LIC Jeevan Arogya Plan

Listed below is the cover offered by LIC Jeevan Arogya

1. Maturity benefit - There will be no maturity benefit paid under the policy.
2. Hospitalisation cash benefit - If the insured or any other insured covered by the plan is hospitalised due to accidental body injury or sickness they can avail the hospitalisation cash benefit.
3. Day care procedure benefit which is paid in lump sum
4. Major surgical benefit - If the insured is going under any surgery within the policy period they can avail the major surgical benefit.
5. Other surgical benefits - Surgeries not covered under the major surgical benefit will be covered under this.
6. Ambulance benefit - Ambulance charges up to Rs.1000 per insured is covered every year.

Listed below are the benefits of LIC Jeevan Arogya plan.

1. Death benefit - No death benefit is payable on the death of the insured unless one has opted for a special rider benefit.
2. Hospitalisation cash benefit - One can choose a cover of Rs.1000 to Rs.4000 per day for HCB
3. Major surgical benefit - Major surgical benefit is always 100 times your Hospital cash benefit
4. Premium waiver benefit
5. Accidental benefit rider is an option
6. No claim benefit - Increasing health cover every year

Eligibility conditions

Listed below are the conditions expected to be fulfilled by the individual to qualify for the plan.

Payment of premiums

The premiums can be paid at annual, biannual, quarterly and monthly basis. The premium is payable from the initiation of the policy till the end of the policy. The premium amount will depend on the age of the insured and the Hospital cash benefit chosen. The premiums to be paid is guaranteed for 3 years from the date of initiation of the policy. If the premiums aren't paid within the revival period the policy will be terminated.

Given below is an illustration of the premium payment for a defined time period.

Exclusions

Listed below are the exclusions of LIC Jeevan Arogya plan.

1. Pre existing conditions
2. Epidemic conditions
3. Plastic surgery
4. Cosmetic treatments
5. Beauty treatments
6. Attempted suicide
7. Injuries from self harm
8. Abuse of drugs
9. Congenital conditions
10. Pregnancy conditions
11. Child birth conditions
12. Radioactive conditions
13. Injuries from natural catastrophe
14. Injuries incurred from participating from dangerous sports.

An Example

Mr. Amit, a 32 year old working professional opts for LIC Jeevan Arogya policy including his wife and parents in the policy. With LIC Jeevan Arogya policy, Amit can also include his 28 day old child once it completes 91 days from the date of birth. This policy can be bought online either through the Bank's official website or through third party financial websites.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017