LIC Health Plus Plan
- Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
- Claim up to Rs. 1,50,000 deduction under section 80C**
- Choose between annual and monthly premium payment options
The LIC Health Plus Plan is a unit-linked product where the premium paid is subject to deduction of the Allocation charge. The policyholder can enjoy claim benefits according to the Policy Bond for self and his/her loved ones. The policy is tailored as per the needs and requirements of the customers. Benefits like HCB (Hospital Cash Benefit), MSB (Major Surgical Benefit) and DTB (Domiciliary Treatment Benefit) can be availed under the LIC Health Plus Plan.
Eligibility – Who is the LIC Health Plus Plan for?
In order to be eligible for the LIC Health Plus Plan, a customer has to fulfil certain eligibility criteria with respect to his/her age and the amount of insurance he/she seeks. These conditions are as shown below:
| Parameters | Criteria for Eligibility |
| Minimum age at entry |
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| Maximum age at entry |
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| Maximum age at the time of cover ceasing |
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| Term of the policy | 65 years (next birthday) of the policyholder minus entry age of policyholder |
Sum Assured and Premium Range – What you get and what it costs
Sum Assured – It is the amount that the policyholder gets upon maturity of the policy. In case of death of the insured person, the sum assured is paid to the beneficiary or nominee of the insured individual.
Premium – It is the amount that the policyholder pays in order to keep his/her plan active and running. Under the LIC Health Plus Plan, minimum premium amount is always in multiples of Rs.500. The minimum premium amount differs depending upon the number of lives insured under the plan. There is no limit on the maximum premium that can be paid under this policy. The premium payment modes that can be availed are yearly, half-yearly and monthly (ECS only).
| Premium payment modes | Yearly, half-yearly and monthly (ECS only) |
| Minimum premium |
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*Premiums may vary depending upon factors like term of the plan, location, age and applicable taxes/GST.
Plan Coverage – What the LIC Health Plus Plan covers
| Hospital Cash Benefits |
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| Major Surgical Benefits |
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| Domiciliary Treatment Benefit | The policyholder is allowed to withdraw an amount that is equal to the expense that he/she has sustained with respect to domiciliary treatment. |
The investment options available under the LIC Health Plus Plan are as follows:
| Type of the fund | Health Plus Fund |
| Investment in equity shares | More than 10% and less than 50% |
| Shorter investments like money market investments including Corporate Debt and Government Securities | Not above 90% |
| Corporate Debt or Government Guaranteed Securities | Not below 50% |
Riders / Add-On Plans – Additional coverage under the LIC Health Plus Plan
No rider plans or add-on plans are available under the LIC Health Plus Plan.
Exclusions – What the LIC Health Plus Plan does not cover
- Any pre-existing condition like symptoms, illnesses, surgery, pains, etc.
- Any sickness classified as epidemic.
- Sexually transmitted diseases or any other conditions associated with HIV.
- Invasion, war, rebellion, revolution, civil war, etc.
- Any natural calamity like earthquake, avalanche, etc.
- Participation of the policyholder in military or naval operations.
- Radioactive contamination.
Other Key Features
| Surrender | Surrender Value is payable after completing 3 policy years. Only the principal insured can surrender the policy. |
| Revival | The policy will lapse if the insurance premium is not paid within the grace period. It can be revived within a period of 2 years from the first unpaid premium date. |
Tax Benefits – How you can save under the LIC Health Plus Plan
Tax benefits can be availed under the prevailing tax laws with the LIC Health Plus Plan.
Why you should buy the LIC Health Plus Plan from the Life Insurance Corporation of India?
Life Insurance Corporation of India or LIC is one of the top insurance solution providers in India. Life Insurance Corporation of India has been catering to the insurance needs of people in India for a very long time. They have immense experience in offering suitable products to their customers. The claim settlement ratio of Life Insurance Corporation of India stands at 98%.
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