LIC Micro Bachat 851 was the first version of LIC's Micro Bachat micro-insurance plan, launched on 18 February 2019 and replaced by Plan 951 on 1 February 2020. It offered ₹50,000 to ₹2 lakh cover for 10 to 15 years without a medical test. A 40-year-old with ₹1.5 lakh cover for 12 years pays about ₹10,032 a year; estimated maturity is ₹1,74,000.
Micro Bachat 851 Premium & Maturity Calculator
Your estimate
no GST is charged on this micro-insurance plan
- Premium per instalmentno GST is charged on this micro-insurance plan
- ₹5,086
- Premium paying term
- 15 years
- Total premium paid
- ₹76,290
- Loyalty addition (estimate)
- ₹500
- Sum assured on deathplus loyalty addition, if any, after 5 years
- ₹1,00,000
- Age at maturity
- 45 years
- Approx. return (IRR)
- 3.37%
- Total premium paid₹76,29076%
- Net gain₹24,21024%
Individual life insurance premiums are exempt from GST from 22 September 2025. Figures are estimates based on typical rates and may differ from LIC’s official quote.
What is LIC Micro Bachat Plan 851?
LIC Micro Bachat Plan 851 was the original Micro Bachat, LIC’s regular-premium micro-insurance savings plan. It was launched on 18 February 2019 and sold for less than a year. On 1 February 2020 it was replaced by Micro Bachat 951 under LIC’s new product series. The current version is Micro Bachat 751.
The plan works like a small endowment. You pay premiums for the whole term of 10 to 15 years, with cover of ₹50,000 to ₹2 lakh. At the end you receive the sum assured plus a loyalty addition. If the policyholder dies during the term, the nominee is paid the death benefit. No medical test was needed for standard healthy lives.
Micro Bachat 851 at a glance
| Feature | Details |
|---|---|
| Plan number | 851 |
| Sold | 18 Feb 2019 to 1 Feb 2020 (withdrawn) |
| Entry age | 18 to 55 years |
| Maximum maturity age | 70 years |
| Policy term = premium term | 10 to 15 years |
| Sum assured | ₹50,000 to ₹2,00,000 |
| Mode adjustment | Yearly −2%, half-yearly −1%, quarterly nil, monthly +3% |
| Maturity | Sum assured + loyalty addition |
Premium and worked example
The calculator uses the 851 rate table per ₹1,000 sum assured, interpolated for your exact age and term. It also applies the rebate of ₹1.50 per ₹1,000 from ₹1.5 lakh and ₹2 per ₹1,000 at ₹2 lakh.
Example: a policyholder who joined at 40 with ₹1.5 lakh cover for 12 years pays about ₹10,032 a year, or ₹1,20,384 in total. With a loyalty addition estimate of ₹20 per ₹1,000 a year from the fifth year (₹24,000), the maturity comes to about ₹1,74,000.
A 30-year-old with ₹1 lakh cover pays about ₹8,401 a year on a 10-year term, ₹6,720 on 12 years and ₹5,086 on 15 years.
Tip: if you joined in 2019 on a 10-year term, your maturity falls in 2029. Keep your nominee and bank details updated with LIC so the claim is paid without delay.
Maturity and death benefit
- Maturity: basic sum assured + loyalty addition declared by LIC.
- Death: the higher of the basic sum assured or 7 times the annual premium, never below 105% of premiums paid, plus a loyalty addition once five years are complete.
Loan, surrender and revival
According to the plan summary we used, a policy could be surrendered after one full year’s premium, and a loan is available after three full years (up to 70% of the surrender value). A lapsed policy can usually be revived within the revival period by paying arrears with interest. Before surrendering, compare the offer with the maturity value using our surrender value calculator.
Tax
Premiums qualify for Section 123 of the Income-tax Act, 2025 (earlier Section 80C) deduction (old regime). The maturity and death benefits are generally tax-free under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)).
851 vs 951 vs 751
The three versions share the same benefit design. Plans 851 and 951 even use the same rate table in our calculators, so the same inputs give the same premium. The real differences lie in the policy conditions set at each launch. Plan 751 has its own brochure-based rates, a little higher than 851/951 and the same for men and women. Use the Micro Bachat 951 page or the 751 page if you are comparing versions.
How to use this calculator
Enter your age at entry, term, sum assured and payment mode from the policy. Keep the loyalty addition at ₹20 per ₹1,000 a year, or set it to 0 to see only the guaranteed sum assured. The results are estimates; LIC’s records are final.
Frequently asked questions
When was LIC Micro Bachat 851 withdrawn?
Plan 851 was launched on 18 February 2019 and withdrawn on 1 February 2020, when LIC moved to the 9xx series. Micro Bachat 951 took its place. Existing 851 policies run to maturity on their original terms.
When will my Micro Bachat 851 policy mature?
Policies were bought between February 2019 and January 2020 with terms of 10 to 15 years, so they mature between 2029 and 2035. The maturity year is your policy start year plus the term.
Will my Micro Bachat 851 policy get a loyalty addition?
Loyalty additions apply once a policy has completed five years with premiums paid, which every in-force 851 policy has now done. The final amount depends on LIC's declaration at maturity or death and is not guaranteed.
What premium does Micro Bachat 851 charge for ₹1 lakh?
At age 30 our calculator shows about ₹8,401 a year for a 10-year term, ₹6,720 for 12 years and ₹5,086 for 15 years. Your policy schedule shows the exact premium.
Can I take a loan on Micro Bachat 851?
The plan summary we used says a loan is available after three full years' premiums, up to 70% of the surrender value. Since all 851 policies are older than that now, a loan should be possible on any policy kept in force.
Is GST charged on Micro Bachat 851 premiums?
No. Micro-insurance premiums are not charged GST, and since 22 September 2025 all individual life premiums are GST-exempt. An 18% GST figure shown by some older calculators is not correct for this plan.
Disclaimer: LIC Premium Calculators is an independent website. We are not affiliated with, endorsed by or connected to Life Insurance Corporation of India. All figures are estimates for illustration; confirm exact premiums and benefits with LIC or a licensed agent before buying.