Thursday, April 19, 2012

LIC Jeevan Arogya

LIC Jeevan Arogya (Plan 903) Introduction

LIC Jeevan Arogya was launched by LIC India to provide timely assistance in times of medical exigencies and is a non-linked health insurance plan. Jeevan Arogya aims at making people financially independent when treating ailments during hospitalization, surgery, etc. and aims at a happier and healthier life. Jeevan Arogya LIC policy provides health risk coverage for certain specific ailments.

LIC Jeevan Arogya Policy Features

LIC Jeevan Arogyaprovides increasing health coverage every year. The details of LIC Jeevan Arogya policy show that you can choose the amount of initial daily benefit that you might need. This refers to the daily hospital cash benefit applicable in the first year. It might be as less as INR 1,000 per day to INR 4,000 per day. This value would then be paid to you daily in case you are hospitalized. Apart from this, the surgical benefit would be 100 times the initial daily benefit that was chosen. For example, for a sum of INR 1,000 chosen, the surgical benefit sum assured will be 1,00,000 and for INR 4,000 it will be 4,00,000. The minimum age of entry of you and your spouse should be not less than 18 and maximum should be 65. For the parents, the minimum should is 18 and maximum 75 and for the children minimum 91 days and maximum 17 years.

LIC Jeevan Arogya Premium Calculator

LIC Jeevan Arogya premium calculatorhelps you calculate the premium based on the level of cover you choose. LIC Jeevan Arogya premium will also depend on the age, gender, and the mode of premium payment. Premium needs to be paid from the day of entering into the policy till the day of exit. The amount of premium will vary depending on the age of the insured member and level of hospital cash benefit chosen. Even if two members insured under the same plan are of same age and has the same level of coverage, the premium for them can vary depending on whether the member is the principal insured or falls into the other insured member category. The premium once decided is guaranteed for 3 years from the commencement of policy and is reviewed every 3 years by the corporation and might be subjected to change with prior approval from IRDA. Once reviewed, the rate will remain stable for the next 3 years till the next automatic renewal date. The total premium is the sum total of the premiums of all the insured members. This policy does not have any maturity benefit. There is a grace period of one month for premium payment after which the policy shall lapse. Check Official website of for the LIC Jeevan Arogya Premium Calculator.

LIC Jeevan Arogya Benefits

LIC Jeevan Arogya review says that you get lump sum financial benefit that does not depend on the actual medical costs. It also provides flexibility in benefit limit to choose from. The premium payment options also show great flexibility. It could be monthly, yearly, half yearly, or quarterly. LIC Jeevan Arogya plan breathes relief into our lives in this age of ever increasing medical expenses. If you are the principal insured, then under the umbrella of the very same policy your spouse, children, parents, and parents of your spouse can be insured. In case of the death of the principal insured, the surviving spouse shall become the principal insured. In case of the prior demise of the spouse of the principal insured, the other insured can opt for a new policy and allow the current policy to terminate. Other benefits might extend from ambulance benefit, hospital room rent, medicines, various medical examinations and tests, oxygen and blood requirement during hospitalization to premium waiver benefit.

Log on to the official website of LIC India ( more details on LIC Jeevan Arogya hospital list, LIC Jeevan Arogya proposal form, and LIC Jeevan Arogya claim form. LIC Jeevan Arogya compared to other health insurance schemes has several favorable features but has certain definite limitations too. So whether LIC Jeevan Arogya policy is the best solution to your health risk coverage and whether you should go for this policy or not is highly debatable and needs thorough analysis.

Tags: Lic Jeevan Arogya, Jeevan Arogya, Jeevan Arogya Lic Policy, Jeevan Arogya Premium Calculator, Jeevan Arogya Review

No comments:

Post a Comment