LIC’s Arogya Rakshak (Plan No. 906, UIN : 512N318V01)

Date of Launch : 19.07.2021

Last modified date : 14/9/2023

LIC introduced Arogya Rakshak, a health insurance plan that provides a set lump sum when the policyholder undergoes hospitalization or surgery. It also offers a fixed insurance coverage for specific diseases. This plan ensures prompt medical assistance for the insured and their family during medical emergencies, easing the financial burden.

Main features and benefits of the LIC Arogya Rakshak health insurance plan:

• Offers a choice of flexible benefit limits for the policyholder to select from.
• Provides coverage against specific illnesses as outlined in the policy.
• Guarantees a predetermined lump sum payout at the time of claim, regardless of actual expenses incurred.
• Available as both individual and family floater policies.
• Offers flexibility in premium payment options.
• Covers spouses, children, and parents under the policy.
• Adults aged 18-65 years and children aged 91 days to 20 years can be covered.
• Coverage extends up to 80 years for principal insured, spouses, and parents, and up to 25 years for children.

Key Points

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The LIC Arogya Rakshak Plan-offers several key benefits:

1. Hospitalization and Major Surgery Coverage: The plan covers expenses if you’re hospitalized for 24 hours or more, or if you undergo specified major surgeries.
2. Day Care Benefit: It covers costs for day care procedures, regardless of the actual expenses.
3. Extended Hospitalization Benefit: If you’re hospitalized continuously for 30 days or more, you receive additional benefits.
4. Reward for Claim-Free Years: You get rewards every three years if you haven’t made any claims.
5. Rider Benefits: Optional riders like New Term Assurance and Accidental Insurance are available for extra coverage with an additional premium.
6. Tax Benefits: The premiums you pay qualify for tax deductions under Section 80C of the Income Tax Act.

Core Benefits:

1. Hospital Cash Benefit: If you’re hospitalized for more than 24 hours due to illness or injury, you receive a daily cash benefit. This covers stays in general or special wards, intensive care units (ICU), or combined ward stays. Limits are set to 30 days in the first policy year and 90 days thereafter, up to a total of 900 days.
2. Major Surgical Benefits: If you undergo specified surgeries due to illness or injury, you receive a benefit equal to 100 times the daily cash benefit. Additional benefits include Rs 1,000 for ambulance services and premium waiver for certain surgeries.
3. Day Care Procedure Benefits: Covers expenses for specific procedures that don’t require overnight hospitalization, equivalent to 5 times the daily cash benefit.
4. Other Surgical Benefits: Covers surgeries not classified under major or day care benefits, providing 2.5 times the daily cash benefit, up to a lifetime maximum of 450 days.
5. Medical Management Benefit: For specific medical conditions like malaria or pneumonia requiring hospitalization, you receive 2.5 times the daily cash benefit, up to 20 times in a lifetime.
6. Extended Hospitalization Benefit: If hospitalized continuously for 30 days, you receive a lump sum equal to 10 times the daily cash benefit, once per policy year and up to 10 times in total.

Other Benefits:

• Health Check-up Benefits: Provides half of the daily cash benefit for health check-ups once every three policy years.
• Death Benefit under Base Policy: In case of the principal insured’s death, coverage continues for eligible family members without further premium payments.

Rider Benefits (Optional for Additional Premium):

• LIC’s New Term Assurance Rider: Provides additional life insurance coverage for the principal insured and/or spouse.
• LIC’s Accident Benefit Rider: Offers additional coverage against accidents, with the sum insured matching that of the New Term Assurance Rider if opted for.

These benefits ensure comprehensive coverage for medical expenses and additional protection through optional riders, tailored to meet different insurance needs.

Policy Termination

For Single Life Cover:

1. Non-payment of premiums: If premiums are not paid within the revival period.
2. Misrepresentation, fraud, non-cooperation, or non-disclosure: If the policyholder is found guilty of these actions.
3. Death: The policy ends upon the death of the insured person.
4. Expiry of coverage: When the coverage period specified in the policy ends.
5. Cancellation after the free-look period: If the policyholder chooses to cancel the policy after the initial review period.
6. Exhaustion of maximum benefit limits: When all maximum benefits allowed under the policy have been used up.

HOW TO APPLY ONLINE FOR LIC’s Arogya Rakshak Plan

To apply Online:

1. Visit the official LIC website.
2. Scroll down to find the section labeled ‘Buy Online Policies’ and click on ‘Click Here’.
3. Look for ‘Arogya Rakshak’ among the list of policies and click on ‘Click Here To Buy’.
4. Navigate to the ‘Health Plans’ section and select ‘Buy Online’ under LIC’s Arogya Rakshak.
5. Click on ‘Click To Buy Online’ and proceed to fill in information related to COVID and your contact details.
6. Enter the OTP for verification.
7. Fill out all required personal and product details, then click on ‘Calculate Premium’.
8. Pay the premium amount online.

To Buy Offline:

1. You can visit your nearest LIC branch or contact an LIC agent.
2. Discuss your interest in purchasing the LIC Arogya Rakshak Plan.
3. Ensure that the plan aligns with your long-term goals and provides coverage for all your needs.
4. Complete the necessary paperwork and pay the premium through the LIC branch or agent.

Before making a decision, it’s important to understand the plan thoroughly to ensure it meets your insurance requirements effectively.

Policy Document  

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Customer Information Sheet  

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Sales Brochure  

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DISCLAIMER : This blog is solely for providing updates and helping you understand policy changes easily. However, we are not responsible for any misinformation. For accurate information, please visit the official page.