LIC Jeevan Arogya

LIC Jeevan Arogya

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LIC Jeevan Arogya Plan

When it comes to offering a complete insurance suite of the most comprehensive financial security in terms of health and life, you are in safe hands with India’s most domineering and trusted insurance brand, The Life Insurance Corporation of India.

Over the years since inception, the LIC has surpassed several landmarks and set phenomenal performance records in various domains of life and health insurance, with very competitive costs. The company ensures that all funds are invested, keeping in mind the best interests of investors, so they earn handsome returns.

Outlined below are the succulent health insurance plans of the LIC. As you must be aware, the focus on health and associated costs forms a crucial aspect of everybody’s financial and domestic planning. With healthcare costs shooting up significantly over the last decade even for minor ailments, it is all the more important you seriously start considering a recourse should your finances become unstable as you grow older.

That’s where LIC Jeevan Arogya Plan steps in.

Providing robust monetary security to the insured in cases of Hospitalization, Surgeries (including major ones) and even Day Care procedures at the hospital, The LIC Jeevan Arogya is a non-linked non-participating health insurance plan our company offers.

LIC Arogya Jeevan - Outstanding Features

You get considerable financial coverage in cases of hospitalization and surgery

You get huge benefit regardless of actual medical costs

Your health cover expands every year

You can opt for flexible benefit limit

You get to choose flexible premium payment modes

You can avail no claim benefit

Eligibility Criterion for Enrolling Under the Policy

All of the below mentioned can be covered under a single Jeevan Arogya Policy of our company. Now, isn’t that quite convenient and hassle-free!

Who's Covered Minimum Age Required for Enrolment Maximum Age Permitted for Enrolment Maximum Age of Coverage
Self and Spouse 18 Years 65 Years (last birthday) 80 Years
Parents and Parent-in-Laws 18 Years 75 Years (last birthday) 80 Years
Children 91 Days 17 Years (last birthday) 25 Years

So, To Which Extent and What All does the Plan Cover?

PAll you need to do is to choose the level of health cover, which essentially means selecting the amount of the Initial Daily Benefit according to your requirement from rupees 1000 per day, rupees 2000 per day, rupees 3000 per day and rupees 4000 per day. This would be the sum payable to you per day in case of hospitalization during the first year of policy coverage.

In addition to the above, Major Surgical Benefits, if any, would accrue to be 100 times the Initial Daily Benefit. Consequently, the Major Surgical Benefits Sum Assured during the first year of policy cover would be rupees 100,000, rupees 200,000, rupees 300,000 and rupees 400,000 respectively depending upon the Initial Daily Benefit amount chosen.

Benefits such as Day Care Procedure Benefit, Premium Waiver Benefit and Other Surgical Benefits are also linked to the Daily Hospital Cash Benefit.

Summarized below is the LIC Jeevan Arogya Plan coverage in the table
Type of Cover Coverage Provided Maximum Coverage Provided
Daily Hospital Cash Rupees 1000 or Rupees 2000 or Rupees 3000 or Rupees 4000, with minimum of 24 hours of hospitalization required 30 days during the first year, including 15 days in ICU; and triples from second year onwards
Major Surgical Benefits From Rupees 100,000 to Rupees 400,000 100 times the Daily Hospital Cash, and covers up to 140 major surgeries
Day Care Procedure Benefits Five times the Daily Hospital Cash Thrice yearly, and 24 times during the policy tenure
Other Surgical Benefits Twice the Daily Hospital Cash with hospitalization exceeding 24 hours 15 days coverage during first year and 45 days from second year onwards
The LIC Jeevan Arogya Premium Calculator
Age at Enrolment Premium for Male Premium for Parent (Principal Insured / Spouse (Female) / Spouse) Female Child
20 1922.65 1393.15 792.00
30 2242.90 1730.65 794.75
40 2799.70 2240.60 812.35
50 3768.00 2849.10 870.75

Note: Premiums are exclusive of service tax.

Seven Unique Features of the Jeevan Arogya Policy

1.It is a non-linked non-participating health insurance plan: Unlike our other life insurance plans, this plan doesn’t entail any other benefits such as LA or FAB, being only a health benefit plan. It also doesn’t accrue any investment benefit.

