December 19, 2011 by akhilendra
LIC’s Jeevan Arogya Review
LIC’s Jeevan Arogya is a health insurance plan. LIC has launched Jeevan Arogya targeting rapidly growing health insurance market in India. LIC being the biggest life insurance company in India is able to provide better services and claims to its customer. Jeevan Arogya is expected to be as good as other LIC products and its claim ratio is also going be as good as life insurance claim ratio.
LIC’s Jeevan Arogya Key feature
- Valuable financial protection in case of hospitalization, surgery etc
- Increasing Health cover every year
- Lump sum benefit irrespective of actual medical costs
- No claim benefit
- Flexible benefit limit to choose from
- Flexible premium payment options
Benefit & Benefit Illustration
The key benefits of LIC Jeevan Arogya are;
Hospital cash benefit (HCB)
Major Surgical Benefit (MSB)
Day Care Procedure Benefit
Other Surgical Benefit
Ambulance Benefit
Premium waiver Benefit (PWB)
i) For Hospital Cash Benefit (HCB) (under Basic Plan)
| Feature | Principal Insured (PI) | Insured Spouse (if any) & Insured Parents / Parents-in-law (if any) | Insured Dependent Children (if any) |
|
` 1,000/- | ` 1,000/- | ` 1,000/- |
|
` 4,000/- | Insured Spouse– Less than or equal to that of PI Insured Parents / Parents-in-law– Less than or equal to that of Insured Spouse (PI, if there is no Insured Spouse). Further, included parents / parents-in-law shall be covered for equal benefits. |
Less than or equal to that of Insured Spouse (PI, if there is no Insured Spouse). Further, included children shall be covered for equal benefits. |
|
30 days in year 1, 90 days per year thereafter, inclusive of stay in ICU. Maximum number of days in ICU is restricted to 15 days in year 1 and to 45 days thereafter. | ||
|
720 days inclusive of stay in ICU. Maximum number of days in ICU is restricted to 360 days | ||
Initial Daily Benefit shall be in multiples of ` 1000/-.
ii) For Major Surgical Benefit (MSB) (under Basic Plan)
| Feature | Principal Insured (PI) | Insured Spouse (if any) & Insured Parents / parents-in-law (if any) | Insured Dependent Children (if any) |
|
100 times of Applicable Daily Benefit (ADB) of PI (as specified in Para 1A) above). | Insured Spouse– 100 times of ADB of Insured Spouse Insured Parents / parents-in-law– 100 times of ADB of each parent |
100 times of ADB of each child |
|
100% of Major Surgical Benefit Sum Assured | ||
|
800% of Major Surgical Benefit Sum Assured | ||
iii) For Day Care Procedure Benefit (DCPB) (under Basic Plan)
| Feature | Principal Insured (PI) | Insured Spouse (if any) & Insured Parents / parents-in-law (if any) | Insured Dependent Children (if any) |
|
5 times of Applicable Daily Benefit (ADB) of PI | Insured Spouse– 5 times of ADB of Insured Spouse Insured Parents / parents-in-law– 5 times of ADB of each parent |
5 times of ADB of each child |
|
3 Surgical Procedures | ||
|
24 Surgical Procedures | ||
iv) For Other Surgical Benefit (OSB) (under Basic Plan)
| Feature | Principal Insured (PI) | Insured Spouse (if any) & Insured Parents / parents-in-law (if any) | Insured Dependent Children (if any) |
|
2 times of ADB of PI | Insured Spouse– 2 times of ADB of Insured Spouse Insured Parents / parents-in-law– 2 times of ADB of each parent |
2 times of ADB of each child |
|
15 days in first policy year and 45 days per year thereafter | ||
|
360 days | ||
Premium Illustration
PRINCIPAL INSURED (Male)
| Age at entry |
Premium (`) |
|
20 |
1922.65 |
|
30 |
2242.90 |
|
40 |
2799.70 |
|
50 |
3768.00 |
SPO– USE (Female) / PARENT (of PI/Spouse) (Female)
| Age at entry |
Premium (`) |
|
20 |
1393.15 |
|
30 |
1730.65 |
|
40 |
2240.60 |
|
50 |
2849.10 |
CHILD
| Age at entry |
Premium (`) |
|
0 |
792.00 |
|
5 |
794.75 |
|
10 |
812.35 |
|
15 |
870.75 |
Who can be insured?
You (as Principal Insured (PI)), your spouse, your children, your parents and parents of your spouse can all be insured under one policy. Quite a relief isn’t it, to have all insured under one policy!
The minimum and maximum age at entry is as under:
| Minimum age at entry | Maximum age at entry | |
| Self / spouse | 18 years | 65 years (last birthday) |
| Parents / parents-in-law | 18 years | 75 (last birthday) |
| Children | 91 days | 17 years (last birthday) |
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