Lic Micro Bachat vs Fixed Maturity Plan

LIC Micro Bachat Plan (Table No. 951) is a traditional, non-linked, participating micro-insurance plan that offers dual benefits of protection as well as savings. As the name suggests ‘micro bachat’ means ‘small savings’, this plan is designed to provide financial support to the family in case of the unfortunate death of the policyholder. If the policyholder survives the policy tenure, a lump sum amount at the time of maturity is payable. The plan also provides a loan facility to take care of liquidity needs. The plan is ideal for the low-income groups.

It is a newly launched product by LIC India, which is available at an affordable price with lots of benefits. Benefits such as  Maturity benefits and Surrender benefits are available once the payment of 5 full years of premiums is paid.

Under this policy, the insured can also avail loan during the policy tenure, provided full payment of premiums for at least 3 years. In the case of an active insurance plan, 70% of the loan can be availed on the total premium paid. Whereas in the case of a paid-up policy, loan for a 60% of the amount can be availed.

LIC Micro Bachat Plan offers you a range of benefits including:

• Maturity benefits
• Death benefits
• Loyalty additions

• Loan facility
• Surrender benefits

Aditya Birla Sunlife Fixed Maturity Plan is a non-linked, non-participating endowment product providing fully guaranteed benefits as a lump-sum on maturity. ABSLI Fixed Maturity Plan is a savings vehicle that offers life insurance protection and savings advantages to protect your loved ones from financial hardship in the event of a tragic event, while also assisting you in building lump sum benefits to realize all of your goals.

BSLI Fixed Maturity Plan is a versatile insurance plan with numerous Policy Terms & Sum Assured Multiples to meet your needs and Enhanced Maturity Benefit for higher premiums. ABSLI Fixed maturity plan has a Single Pay Option with the flexibility to choose the policy term between 5- 10 years. By offering protection advantages over the course of the policy, this plan builds a guarantee cushion for your funds, assisting in the protection of all your dreams. 

This plan offers you various benefits including:

• Guaranteed Maturity Benefit
• Death Benefit
• Policy Loan Benefit

• Surrender Benefit
• Partial Withdrawals