2.It has defined benefits: As benefits are pre-defined, so they are not linked to actual expenses.

3.It offers Hospital Cash Benefits: All that’s required is for you to submit your medical bills for claims acceptance and processing.

4.Substantial claim in a medical emergency, which is double the Daily Hospital Cash when the insured is admitted to the ICU.

5.Surgeries falling under the Major Surgical Benefits are 50% of the sum assured during hospitalization.

6.The premium for a year gets waived off under special categories falling under the Major Surgical Benefits.

7.You get a 30 days grace period for annual and semi-annual premium paying modes.

The Advantages you get under the Jeevan Arogya Plan

1.The entire family, including the extended family to an extent can be covered just under one health policy. Such as your parents, spouse, child and in-laws.

2.All types of surgeries, including Daycare treatments are covered under this policy.

3.You are eligible for a no claim Bonus

4.An additional Critical Rider Illness Benefit is also offered in this policy along with Critical Illnesses being covered

5.You get the convenience to track your applications online besides being able to buy and renewing the policy online.

6.You get to enjoy Income Tax benefits for premiums paid up to rupees 15000 for normal residents and rupees 20000 for Senior Citizens as these are permissible for deduction from your taxable income every year under Section 80D of the Act.

7. You have the flexibility of claiming under the policy by filing a Cashless Claim or a Reimbursement Claim. The Cashless claims can be filed for both planned and emergency hospitalization, with the only criterion being that the hospital where the insured is admitted should be empanelled with the Third Party Administrator (TPA) which assists the insured and processes claims for our company.

Jeevan Arogya Plan Details / Benefits

1.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, our company would be paying an amount equal to the applicable Daily Benefit.

2.Day Care Procedure Benefit: In instances of Day Care Procedures falling under this policy, to take care of the insured’s medical needs, a lump sum amounting to 5 times the Daily Benefit would be paid regardless of the actual cost incurred.

3.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.

4.Other Surgical Benefit: Should a surgery be performed upon the policyholder that is not covered under the policy, then a daily benefit amounting to double the applicable Daily Benefit would be paid out for each extended period of 24 hours

5.Ambulance Benefit: Wherever Major Surgical Benefits are not successful, our company would provide emergency transportation costs of the ambulance, an amount of rupees 1000.

6.Premium Waiver Benefit: Under any of such events where the Major Surgical Benefits are not successful, the company would be waiving off the total annualized premium of one year

Documents required for filing a Claim under the Plan

Proper safe-keeping and storage of the following documents would ensure you get a smooth claims processing.

Hospital Discharge Summary

All prescriptions and bills with break-up

Advance and final payment receipts

All types of diagnosis, scans, X-ray, ECG and other relevant Reports

Copies of all investigations

The above documents need to be filed along with the Claims Form and a copy of photo ID proof

Exclusions under the Plan

The salient features of the e term plan include the following:

Pre-existing diseases and complications arising thereof

AIDS / HIV-related diseases

Hospitalization and injuries owing to war, civil or criminal proceedings, marital law, etc

Experimental treatment or surgery

Organ donor expenditure

Dental treatment

Deliberately and knowingly injuring body and health

Injury or sickness under the influence of alcohol or drugs without being under doctor;s advice

Participation in dangerous sports such as bungee-jumping, martial arts, skydiving, paragliding, mountaineering, hunting, scuba diving, driving races, etc.

Injuries and hospitalization due to chemical and biological contamination, terrorism, or owing to exposure to hazards such as working in high electricity voltage establishments, underground mines or explosion-prone areas

Injury and hospitalization owing to prolonged childbirth or pregnancy

Nervous or mental treatments

Genetic and congenital disorders or birth defects unless expressly covered under the plan

Treatments which become necessary owing to the failure to act upon sound medical advice

*Information provided on this webpage/website is only for the purpose of general information & understanding of the topic. PolicyX or any of its subsidiaries does not endorse any of the information provided herewith and are committed in providing correct and unbiased information to its customers helping them make an informed decision.