lic arogya rakshak plan details- Review
lic arogya rakshak plan details- Review
We will provide you with complete information about Life Insurance Corporation of India’s plan LIC Arogya Rakshak Plan -906. This plan is available from 19th July 2021. The table number of this plan is -906. It is a health insurance plan, but it is not like a medical plan, all its benefits are decided in advance. Arogya Rakshak Plan is a regular premium individual health insurance plan.
What is LIC Arogya Rakshak Plan?
- It is a health insurance plan but it is different from medical insurance, its benefits are pre-determined.
- It is a non-linked plan, meaning it is not a plan linked to the share market.
- It is a non-participating plan, which means that the company will not share its profits in any way.
- It is a regular premium plan.
Key Features of the Arogya Rakshak Plan
- In this plan, a lump sum payment is paid to the insured in the event of being admitted to the hospital. It has nothing to do with bills. The amount received by this insured can be less or more than the hospital bill.
- With this policy, your health cover increases by 15% every 3 years whether claimed or not. As long as cover increases to 1.5 times.
- In this policy, the benefit of no claim is also available, which means if you do not claim for 3 consecutive years, then the cover of the insured increases by 5% and always increases, never decreases.
- Auto health cover is also available in this plan, which means if something happens to the insured, the future premiums are waived off.
- If the policy taker undergoes a Category-I or Category II major surgery, then one year’s premium is waived off
- In this policy, the insured gets the facility of a health checkup every 3 years. Its limit will be 50% of the hair limit.
- The sum is assured by different members kept separately.
LIC Arogya Rakshak Plan Criteria
Age of entry in Arogya Rakshak policy
- The minimum age to join this policy is 18 years
- The maximum age is 65 years.
- If you include a child, then the minimum age of the child is 90 days, and the maximum age is 20 years.
Arogya Rakshak Cessing Age
- The Cessing Age is the age after which the benefits of the policy stop.
- – The person who is the policyholder i.e. in whose name the policy is in his name can take the policy benefits till the age of 80 years, and after that, the benefit stops.
- But other than the policyholder, the member (husband, wife, or parents) will get the policy only for 70 years.
Age of Cessing for Children If the policyholder has included his child then the child will get the benefit only till the age of 25 years,
Benefits of the Arogya Rakshak Plan
Hospital Cash Benefit (HCB) – If the insured is admitted to the hospital due to any illness or any accident, then the insured gets Hospital Cash Benefit.
Major Surgical Benefit – 263 major surgeries are covered in this benefit. In these 263 surgeries, if the insured undergoes any surgery, then he will get its benefit.
Day Care Procedure Benefit – 244 minor surgeries are covered in this benefit, in which the insured gets the advantage if he undergoes any surgery.
Other Surgical Benefit – In this benefit, whatever surgery is not covered in the above surgery will be covered.
Medical Management Benefit – If the insured comes to the hospital after suffering from these diseases Dengue, Malaria, Pneumonia, Pulmonary Tuberculosis, Viral Hepatitis A, then he will get its benefit.
Extended Hospitalization Benefit- If the insured has to remain admitted in the hospital for 30 days or more for the treatment of any disease, then he will be paid 10 times the applicable cash benefit. It will be in addition to the benefits given above.
Who can take Arogya Rakshak?
Those who take this policy are called principal insured. It includes the insured himself, his spouse, parents, and children.
All these will have to be covered while taking this policy, Later you cannot cover anyone.
If the insured marries after taking the policy, then cover his spouse within one year.
- Minimum sum assured- Rs. 2,50,000.
- Maximum sum assured 10,00,000 Rs.
Waiting Period in LIC Arogya Rakshak Plan
Like other policies, this policy also has a waiting period.
- There is no waiting period in this policy in case of an accident.
- The general waiting period is 90 days in this policy.
- There is a waiting period of 2 years for some specific diseases.
Riders available in Arogya Rakshak Plan
It means that you can avail of additional benefits by paying some extra premium.
There are 2 riders available in this plan –
- New Term Assurance Rider
- Accident Benefit Rider
There are 2 payment modes available under this policy.
- Half Yearly
LIC Arogya Rakshak Plan other Points
- The grace period in the Arogya Rakshak plan is 30 days.
- Surrender facility in this policy.
- There is no loan facility in the Arogya Rakshak plan.
- There is no death benefit in this policy “lic arogya rakshak plan”.
Things to note in Arogya Rakshak Policy
- There is a waiting period of 90 days from the day you have taken LIC Arogya Rakshak policy 906 and no benefit of the policy will be available in between.
- If the policy lapses and the policy are revived. Then the waiting period will be 45 days.
- A loan and surrender facility is not available in the LIC Arogya Rakshak policy.
- Maturity benefit is not available in this policy.
Includes 5 disease
- Hepatitis A Viral
- pulmonary TB
In the case of this disease, in addition to the hospital cash benefit, 2.5 times the benefit of IDB will be available. And its benefit is taken up to 2 times per year.