plan 751?

LIC Micro Bachat Plan 751 is a small-ticket savings plan with life cover, built for people who earn modest or irregular incomes. It is a non-linked, participating, regular premium micro-insurance plan. Cover ranges from ₹1,00,000 to ₹2,00,000, and you pay the premium throughout a term of 10 to 15 years. At the end you get the sum assured back with any loyalty addition LIC declares. If the policyholder dies during the term, the family receives the death benefit.

Plan 751 is the current version in LIC’s 7xx series. It follows Micro Bachat 951, which was sold from 2020 to 2024, and the first version, Plan 851. The idea is unchanged: an easy, medical-free policy that doubles as a disciplined savings habit.

Micro Bachat 751 at a glance

Feature	Details
Plan number	751
Plan type	Non-linked, participating micro-insurance endowment
Entry age	18 to 55 years
Maximum maturity age	70 years
Policy term	10 to 15 years
Premium paying term	Same as the policy term
Sum assured	₹1,00,000 to ₹1,80,000 (multiples of ₹10,000), or ₹2,00,000
Medical exam	Not required (standard healthy lives)
Premium modes	Yearly, half-yearly, quarterly, monthly (NACH only), salary deduction
Maturity	Sum assured + loyalty addition (if declared)
Riders	Accidental Death & Disability Benefit Rider or Accident Benefit Rider
Status	Active

Eligibility

Condition	Limit
Minimum entry age	18 years
Maximum entry age	55 years
Age at maturity	Not above 70
Terms available	10, 11, 12, 13, 14 or 15 years
Sum assured per life	Up to ₹2 lakh across all Micro Bachat policies

So a 55-year-old can choose a term of up to 15 years, since 55 + 15 = 70.

How the premium is calculated

The calculator follows the sample premiums printed in LIC’s Micro Bachat 751 sales brochure. The brochure lists yearly premiums for ₹1 lakh cover at ages 18, 25, 35, 45 and 55 for 10, 12 and 15-year terms; for example, a 25-year-old on a 15-year term pays ₹5,385 a year. All 15 of those figures are reproduced exactly. Other ages, and the 11, 13 and 14-year terms, are estimated from them.

1. Rate per ₹1,000 × sum assured ÷ 1,000 gives the tabular premium. The brochure has no separate rates for women, so men and women pay the same.
2. Mode rebate: 2% of the tabular premium off for yearly payment, 1% off for half-yearly, and nothing for quarterly. Monthly payment (NACH only) has no rebate and no extra loading.
3. High sum assured rebate: ₹3 per ₹1,000 at ₹2 lakh cover; nothing below that.
4. No GST: micro-insurance premiums are GST-free, as are all individual life premiums from 22 September 2025.

Worked example: a 25-year-old chooses ₹1 lakh cover for 15 years and pays yearly.

• Premium: ₹5,385 a year (roughly ₹15 a day), or ₹458 a month by NACH
• Total paid over 15 years: ₹80,775
• Loyalty addition (assumed ₹5 per ₹1,000 in total, as in LIC’s illustration at 8%): ₹500
• Maturity at 40: about ₹1,00,500, a return of roughly 2.7% a year

Second example: a 35-year-old takes ₹2 lakh cover for 12 years and pays monthly. The instalment is about ₹1,151 a month, or ₹1,65,744 in total (₹13,522 a year if paid yearly, after the ₹2 lakh rebate). The estimated maturity is ₹2,01,000.

Yearly premium for ₹1 lakh cover, as printed in LIC’s brochure (same for men and women):

Age	10 years	12 years	15 years
18	₹8,722	₹7,012	₹5,380
25	₹8,727	₹7,017	₹5,385
35	₹8,761	₹7,061	₹5,439
45	₹8,923	₹7,247	₹5,664
55	₹9,388	₹7,752	₹6,233

Tip: returns shrink as entry age rises, because more of each premium goes towards life cover. On ₹1 lakh for 15 years, the return is roughly 2.7% a year at age 25 but only about 0.9% at 55. If you are over 45, compare the maturity value with total premiums in the calculator before you sign, and consider a longer term if your age allows it.

Maturity benefit

On surviving the term, you receive the basic sum assured plus the loyalty addition, if LIC declares one. Loyalty additions are LIC’s way of sharing profits in this plan. They apply only after five policy years with at least five full years’ premiums paid, and they are not guaranteed. LIC’s own benefit illustration (age 25, 15 years, ₹1 lakh) shows a total loyalty addition of just ₹500 at an assumed 8% return and nil at 4%. The calculator therefore asks for the total loyalty addition per ₹1,000 of cover and defaults to ₹5; set 0 to see the guaranteed part alone. In practice, treat the maturity as roughly your sum assured: this plan is about cover and a savings habit, not high returns.

Death benefit

If the policyholder dies during the term, the nominee receives the sum assured on death. This is the higher of the basic sum assured or 7 times the annualised premium, and never less than 105% of the premiums paid. A loyalty addition is added if the policy has run at least five years. In the example above, the family would receive ₹1,00,000 plus any loyalty addition.

Loan, surrender and auto cover

• Loan: available once the policy has a surrender value. LIC’s 751 brochure says this starts after one full year’s premium.
• Surrender: you can exit early, but you will get back less than you paid. Estimate the figure with our surrender value calculator.
• Auto cover: after three full years of premiums, the policy stays in force for a limited period even if a premium is missed. This matters for families whose income comes in uneven bursts.
• Riders: for an extra premium you can add either LIC’s Accidental Death & Disability Benefit Rider or LIC’s Accident Benefit Rider, as long as at least five years of the policy term remain.

Tax benefits

Premiums qualify under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) in the old regime, and the maturity and death benefits are generally exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)). For most Micro Bachat buyers, the bigger benefit is simply having an affordable, tax-free payout at maturity.

Who should consider Micro Bachat 751?

• Workers and small traders who want life cover plus forced savings for a small monthly amount.
• Women who want a small policy in their own name. The premium is the same as for men.
• People who cannot easily get a medical test done, or who need only modest cover.

It is not ideal if you need large life cover (a term plan gives far more cover per rupee) or if you are close to 55 and chasing returns. For a different micro-insurance structure that starts at ₹50,000 cover, look at New Jeevan Mangal 840.

Micro Bachat 751 vs 951

The benefit structure is the same: sum assured plus loyalty addition, terms of 10 to 15 years, and cover up to ₹2 lakh. The main changes are a higher minimum cover (₹1 lakh on 751, against ₹50,000 on 951) and slightly higher premiums. For a 25-year-old with ₹1 lakh over 15 years, the calculators give ₹5,385 on 751 versus ₹5,057 on 951. Existing 951 policyholders can check their numbers on the Micro Bachat 951 calculator.

How to use this calculator

1. Enter your age.
2. Select the policy term.
3. Enter the sum assured.
4. Choose the payment mode.
5. Set the total loyalty addition and read your premium, maturity, total paid and death benefit. All values are estimates; LIC’s quotation is final.