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Overview
When it comes to offering a complete insurance suite for comprehensive financial security in terms of health and life, you are in safe hands with India's leading and trusted insurance brand, the Life Insurance Corporation of India.
Since its inception, LIC has surpassed several landmarks and set phenomenal performance records in various domains of life and health insurance, offering competitive costs. The company ensures that all funds are invested, keeping in mind the best interests of investors, so they earn handsome returns.
Below is an overview of LIC's health insurance plans. As you know, focusing on health and associated costs is a crucial aspect of everyone's financial planning. With healthcare costs rising significantly over the last decade, even for minor ailments, it is essential to consider a plan to safeguard your finances as you grow older.
LIC Jeevan Arogya Plan Benefits
LIC Jeevan Arogya Plan offers a range of benefits, including:
- Increasing health coverage every year
- No claim benefits
- Hospi cash benefit
- Premium waiver benefit
- Flexible benefits limit
How to Buy LIC Jeevan Arogya Plan on PolicyX.com
- Visit the official website of PolicyX.com.
- Click on the 'Health Insurance' tab.
- A new page will appear.
- Fill out the form at the top of the page with the necessary details.
- Select your income and city, then click 'Proceed'.
- Update your education and occupation details.
- Choose your preferred plan and click 'Buy this plan'.
- Select the policy term, premium period, investment amount, and riders (if required), then proceed to pay.
Benefits of LIC Jeevan Arogya Plan
There are various benefits to buying the LIC Jeevan Arogya Plan. Let's understand each of them in detail:
- Hospital Cash Benefit: In cases of hospitalization due to accidental injury or sickness for a period not less than 24 hours, and where such a stay stretches for more than 4 hours in a non-ICU ward or room, the company would be paying an amount equal to the applicable Daily Benefit.
- Major Surgical Benefit: In the event of the insured having to undergo a surgery owing to accidental injury or illness, then the respective benefit percentage would be paid as long as the surgery is covered under the policy.
- Ambulance Benefit: Wherever Major Surgical Benefits are applicable, the company would provide emergency transportation costs of the ambulance, an amount of rupees 1000.
- Premium Waiver Benefit: Under any of such events where the Major Surgical Benefits are applicable, the company would be waiving off the total annualized premium of one year.
Additional Features
Single Premium
The policy buyer needs to make a single premium payment only, and his/her life is insured for a specific time period.
Grace Period
You get a 30 days grace period for annual and semi-annual premium paying modes.
Free Look Period
This plan offers you a 30-day free look period to cancel the policy if you are not satisfied.
Tax Benefits
LIC Jeevan Arogya Plan offers term insurance tax benefits under section 80C of the Income Tax Act, 1961 for up to 1.5 lakhs of the total premium paid in the same financial year.
Inclusions
- Hospital Cash Benefit: In cases of hospitalization due to accidental injury or sickness for a period not less than 24 hours, and where such a stay stretches for more than 4 hours in a non-ICU ward or room, the company will pay an amount equal to the applicable Daily Benefit.
- Major Surgical Benefit: In the event of the insured having to undergo surgery due to accidental injury or illness, the respective benefit percentage will be paid as long as the surgery is covered under the policy.
- Ambulance Benefit: Where Major Surgical Benefits are applicable, the company will provide emergency transportation costs for the ambulance, an amount of ₹1000.
- Premium Waiver Benefit: Under certain events where Major Surgical Benefits are applicable, the company will waive off the total annualized premium for one year.
Exclusions
- If the policyholder commits suicide within 12 months of policy purchase, no death benefits are offered to their family members. In such cases, either 80% of the premiums paid to date or the surrender value acquired to date, whichever is higher, will be paid.
Documents Required to Buy LIC Jeevan Arogya Plan
Here is the list of documents required to buy the LIC Jeevan Arogya Plan:
-
Photo ID Proof
Photo ID Proof (any one): Passport, Aadhaar card, PAN card, Driving license.
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Age Proof
Age Proof (any one): Passport, Aadhaar card, PAN card, Driving license.
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Address Proof
Address Proof (any one): Utility bill, passport, voter ID, ration card.
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Medical Records
Medical Records of the policyholder, if requested.
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Income Proof
Income Proof (any one): Bank statement, last three months' salary slips (if salaried).
Plan at a Glance
| What's Good Here | What's Missing |
|---|---|
| Hospital cash benefit | Premium Offset |
| Premium waiver Benefit | High sum assured rebate |
| No claim benefit | Auto cover continuance |
| Flexible premium payment options | Top-up premium |
In a Nutshell
If you are looking for a policy that offers dual benefits of a health insurance plan and a term insurance plan, consider the LIC Jeevan Arogya Plan.
For more information related to this plan, you can visit PolicyX.com or call us at 1800-420-0269. Our insurance experts will listen to your unique needs and suggest the best possible solution for you.
