LIC's New 'Micro Bachat' Plan

a) Life Insurance Corporation launched a New 'Micro Bachat' Plan, it is a regular premium, non-linked, participating micro-insurance plan which offers a combination of protection and savings.
b) This plan provides financial support for the family in case of unfortunate death of the policyholder during the policy term and a lump sum amount at the time of maturity for the surviving policyholder.
c) Eligibility Conditions:-

1. Minimum Basic Sum Assured:- Rs. 50,000/-
2. Maximum Basic Sum Assured per life:- Rs. 200,000/- (The Basic Sum Assured shall be available in multiples of Rs.5,000/-)
3. Minimum Age at entry:- 18 years (completed)
4. Maximum Age at entry:- 55 years (nearer birthday)
5. Policy Term:- 10 to 15 years
6. Maximum Age at Maturity:- 70 years (nearer birthday).