LIC’s Arogya Rakshak Plan
Launched on July 19, 2021, the Arogya Rakshak (Plan No. 906, UIN No. 512N318V01) 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.
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.
Eligibility of Arogya Rakshak Plan
The eligibility conditions under Arogya Rakshak Plan is given in the table below:
|Minimum Entry Age|
Insured Adults: 18 years, Insured Spouse: 18 years
Insured Children: 91 days, Insured Parents: 18 years
|Minimum Age of Entry|
Insured Adults: 65 years, Insured Spouse: 65 years
Insured Children: 20 years, Insured Parents: 65 years
Up to 80 years for parents or spouse
Up to 25 years for children
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.
Benefits Of Arogya Rakshak Plan
Arogya Rakshak plan includes a plethora of benefits, the majority of which is listed below:
- 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:
- 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.
- 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.
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
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.
- 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.
To Buy Offline:
The customer also has an option to visit the nearest LIC branch or call the LIC agent to purchase LIC Arogya Rakshak Plan offline. Before investing in a plan, ensure that the plan meets your long term goals and covers for all your needs.
Frequently Asked Questions
Yes, the policy comes with a free-look period of 15 days which means that if the policyholder is not satisfied with the terms and conditions of the policy, he can return the policy within 15 days following the receipt of the policy and the plan will be terminated.
The general waiting period for LIC Arogya Rakshak Plan is 90 days from the effective date of cover.
The LIC Arogya Rakshak Plan comes with a grace period of 30 days which keeps the policy from being lapsed if the premium is paid within the next 30 days. The policy will lapse in the event of non-payment of premium in the next 30 days.
No, the policy does not cover the cost of dental examination or treatment.