Arogya Rakshak (Plan-906)- New Well being Insurance coverage plan from LIC

LIC‘s Arogya Rakshak – Plan No 906 – is a Common Premium fastened profit medical insurance plan which may help you financially to tide over the tough conditions arising from hospitalization and numerous surgical procedures. The primary level to recollect is that the advantages offered are impartial of the particular bills incurred for the therapy. Truly, the brand new plan is an improved model of LIC’s Jeevan Arogya with enhanced protection and extra advantages to boast off.

A person can take protection for himself/herself on this plan and will likely be addressed as Principal Insured (PI). Principal insured can add partner, kids, or mother and father to the plan on the time of becoming a member of.

Main advantages of Arogya Rakshak – plan 906

Eligibility circumstances and restrictions

Allow us to have an in depth take a look at the profit sample and the important thing options of the plan.

Hospital Money Profit (HCB) – Arogya Rakshak

Within the occasion of hospitalization, ensuing from a bodily harm or illness occurring throughout the protection interval, and exceeding a minimal interval of 24 hours, Hospital Money Profit (HCB) will grow to be payable. Interval exceeding 24 hours will likely be reckoned as in the future if the interval exceeds by at the very least 4 hours.

• Hospitalization in Normal or Particular ward – Relevant day by day advantages in a coverage 12 months for every accomplished 24 hours and the half exceeding 4 hours as talked about above will grow to be payable.
• Hospitalization in Intensive Care Unit – Two instances the Relevant Every day Profit in a coverage 12 months as detailed above shall grow to be payable.
• Mixed keep in Non ICU and ICU – Quantity will likely be paid as per the times admitted in every unit.

Particular circumstances and restrictions

• Hospital Money profit (HCB) applies provided that hospitalization happens in India
• Complete variety of days of HCB payable within the first coverage 12 months is restricted to 30 days.
• Complete variety of days of HCB payable in subsequent coverage yeas is restricted to 90 days.
• Complete variety of days of HCB payable in your complete coverage time period can’t exceed 900 days

Main Surgical Profit (MSB) – Arogya Rakshak

If an insured member undergoes a surgical procedure specified within the listing offered, throughout the coverage interval and arising attributable to a situation that occurred throughout the protection interval, a portion of the Main surgical profit (100 instances of HCB) shall grow to be payable. The proportion of the advantages payable varies relying on the class of the surgical procedure as talked about within the listing offered here. You’ll be able to view or download the list of surgeries covered under Major Surgical Benefit under LIC’s Arogya Rakshak plan by clicking on the hyperlink offered.

Particular circumstances and restrictions

• Surgical procedure must be carried out in India.
• If multiple surgical procedure is carried out on the insured throughout the identical surgical session, quantity allowed for probably the most extreme surgical procedure shall be paid.
• Complete MSB payable in any coverage 12 months can’t exeed 100 % of the Main Surgical Profit relevant for that coverage 12 months.
• Complete MSB paid in your complete coverage interval can’t exceed 1000 % of MSB for any insured member.
• All surgical procedures claimed must be confirmed as important and required by a certified doctor or a surgeon to the satisfaction of the company.

Along with the surgical advantages, another further advantages can be found beneath the Main Surgical Advantages.

• Ambulance Profit – An extra lumpsum cost of Rs.1000 shall be paid if transportation by ambulance grow to be essential.
• Premium Waiver Profit – Within the occasion {that a} Main Surgical Profit falling beneath class 1 or Class 2 (as talked about within the MSB List) is payable in respect of any insured, the whole annualized premium following the declare will likely be waived. Even when multiple surgical procedure is carried out in a 12 months, one annualized premium solely will likely be waived.
• Main Surgical Profit Restoration – Within the occasion of Main Surgical Profit Sum Assured is exhausted in a coverage 12 months, further main surgical profit could also be avaible if the second MSB surgical procedure is from a distinct class or process and the following declare doesn’t come up from or because of the earlier declare.

Day Care Process – Arogya Rakshak

Within the occasion of an insured, attributable to medical necessity present process any specified Day Care Process as talked about within the Arogya Rakshak – Daycare procedure benefit annexure, throughout the coverage time period, a lumpsum quantity equal to 5 instances Relevant Every day Money profit shall grow to be payable.

