LIC Health Plans

Life Insurance Corporation of India (LIC) Health Insurance Plans

Health insurance plans offers policyholders coverage against expenses that they might have to incur as a result of a planned or unplanned hospitalisation. In addition, health insurance policies provide a range of other benefits, such as a cover against pre- and post-hospitalisation expenses, ambulances charges, a no-claim bonus, etc. The Life Insurance Corporation of India (LIC), a company which primarily provides life insurance solutions to Indian citizens, also offers customers a selection of health insurance plans.

Benefits of Life Insurance Corporation of India (LIC) Health Insurance Plans

• Choice of Health Insurance Plans: LIC offers customers a general health insurance plan that provides financial protection in case of a surgery, hospitalisation, or medical treatment, and a cancer cover, which provides financial protection to the policyholder in case he/she is diagnosed with any stage of cancer.
• No Claim Benefit: If the policyholder does not make any claim during the policy year, the insurer will pay a no-claim benefit to the policyholder.
• Flexible Premium Payment options: The insurer also offers flexible premium payment options to their policyholders. Thus, one can pay their premiums on an annual or bi-annual basis, as per their convenience.
• Option to purchase Riders: Along with the purchase of the base policy, you can also purchase riders such as the LIC New Term Assurance Rider and the LIC Accident Benefit Rider to enhance the coverage of your policy.

*Note: This is not applicable to all plans.

• Tax Rebate: All premiums that you pay towards your policy are eligible for tax benefits under Section 80D of the Income Tax Act, 1961.

List of Health Insurance Plans provided by Life Insurance Corporation of India (LIC)

1.LIC’s Jeevan Arogya Plan

The Jeevan Arogya Plan from LIC is a non-linked, non-participating, health insurance plan which provides policyholders a health cover against specific health risks and medical emergencies. Policy buyers can insurer themselves, their spouse, children, parents and parents-in-law, under this policy. The plan provides a wide range of benefits to policyholders including an annually increasing health cover, payment of a lump sum benefit, flexible premium payment options, and varying benefit limits to choose from.

Benefits and Features of LIC’s Jeevan Arogya Plan

• Hospital Cash Benefit: If the policyholder is hospitalised due to an accident or illness for a period of 24 hours, the Applicable Daily Benefit (ADB) will be paid to the policyholder.
• Major Surgical Benefit: If the policyholder undergoes any surgery that is specified in the Major Surgical Benefit Annexure, a certain percentage of the Major Surgical Benefit Sum Assured will be paid to the policyholder.
• Day Care Procedure Benefit: If the policyholder undergoes a day care treatment or procedure, which is mentioned in the Day Care Procedure Benefit Annexure, a sum of money which will amount to 5 times the Applicable Daily Benefit will be paid to the policyholder as a lump sum amount.
• Other Surgical Benefit: If the insured individual undergoes surgery for a period over 24 hours, provided the surgery is not specified in the Major Surgical Benefit Annexure and the Day Care Procedure Benefit Annexure, an amount equal to 2 times the Applicable Daily Benefit will be paid for every 24-hour period that the policyholder is hospitalised.
• Ambulance Benefit: Under certain conditions, the policyholder can claim an additional sum of Rs.1,000 for ambulance charges that he/she may have incurred.
• Premium Waiver Benefit: If the policyholder has been paid a Major Surgical Benefit, which falls under Category 1 or 2, the total annualised premium will be waived off by the insurer.
• Riders: Policyholders have the option to purchase additional riders along with this plan to enhance the level of protection accorded by the base policy.
• Rebate: Policyholders can avail a rebate on their premium if they choose the yearly or half-yearly mode of premium payment. An additional rebate can be availed if the Hospital Cash Benefit is over Rs.1,000.

Plan Name	Entry Age	Maturity Age	Premium
LIC’s Jeevan Arogya Plan	18 Years – 50 Years	60 Years	Varies based on sum insured, number of members covered, age at entry, medical history, etc.

2.LIC’s Cancer Cover

The Cancer Cover from LIC is a non-participating, non-linked, health insurance plan that provides policyholders financial protection in case they happen to get diagnosed with Early/Major Stage Cancer, any time during the policy tenure. This particular plan can be purchased through online and offline channels.

Features and Benefits of LIC’s Cancer Cover

• Option to choose the type of Sum Insured: Policyholders can choose their preferred sum insured type. Thus, you can either opt for a Level Sum Insured, wherein the sum insured will remain constant throughout the policy tenure, or the Increasing Sum Insured, in which the sum insured will increase by 10% each year, during the first five policy years.
• Covers Early Stage Cancer: Upon diagnosis of Early Stage Cancer, the insurer will pay 25% of the sum insured amount as a lump sum benefit. Further, premiums for the following 3 years or the remainder of the policy tenure (based on whichever is the lesser of the two), will be waived off.
• Covers Major Stage Cancer: Upon diagnosis of Major Stage Cancer, 100% of the sum insured will be paid to the policyholder. The insurer will also pay an Income Benefit amounting to 1% of the sum insured amount for each month, for a period of 10 years, regardless of whether the policyholder survives or not. Further, all future premiums will also be waived off by the insurer.
• Waiting Period: A waiting period of 180 days is applicable. Any claim/diagnosis that is made during this 180-day waiting period will not be honoured by the insurer.
• Survival Period: This policy comes with a 7-day survival period, wherein if the policyholder passes away within 7 days of purchasing the policy/commencement of the risk cover, no benefit shall be paid.
• Policy Tenure: Policyholders can opt for any policy tenure between 10 and 30 years.
• Sum Insured: Policyholders can opt for an optimum sum insured between Rs.10 lakh and Rs.50 lakh.

Plan Name	Entry Age	Maturity Age	Premium
LIC’s Cancer Cover	20 Years – 65 Years	50 – 75 Years	Varies based on sum insured, age at entry, policy tenure, medical history, etc.

Why should one opt for an LIC Health Insurance Plan?

Rising healthcare costs are a concern for all, especially in the event of an emergency hospitalisation. One way to safeguard yourself from such unplanned expenses is to purchase a comprehensive health insurance policy that will keep your out-of-pocket expenses to a minimum. In addition, health insurance plans also help you save on tax deductions, as the premiums you pay towards your policy are eligible for tax benefits under Section 80D of the Income Tax Act, 1961.

With regards to the insurer, LIC is one of the most preferred insurance firms in the country. The company, which was nationalised in the year 1956, has branches across the country. In order to cater to the demands of their ever-growing consumer base, the insurer also has a plethora of customer care channels, making it easy for customers to reach them.