Arogya Rakshak (Plan No. 906)Launched on July 19, 2021, the Arogya Rakshak (Plan No. 906)is a new addition to the list of non-linked, non-participating healthcare plans under LIC. The LIC Arogya Rakshak is plan number 906 with a Unique Identification Number 512N318V01 under the umbrella of health insurance plans offered by LIC. The plan is a unique benefit-based health insurance policy that provides a comprehensive cover against certain specified health risks. The plan covers the insured in times of medical emergencies and helps them remain financially covered in dire straits.
The Arogya
Rakshak Plan is different from other all-inclusive health insurance plans in
context to the reimbursement method. While other health insurance policies
reimburse the expenditure on medical treatment and hospitalization up to the
sum assured, the LIC Arogya Rakshak plan works in order to pay a lump sum
benefit equal to the sum insured, irrespective of the actual medical cost. The
plan is an individual health insurance plan that comes with regular premium
payment methods. The various key features of the LIC Arogya Rakshak Plan are
mentioned in the points below.
Key Features
The LIC Arogya
Rakshak Plan is stacked with myriad key features and benefits. Some of the
major benefits of the plan are listed down below:
- Hospitalization and Major Surgery benefit
The plan pays
off in the event of hospitalization of the insured and/ or for major surgeries.
Hospitalization benefit entails hospitalization of the insured for a continuous
period of 24 hours. On the other hand, Major Surgery benefit is payable in the
event of the insured undergoing any specified surgery as mentioned in the Major
Surgical Benefit Annex.
- Day Care Benefit
Under the LIC
Arogya Rakshak plan, the expenses incurred towards Day Care Procedures are
covered and shall be payable irrespective of the actual cost incurred.
- In-patient Hospitalization Benefits Exceeding 30
Days
Under the
circumstance that the insured undergoes a single continuous period of
hospitalization for 30 days straight, the Arogya Rakshak plan pays an extended
hospitalization benefit irrespective of the actual cost incurred.
- Reward for Claim-Free Years
The unique
individual health-insurance plan rewards you at the completion of every three
claim free policy years.
- Rider Benefits
There are two
rider benefits available under this plan: The New Term Assurance Rider and the
Accidental Insurance Rider Benefit. These benefits are available on the payment
of additional premium.
- Tax Saving on Premium Amounts
The premium on
this plan is eligible from tax deduction under Section 80C.
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Minimum Entry Age |
Insured Adults: 18 years, Insured Spouse: 18 years Insured
Children: 91 days, Insured Parents: 18 years
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Minimum Age of Entry |
Insured Adults: 65 years, Insured Spouse: 65 years Insured
Children: 20 years, Insured Parents: 65 years |
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Cover Period |
Up to 80 years for parents or spouse Up to 25
years for children
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Sum Assured |
Minimum: Rs 2,500 for self, spouse, dependent children and
parents Maximum:
10,000 for self with equal or higher coverage available for spouse and
dependent children and parents.
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Benefits Of Arogya
Rakshak Plan
Arogya Rakshak plan includes a
plethora of benefits, the majority of which is listed below:
Core Benefits:
- Hospital Cash Benefit
The injured is entitled to Hospital
Cash Benefit in the event of sickness or accidental bodily injury causing the
injured to opt for in-patient hospitalization services exceeding the period of
24 hours on or after the effective date of cover or during the cover period.
However, benefits will be paid from hemodialysis and radiotherapy even if the
stay in hospital is less than 24 hours. The insured will receive Daily Benefit
in the case of:
- Hospitalization
in general or special ward.
- Hospitalization
in Intensive Care Unit of a hospital
- Combined
stay in non-ICU and ICU ward room.
The total number of days for which the
benefit will be payable is limited to:
- A maximum of
30 days of hospitalization inclusive of stay in an Intensive Care Unit in
the first policy year
- A maximum of
90 days of hospitalization, including stay in an Intensive Care Unit, in
the second and subsequent policy year.
The benefit will be payable for a
total number of 900 days of hospitalization, including the days in the
Intensive Care Unit. On the completion of 900 days of hospitalization, the
mentioned benefit will cease to exist immediately.
- Major Surgical Benefits
If the insured meets with accidental
bodily injury or sickness as a result of which he has to undergo any specific
surgery, the LIC Arogya Rakshak plan pays off the Major Surgical Benefit. The
sum assured for the benefit is equal to 100 times the applicable daily benefit
for each insured in each policy year.
The following benefits are available
under Major Surgical Benefits:
- Ambulance
benefit, an additional lump sum of Rs 1,000
- Premium
waiver benefit, where the total annualized premium will be waived if any
Major Surgical Benefit falls under Category 1 or 2
- In the event
that 100% Major Surgical Benefit is exhausted in a policy year, the next
Major Surgical Benefit in that policy year will be covered.
The plan will pay 100% of the eligible
amount as per the category in case of the most severe surgery performed and 25%
of the amount in case of other surgeries.
- Day Care Procedure Benefits
In case the insured undergoes any
specific Day Care Procedure due to injury or sickness on or after the effective
date of cover, the Day Care Procedures which equal to 5 times the daily benefit
will be payable.
