Calculators LIC plans Micro-insurance
No-medical micro-insurance endowment for rural and EWS buyers — guaranteed savings up to ₹2 lakh.
LIC's no-medical micro-insurance endowment for rural and EWS buyers — guaranteed savings up to ₹2 lakh with limited-pay premiums.
Maximum BSA of ₹2,00,000. Agent channel. GA rate 4.25% (base 4% + high-SA incentive 0.25%). Annual premium and maturity figures are computed from LIC's published brochure rates — exact premiums at your age require a quote from LIC or a licensed advisor.
| Age at entry | Term (PPT) | Annual premium | Total paid (over PPT) | Guaranteed additions | Maturity benefit |
|---|---|---|---|---|---|
| 25 yrs | 20 (15) | ₹11,600 | ₹1,74,000 | ₹96,135 | ₹2,96,135 |
| 25 yrs | 15 (10) | ₹18,030 | ₹1,80,300 | ₹80,459 | ₹2,80,459 |
| 25 yrs | 12 (7) | ₹26,540 | ₹1,85,780 | ₹71,061 | ₹2,71,061 |
| 35 yrs | 20 (15) | ₹11,800 | ₹1,77,000 | ₹97,793 | ₹2,97,793 |
| 35 yrs | 15 (10) | ₹18,160 | ₹1,81,600 | ₹81,039 | ₹2,81,039 |
| 35 yrs | 12 (7) | ₹26,650 | ₹1,86,550 | ₹71,355 | ₹2,71,355 |
| 45 yrs | 20 (15) | ₹12,500 | ₹1,87,500 | ₹1,03,594 | ₹3,03,594 |
| 45 yrs | 15 (10) | ₹18,680 | ₹1,86,800 | ₹83,360 | ₹2,83,360 |
| 45 yrs | 12 (7) | ₹27,060 | ₹1,89,420 | ₹72,453 | ₹2,72,453 |
| 55 yrs | 15 (10) | ₹20,070 | ₹2,00,700 | ₹89,562 | ₹2,89,562 |
| 55 yrs | 12 (7) | ₹28,300 | ₹1,98,100 | ₹75,773 | ₹2,75,773 |
Death benefit = BSA + accrued guaranteed additions at time of death (always ≥ 105% of premiums paid). Death benefit also applies during the paid-up and auto-cover periods, subject to deductions. Online purchase adds a further +1% GA incentive not shown above.
The GA each year equals 4%+ of cumulative premiums paid so far — not just last year's premium. In year 1, GA = 4.25% × annual-premium. By year 10, the same rate applies to 10 × annual-premium. After PPT ends, the annual GA stabilises at the year-PPT level and continues unchanged until maturity. This means term-20 policies accumulate far more total GAs than term-12 policies even when total premiums paid are similar.
Once you've paid 3 full years' premiums, an auto cover window kicks in if you stop paying. Pay 3–5 years and you get 6 months of auto cover; pay 5+ years and you get 2 full years. During this window, full death benefit (BSA + accrued GAs) is payable after deducting outstanding premiums with interest — a meaningful safety net for irregular-income buyers.
Jan Suraksha is for people who (a) cannot easily pass medical underwriting, (b) want a guaranteed outcome with zero market risk, or (c) can commit to ₹1,000–₹2,500/month for a modest life cover plus maturity payout. Agricultural workers already covered under PMJJBY get accidental-death cover there — Jan Suraksha adds natural-death cover and a lump-sum maturity payout, making it a genuine complement.
Premiums paid qualify for deduction under §80C (within the aggregate ₹1.5L ceiling). Maturity proceeds are exempt under §10(10D) only if the annual premium does not exceed 10% of the basic sum assured — for a ₹2L policy this threshold is ₹20,000/year. Term-12 policies have annual premiums above ₹26,000 (all ages), so their maturity proceeds may be fully taxable as income. Term-15 and term-20 policies generally stay under the threshold. Verify the exact tax treatment with a chartered accountant before purchase, especially for short-term policies.
Asymmetrica isn't an insurance advisor. The analysis above is editorial, sourced from published LIC brochures and policy documents. Verify eligibility, current rates, and plan-specific conditions with LIC or a licensed advisor before purchasing.
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