LIC Arogya Rakshak (Plan 906) is new medical medical medical insurance safety by LIC. Arogya Rakshak is non-linked, non-participating widespread premium fastened income successfully being plan. This plan covers hospitalization and surgical price. This plan is similar to LIC Jeevan Arogya safety. Earlier Jeevan Arogya Policy will probably be discontinued as rapidly as LIC Arogya Rakshak safety is launched. LIC Arogya Rakshak comes with a number of benefits. In this put up, I might cowl all decisions, advantages, positives and negatives of this plan.
LIC Arogya Rakshak Key Features
- Non-linked, non-participating plan available on the market as express particular person medical medical medical insurance together with household floater plan.
- As per Family floater plan definition head of household might probably be principal insured (PI) and he can embody affiliate, kids and fogeys in to safety.
- Defined income plan that provides determined quantity no matter actual hospitalization or surgical course of expense.
- You can get hospital money income, most necessary surgical income, day care course of income, fully totally different surgical income, medical administration income and plenty of others.
- The preliminary day income is ranging between Rs.2500 to Rs.10000 per day.
Eligibility Conditions or Arogya Rakshak Policy
| Condition | Principal Insured | Insured Spouse | Insured Children |
| Minimum Age Entry | 18 years | 18 years | 91 days |
| Maximum Age Entry | 65 years | 65 years | 20 years |
| Cover Ceasing Age | 80 years | 80 years | 25 years |
| Minimum Initial Daily Benefit | Rs.2500 | Rs.2500 | Rs.2500 |
| Maximum Initial Daily Benefit | Rs.10000 | Less or equal to PI | Less or equal to PI |
| Cover Period | 80 – (age at entry) | 70 – (age at entry) | 25 – (age at entry) |
Benefits of LIC Arogya Rakshak Policy
Hospital Cash Benefits
Hospital Cash Benefit (HCB) is payable all by way of safety security interval. This income is payable incase of hospitalization for twenty-four hours or above on account of physique hurt or illness. Any interval exceeding by 4 hours above 24 hours is considered as in some unspecified time sooner or later.
- Hospitalization in General or Special Ward – Initial day by day income might probably be payable for hospitalization for twenty-four hours or above.
- Hospitalization in ICU of Hospital – Two conditions associated day by day income is payable for hospitalization for twenty-four hours and above.
- Combined Stay in ICU and Non ICU – Amount will probably be paid as per the events admitted in every unit.
Above hospital money income is said provided that hospitalization happens in India. Total variety of HCB is payable all through the primary safety yr is restricted to 30 days. For subsequent yr HCB payable is restricted as quite a bit as 90 days. Total HCB payable days can not exceed 900 days in entire safety tenure.
Major Surgical Benefits
Major surgical course of income (MSB) is payable in case of most necessary surgical course of. The income might probably be 100 conditions of HCB. The proportion of advantages payable varies based mostly on class of surgical course of. The proportion varies from 20% to 100%. Premium waiver income is given for 1 yr from the date of surgical course of.
Surgery have to be carried out in India. In case of extra surgical procedures are carried out, quantity of most extreme surgical course of shall be paid. Total MSB payable can not exceed 100% of most necessary surgical advantages associated for that safety yr.
In addition to most necessary surgical income one can get ambulance income, premium waiver income and most necessary surgical income restoration.
Medical Management Benefit
In case insured is present course of inpatient hospitalization all by way of the cowl interval on account of illness like dengue, malaria, pneumonia, tuberculosis or viral hepatitis A one will get lump sum of two.5 conditions of associated day by day advantages.
Extended Hospitalization Benefit
Extended Hospitalization income is a further income payable except for hospital money income, most necessary surgical income, fully totally different surgical income. This income is payable incase insured is present course of inpatient hospitalization in extra of 30 days inside cowl interval on account of unintentional hurt or illness.
Premium Review
In this safety premium overview happen each 3 years. This means premium won’t be going to stay mounted like your life insurance coverage protection safety safety. The revised cost shall be assured for the additional interval of three years. The premium cost of this safety might probably be based mostly on age entry. In case of typical medical medical medical insurance outfitted by fully totally different companies premium is revised each 5 years. This means LIC is revising premium fairly a bit earlier.
Should you purchase LIC Arogya Rakshak Policy?
LIC Arogya Rakshak safety is printed income safety which is plus stage about this safety. This means advantages will probably be paid to insured no matter quantity spend on hospitalization, surgical procedures or medicines.
The greatest downside of this safety is chances are you’ll not get cashless income. This signifies that it is best to spend cash in case of hospitalization. Once hospitalization is achieved you will declare this quantity.
Another downside of this plan is premium overview which is achieved each 3 years. In fully totally different medical medical medical insurance insurance coverage protection insurance coverage insurance policies premium overview happen each 5 years.
Looking at widespread decisions and particulars it’s advisable to go for typical medical medical medical insurance plan as an alternative of LIC Arogya Rakshak.
