LIC's Jeevan Arogya policy is a non-linked health insurance plan that provides financial security to the entire family against hospitalization and medical expenses. It offers benefits such as hospitalization, surgery, day-care, and ambulance charges. With a daily cash benefit ranging from ₹1,000 to ₹4,000 and substantial cover for surgeries, it ensures financial support during sudden medical needs.
LIC Policy: Amidst growing concerns over healthcare costs, LIC's Jeevan Arogya policy is a reliable option for providing financial security to the family. This plan offers immediate assistance in cases of hospitalization, surgery, day-care treatment, and serious accidents. Under the policy, policyholders can choose a daily cash benefit (₹1,000-₹4,000) according to their needs, which also determines a substantial surgical cover. It includes benefits like a non-claim bonus, ambulance charges, and easy claim settlement. Individuals aged 18 to 65 years, along with their parents, children, and in-laws, can also be covered under this scheme.
What is LIC Jeevan Arogya Policy
Jeevan Arogya is a non-linked and non-participating health insurance plan. This policy provides direct financial support to the family in case of hospitalization, surgery, or serious illness. The most significant feature is that the policy does not depend solely on the actual cost of treatment but provides a fixed lump sum benefit. This means that regardless of the medical bill amount, a predetermined sum as per the policy is paid.
Coverage for All Family Members
The biggest advantage of this policy is that the entire family can be covered under a single plan. Besides the principal insured, their spouse, children, parents, and in-laws can be included in the policy. There are also age limits. For spouse, the age limit is 18 to 65 years; for parents and in-laws, it is 18 to 75 years; and for children, it is from 91 days to 17 years of age.
How Benefits are Received
The Jeevan Arogya policy provides a daily cash benefit upon hospitalization. Customers can choose a daily benefit of ₹1,000, ₹2,000, ₹3,000, or ₹4,000 as per their convenience. The surgical cover is determined based on this choice. For example, if someone opts for a daily benefit of ₹1,000, they will receive a cover of ₹1 lakh for major surgeries. Similarly, for ₹2,000, it is ₹2 lakh, and so on.
Claiming under this policy is also very easy. Upon hospitalization, 50 percent of the total expenses are paid immediately. For this, only photocopies of the bills need to be submitted. In case of serious accidents or major surgeries, claims are settled promptly.
Another significant feature of the policy is that the health cover increases every year. Additionally, if the customer does not make any claims, they also receive a non-claim bonus. This means the policy becomes ber over time.
Premium Details
The premium depends on the customer's age, gender, and the chosen cover. For instance, a 20-year-old male customer choosing a daily benefit of ₹1,000 will have an annual premium of approximately ₹1,922. At 30 years, it will be ₹2,243, at 40 years ₹2,800, and at 50 years ₹3,768. For women, this premium is slightly lower, starting from ₹1,393 annually for a 20-year-old woman. The premium for children is even lower, just ₹792 annually for a newborn.
Additional Benefits Included
This policy also offers several other benefits. An amount of up to ₹1,000 is provided for ambulance charges. In case of ICU admission, the benefit is double the normal hospitalization charges. For example, if someone has chosen a daily cover of ₹4,000, this amount increases to ₹8,000 per day for ICU admission. This facility can be availed a maximum of five times a year.
Why It Is Special
The LIC Jeevan Arogya policy offers an opportunity to cover every member of the family together. In situations like hospitalization, surgery, day-care treatment, and sudden medical emergencies, this policy becomes a direct financial support. This plan can prove to be a reliable option for protection against unforeseen expenses.
