LIC’s Jeevan Arogya Review

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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. Minimum Initial Daily Benefit (in a ward other than Intensive Care Unit)
` 1,000/- ` 1,000/- ` 1,000/-
  1. Maximum initial daily amount
` 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.
  1. Maximum annual benefit period, applicable to each insured
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.
  1. Maximum Lifetime Benefit period, applicable to each insured
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)
  1. Major Surgical Benefit Sum Assured (MSB SA)
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
  1. Maximum annual benefit, applicable to each insured
100% of Major  Surgical Benefit Sum Assured
  1. Maximum Lifetime Benefit, applicable to each insured
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)
  1. Lump sum benefit payable
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
  1. Maximum annual benefit, applicable to each insured
3 Surgical Procedures
  1. Maximum Lifetime Benefit, applicable to each insured
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)
  1. Daily benefit amount
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
  1. Maximum annual benefit, applicable to each insured
15 days in first policy year and 45 days per year thereafter
  1. Maximum Lifetime Benefit, applicable to each insured
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)

 

Lic’s New Bima GOLD

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