16/02/2015
Life InsuranceCorporation of India introducesa uniqueNew Health Plan
– “LIC’SJeevan Arogya”
Mumbai, 31
st
May 2011: From Ist of June 2011, LIC of India is launching a New NonLinked Health Insurance Plan “Jeevan Arogya”. The plan offers comprehensive
hospitalization benefits for the whole family of the Principal Insured. A unique feature of this
plan is that it also offers to cover the Parents in-law of the Principal Insured besides spouse,
minor children and parents. There is a provision for inducting additional members or removal
of existing members in case of any change in family circumstances of the Principal Insured.
Thisis a Defined Benefit Policymeaning thatbenefits are fixed in terms of policy conditions
and are payable irrespective of the actual amount spent on treatment. Moreover, the benefits
are payable regardless of the Life Insured getting reimbursement under any other
scheme from his/her employer or any other insurance company, on the basis of certified
photocopies ofthe originalbills.
The minimum age at entry for Principal Insured is 18 years and maximum age at entry
would be 65 years for self and spouse while it is 75 years for parents and parents in-law. For
children,theminimumage atentryis 91 daysandthe maximumage atentryis 17 years.
The plan provides for continuing health cover of major family members up to age 80
and for minor children up to age 25. It offers various benefits to cover the different
hospitalization needs of the insured’s family. Another unique feature of this plan is that it
offers to cover all surgeries. 140 major surgeries are covered under Major Surgical
Benefits, another 140 surgeries which do not need overnight hospitalization are covered
under Day Care Procedure Benefit and all other surgeries are covered under special
categoryof OtherSurgicalBenefits.
Hospitalization in case of non surgical treatment beyond twenty four hours is covered
under Hospitalization Cash Benefit. In case, hospitalization is for seven days or more,
payment is made for these twenty four hours as well. The policy can be taken for an Initial
Daily BenefitofRs 1000/-,2000/-,3000/- or 4000/-The MajorSurgical Benefit willbe 100
times of the Daily Benefit. The Maximum Life time Benefit applicable to each insured is 8
times of Major Surgical Benefit Sum Assured. Day Care Procedure Benefit will be five
times of the Daily Benefit. Maximum three surgical procedures in a year are covered subject
to Life time Benefit of twenty four surgical procedures in respect of each insured. The Other
SurgicalBenefitin respectof eachinsured is two timesof the DailyBenefitper dayfor up to
360 daysduringpolicyterm.
To provide for increase in cost of medical treatment, the benefits shall increase by 5%
every year up to a maximum of 1.5 times of the original benefit. In case no claim is made
under the policy for a period of three years, the benefits payable under the policy would be
furtherenhancedby5 % withoutanyupper limit.
Quick Cash Facility allowing payment of 50% entitlement can be availed as advance,
incase of 57 specifiedmajorsurgeries.
Premium Waiver Benefit and Ambulance Benefit are also available in case of certain
majorsurgeries.
The plan also offers the option of taking Term Assurance Rider (up to 100 times of
InitialDailyBenefit)and Accident Benefit Riderfor the PrincipalInsuredand spouse.
Thepremium willdepend on one’s age,gender, theHealthcover optionone haschosen,
whether one is Principal Insured or other insured life and the mode of payment. The
premiums can be paid regularly at yearly, half-yearly, quarterly or monthly (ECS mode only)
intervalsoverthe termof thepolicy.
The plan offers very attractive rebates for higher Sum Assured and Half-Yearly / Yearly
modeof Payment.
For furtherInformationpleasecontact:
ExecutiveDirector(CC)
Address : LIC of IndiaCentralOffice Mumbai.
Telephone:
Emailid :[email protected]
Visit us at www.licindia.in