• Day care profit shall be paid provided that the process is carried out in India.
• Most DCP allowed in any coverage 12 months for a selected insured member can’t exceed three.
• Most DCP allowed in your complete coverage time period for a prticular insured member can’t exceed thirty.

Different Surgical Profit – Arogya Rakshak

Within the occasion of an insured present process throughout the cowl interval, any surgical procedure not listed beneath the Main Surgical Profit or Day Care Process Profit, a day by day profit equal to 2.5 instances the Relevant Every day Profit shall be payable. Different surgical advantages shall be paid provided that inpatient hospitalization keep exceeds 24 hours.

• The whole variety of days of hospitalization for which the Different Surgical Profit is payable throughout the first coverage 12 months in respect of every insured member can’t exceed 15 days and for subsequent years, 45 days.
• Complete variety of days of hospitalization in your complete coverage time period can’t exceed 450 days for a selected insured member.

Medical Administration Profit

Within the occasion of an insured present process inpatient hospitalization throughout the cowl interval attributable to any of the next ailments,

1. Dengue
2. Malaria
3. Pneumonia
4. pulmonary tuberculosis
5. Viral Hepatitis A

A lump sum of 2.5 instances of relevant day by day profit shall be payable.

Prolonged Hospitalization Profit

Within the occasion of an insured present process a single interval of steady inpatient hospitalization, in extra of 30 days, throughout the cowl interval attributable to unintentional bodily harm or illness, a lump sum of 10 instances the relevant day by day profit shall be paid along with different advantages. In respect of every insured, the prolonged hospitalization profit shall be payable solely as soon as in a coverage 12 months. The whole declare in your complete coverage time period is proscribed to 10 claims per insured individual.

Different Advantages

Auto Step Up Profit

An quantity equal to 15% of the Preliminary Every day Profit shall be added to the Relevant Every day Good thing about the earlier coverage 12 months on the finish of each third coverage anniversary throughout the Cowl Interval and shall proceed to be added till Relevant Every day Profit attains a most quantity of 1.5 instances the Preliminary Every day Profit.

In case of all of the insured(s) lined beneath the coverage be part of on the inception of the coverage, the date on which Auto Step Up Profit is effected in respect of every member stands out as the similar but when the members joined at a distinct level of time, the third coverage anniversaries will likely be taken in respective circumstances.

No Declare Profit

Within the occasion of each three claim-free coverage years, in an Arogya Rakshak coverage, an quantity equal to 5 % of the preliminary day by day money profit shall be added to the Relevant Every day Money Profit on the finish of the third claim-free coverage 12 months. The purpose to recollect is that claim-free coverage years are taken contemplating the coverage as an entire.

Well being Examine-up Profit

An quantity equal to the precise bills incurred however not exceeding half of Relevant Every day Profit shall be payable in respect of every insured in direction of well being check-up bills as soon as in each three coverage years, offered he/she undergoes Well being Examine-up and shares a replica of the medical report and the medical payments.

Auto Well being Cowl(AHC) Profit

In case of the demise of the Authentic Principal insured, the coverage shall proceed with new PI together with different eligible surviving insured(s) lined beneath the coverage, with none cost of premium from the coverage anniversary coinciding with or subsequent following the date of demise of the Principal Insured, for an extra interval fo 15 years or as much as specified age in respect of every of the insured(s) whichever is earlier. offered they’re eligible for this AHC profit.

The interval of AHC profit shall be relevant in respect of every eligible member for the interval as talked about beneath.

• For Insured Kids: AHC interval shall be a interval of 15 years or until the coverage anniversary on which the insured youngster is 25 years, which ever is earlier.
• For Insured Partner /Insured Mother and father: AHC Interval shall be a interval of 15 years or until the coverage anniversary on which the age of the insured Partner/Mother and father is 70 Years, which ever is earlier.

Observe: AHC profit won’t be relevant if the PI commits suicide inside any time inside 12 months from the Efficient date of Cowl or inside 12 months from the date of revival.

Arogya Rakshak (Plan 906) Premium and Profit calculator

You'll be able to learn extra on methods to calculate the premium and benefits of the Arogya Rakshak plan utilizing the premium and profit calculator by clicking on this hyperlink.





Anish L J is a ‘Monetary Planner’ and member of Chartered Insurance coverage Institute(CII), London and Insurance coverage Institute of India. He's additionally a finance, insurance coverage and software program guide. He totally follows the developments in finance, insurance coverage, and different associated sectors.