LIC’s Jeevan Arogya plan offers comprehensive hospitalisation benefits for the whole family. 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.
This is a defined benefit policy means that benefits are fixed in terms of policy conditions and are payable irrespective of the actual amount spent on treatment. 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 of the original bills.
Salient features of LIC’s Jeevan Arogya
1- The minimum age at entry for principal insured should be 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, the minimum age at entry is 91 days and the maximum age at entry is 17 years.
2- The plan provides continuing health cover for senior family members up to the age of 80 and for minor children up to age 25.
3- The plan offers to cover around 140 major surgeries under major surgical benefits, another 140 surgeries which do not need overnight hospitalisation are covered under day care procedure benefit and all other surgeries are covered under special category of other surgical benefits.
4- Hospitalisation in case of non-surgical treatment beyond 24 hours is covered under hospitalisation cash benefit. In case, hospitalisation is for seven days or more, payment is made for these 24 hours as well.
5- In case no claim is made under the policy for a period of three years, benefits payable under the policy would be further enhanced by 5 per cent without any upper limit.
6- The scheme also offers quick cash facility, which allows payment of 50 per cent entitlement as advance in case of 57 specified major surgeries.
7- Premium waiver benefit and ambulance benefit are also available (in case of certain major surgeries).
8- The plan also offers option of term assurance rider (up to 100 times of initial daily benefit) and accident benefit rider for the principal insured and spouse.