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Micro Insurance

Other Plans

Micro Insurance Plan – 650 (Thrift Savings)

Unique features: Affordable

Need to Know:

  • Age Limit- Minimum: 18 years & Maximum: 60 years
  • Sum Assured: Minimum $.2000 & Maximum $.7000
  • Policy Term: 5 to 10 years
  • Auto Cover and inbuilt Accident Benefit & Disability Benefit
  • Inbuilt Funeral Benefit of 10% of the Sum Assured

To know “What is in there for You” click here


Minimum age at entry

18 years (Completed)

Maximum age at entry

60 years (Nearest Birthday)

Maximum age at maturity

70 years

Minimum Basic Sum Assured

$2,000 (multiples of $ 500)

Maximum Basic Sum Assured


Term of policy

5 to 10 years

Minimum Accident Benefit Sum Assured


Maximum Accident Benefit Sum Assured

Equal to Basic Sum Assured subject to the maximum aggregate limit of $200,000 under all existing policies on the same life

The policy is available for terms from 5 to 10 years in the sum assured range of $2000 to $7000 (multiples of $500). All modes of premium payment allowed subject to certain conditions.

Auto Cover

If two full years premiums have been paid, however premium payments thereafter having been missed, Death Benefit will still continue for a period of two years. This is called Auto-Cover Period and begins from the due date of the First Unpaid Premium (FUP).

If death occurs during the Auto Cover period, the death benefit is payable, however unpaid premiums with interest and due premiums are deducted. Accident Benefit during Auto Cover is not paid; however, the Funeral benefit is payable during the Auto Cover period.

The following benefits are payable provided the policy is in force and all premiums are up to date:

i) Death Benefit – If the policyholder passes away, amount equal to Basic Sum Assured is paid out.

ii) Funeral Benefit – If the policyholder passes away, 10% of the Basic Sum Assured shall be paid out immediately to cover funeral expenses, provided the policy is in force or under Auto Cover.

iii) Maturity Benefit – If the policyholder survives till the end of the term, he/she will receive full Basic Sum Assured along with Loyalty Additions*, if any, which are declared based on the experience of LICI.

iv) Accident Benefit * – In case of accidental death of the policyholder during the term of the policy, an additional sum equivalent to the Basic Sum Assured will be paid, provided the policy is in force.

v) Loyalty additions * – The policy shall, however, be eligible to share profits of the Corporation in the form of one time Loyalty Additions, depending on the Corporation’s experience with regard to policies issued under this plan. On the Life Assured surviving the stipulated date of Maturity, the Loyalty Addition, if any, shall be payable at such rate and on such terms as may be declared by the Corporation under this policy provided it is in full force for the benefits at that time.


Policy Term: 5 years

AgeYearlyHalf YearlyQuarterlyMonthlyFLYWKLY

Policy Term: 10 years

AgeYearlyHalf YearlyQuarterlyMonthlyFLYWKLY

  • All premium rates are in Fiji Dollars.
  • Premiums include accident, disability and funeral expenses benefit.
  • Sum assured range is from $2000 to $7000 in multiples of $500.
  • Specific quotations for other sum assured for different terms available on request.
All Information provided on this website is only illustrative and is subject to change.
Please contact your LICI Agent or LICI office for any further clarifications.