LIC’s (Life Insurance Corporation) Jeevan Arogya is a unique non-participating non-linked plan which provides health insurance cover against certain specified health risks and provides with timely support in case of medical emergencies, and helps the insured and family remain financially independent in difficult times. There shall be no general waiting period in case hospitalization or surgery is due to accidental bodily injury. There shall be a general waiting period during which no benefits shall be payable in the event of hospitalization or surgery, if the said hospitalization or surgery occurred due to sickness. The general waiting period shall be ninety days from the date of cover commencement in respect of each insured.
LIC Jeevan Arogya Policy. Ten Things To Know
1. The insurance policy covers the principal insured (PI), your spouse, your children, your parents and parents of your spouse can all be insured under one policy.
2. The minimum age at the time of entry is 18 years and maximum is 65. For parents, the minimum age of entry is 18 years and the maximum is 75 years. For children, the minimum age of entry is 91 days and the maximum is 17 years.
3. The benefits offered under the plan are hospital cash benefit, major surgical benefit, day care procedure benefit, other surgical benefit, ambulance benefit and premium waiver benefit.
4. No loan is available under the plan.
5. The total number of days for which hospital cash benefit would be payable, in respect of each Insured, in a Policy Year would be restricted to: a) A maximum of 30 days of hospitalization out of which not more than 15 days shall be in an ICU in the first policy year following the date of commencement of cover in respect of that insured. b) A maximum of 90 days of hospitalization out of which not more than forty five days shall be in an intensive care unit in the second and subsequent policy years following the date of commencement of cover in respect of that insured.
6. Children covered under this plan shall have the option to take a suitable new health insurance policy (subject to underwriting) at the end of the specified exit age or at the renewal of the policy after completion of 18 years of age. The new policy should be purchased within 90 days of the termination of child’s membership from the existing policy.
7. The insured can choose the amount of initial daily benefit (i.e. the daily Hospital Cash Benefit applicable in the first year of the policy) as per your need from out of the following choices: Rs 1000 per day, Rs 2,000 per day, Rs 3,000 per day and Rs 4,000 per day.
This is the amount that will be payable to the insured in the event of hospitalisation in the first year on a per day basis.
8. The major surgical benefit that you will be covered for will be 100 times the initial daily benefit you have chosen. Thus the initial major surgical benefit sum assured will be Rs 1 lakh, Rs 2 lakh, Rs 3 lakh, and Rs 4 lakh respectively.
9. Other benefits such as day care procedure benefit, other surgical benefit and premium waiver benefit (PWB) shall also be payable depending upon the daily Hospital Cash Benefit chosen.
10. Each of the insured are covered for Health risks up to age (80). Children are insured up to age 25 years.
Source: NDTV Profit