- Other Surgical Benefits
In case the insurer undergoes a
surgery which is not included under Major Surgical Benefits or Day Care
Procedure Benefits owing to bodily injury or sickness, it will be covered under
Other Surgical Benefits and the insured will be entitled to 2.5 times the
applicable daily benefit.
Other surgical benefits will not
exceed a lifetime maximum limit of 450 days.
- Medical Management Benefit
In the event that the insured
undergoes in-patient hospitalization during the cover period with certain major
medical conditions manifesting itself on or after the effective date of cover,
then the insured will be eligible to receive 2.5 times the applicable daily
benefit. The list of major medical conditions covered under the benefit are as
follows:
- Malaria
- Dengue
- Pneumonia
- Viral
Hepatitis A
- Pulmonary
Tuberculosis
The medical management benefit shall
be payable 2 times in each policy year and a lifetime maximum of 20
times.
- Extended Hospitalization Benefit
Extended Hospitalization Benefits are
payable when the insured undergoes a single period of continuous
hospitalization extending a period of 30 days. In such an event, a lump sum of
10 times of the applicable daily benefit is payable irrespective of the actual
cost incurred.
The extended hospitalization benefit
will be payable up to a maximum of 1 time in each policy year during the cover
period. The maximum lifetime limit to receive extended hospitalization benefit
is 10 times.
Other Benefits:
- Health Check-up Benefits
Health Check-up Benefits provides the
insured with one-half of applicable daily benefit towards expenses incurred
against health check-up once in every three policy years.
- Death Benefit under the Base Policy
In the event of the death of a principal
insured, Auto Health Cover (AHC) will be available to each of the eligible
insureds. The cover shall continue without any premium payments. The
eligibility for each individual insureds is given below:
- For insured
children, the AHC will continue until they reach the age of 25 years or 15
years after the death of the principal insured, whichever is
earlier.
- For insured
parents/ spouse, the AHC benefit will be available for 15 years or till
policy anniversary coinciding with the age of 70 years, whichever is
earlier.
Rider Benefits:
LIC Arogya Rakshak Plan offers two
rider benefits for additional premium. These two rider benefits are:
- LIC’s New Term Assurance Rider
The Term Assurance Rider on LIC Arogya
Rakshak Plan is available on the life of the Original Principal Insured and/ or
Insured Spouse.
- LIC’s Accident Benefit Rider
LIC’s Accident Benefit Rider can be
opted for provided that the New Term Assurance Rider has been opted for. The
maximum Accident Benefit Rider sum insured is equal to the New Term Assurance
Rider sum insured.
Exclusions of Arogya Rakshak Plan
The Arogya Rakshak Plan comes with a
handful of exclusions wherein a claim cannot be made. These exclusions are as
follows:
- Criminal and
illegal acts
- Attempted
suicide or self-inflicted injuries.
- Natural
calamities like floor, earthquake etc.
- Injury due
to war, participation in riots or military or naval operations.
- Congenial
conditions
- Abuse of
drugs, alcohol and intoxicants
- Treatment
for STDs like HIV AIDS
Policy Termination
The LIC Arogya Rakshak document
mentions terms and conditions for the termination of policy. The terms are
mentioned below in the case that the insurance covers single life and more than
one life.
In case of a Single Life Cover, the
policy shall terminate in the earliest of the following:
- Non-payment
of premiums within the revival period.
- On grounds
of misrepresentation, fraud, non-cooperation and non-disclosure.
- Death
- On expiry of
cover under the base policy
- In case the
policyholder cancels the policy after the free-look period.
- On the
exhaustion of all lifetime maximum benefit limits.
How To Purchase LIC Arogya Rakshak Plan?
The LIC Arogya Rakshak Plan is
available both online and offline. Follow the steps laid down below to purchase
the policy through the method that best suits your convenience.
To
apply Online:
- Visit the
official website of LIC and scroll down to find ‘Buy Online Policies’. Tap
on ‘Click Here’.
- Among all
the policies, you will be able to see ‘Arogya Rakshak’. Tap on ‘Click Here
To Buy’.
- Click on
‘Health Plans’ to find the policy. Click on ‘Buy Online’ under LIC’s Arogya
Rakshak.
- Once you tap
on ‘Click To Buy Online’, you will be asked to fill out some information
related to COVID and contact details.
- You’ll be
required to enter the OTP shared on your mobile number. Once that’s done,
fill out the required details (personal and product) and click on
‘Calculate Premium’.
- Pay the premium and the policy is yours to take home.
How To Purchase LIC’s Arogya Rakshak Plan?
Since the plan is not available for online purchase on the GIP website, you can buy it via an offline method. You can visit to an office and the customer representative present there will assist you in buying the plan. Make sure to bring all your necessary documents to make your purchase seamless and convenient. You can also make a call to the company’s customer care number to ensure you bring the relevant documents to our office.
Thank You,
Team
(Growmore Insurance Point)
Team
(Growmore Insurance Point)