Micro Plan
Small premium, powerful protection — quality insurance made accessible for everyone.
About Micro Plan
LIC's Micro Insurance Plans (Micro Bachat, Pradhan Mantri Jeevan Jyoti Bima Yojana) are designed to make life insurance accessible and affordable for people in the lower income brackets, rural areas, and the informal sector. These plans offer meaningful insurance protection at premiums that are within reach of daily wage workers, agricultural laborers, small traders, and self-employed individuals. The Government of India and LIC have jointly worked to ensure that financial security is not a privilege of the wealthy but a right of every Indian citizen. Micro plans are simple, easy to understand, and have minimal documentation requirements.
Quick Benefits
- Very affordable premiums
- Simple enrollment process
- Minimal documentation
- Government-backed schemes
- Basic life cover for family
- Easy claim process
Who Should Take This Plan?
Daily wage workers and laborers who want affordable life protection for their family.
Agricultural workers and farmers in rural areas.
Small traders, vendors, and self-employed individuals with limited income.
People who have never had insurance before and are looking for an entry-level plan.
Those in the informal economy who lack access to employer-provided insurance.
Government scheme beneficiaries looking for supplementary insurance coverage.
Key Features
Ultra-Affordable
Premiums starting as low as ₹330 per year under government-sponsored schemes like PMJJBY.
Simple Process
Easy enrollment through banks, post offices, and CSCs with minimal paperwork and documentation.
Government Backing
Many micro plans are backed by the Government of India ensuring reliability and claim certainty.
Wide Accessibility
Available through multiple distribution channels including Jan Dhan accounts and common service centers.
Basic Life Cover
Provides ₹2 lakh to ₹5 lakh life cover ensuring the family has some financial support in crisis.
Renewable Annually
Annual renewal means you only pay when you need the cover, with no long-term commitment required.
Save Taxes While You Protect
Micro plan premiums, where applicable, may qualify for tax deduction under Section 80C. Government-sponsored scheme premiums may also be eligible for deductions. Consult Atul Gitay to understand the specific tax benefits applicable to your chosen micro insurance product.
Why This Plan Stands Out
Inclusion-Focused
Designed specifically to include those left behind by conventional insurance products.
Lowest Entry Point
The most affordable way to enter the insurance ecosystem and protect your family.
Vs No Insurance
Even ₹330/year provides ₹2 lakh cover — far better than having no protection at all.
Simple Claims
Streamlined claim process ensures families receive benefits quickly without bureaucratic hurdles.
Government Assurance
Sovereign backing of Government of India provides unmatched reliability.
Stepping Stone
Builds the habit and understanding of insurance, enabling upgrade to better plans over time.
Interested in Micro Plan?
Let Atul Gitay guide you through the plan details and find the best option for your specific needs. Get a free, no-obligation consultation today.
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- Free consultation
- No sales pressure
- Personalised advice
- Quick response
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Ready to Secure Your Future?
Get a free, no-obligation consultation with Atul Gitay today. He will help you find the right insurance plan.