Although people begin realizing the significance of medical health insurance however nonetheless they’re extra confused with variety of merchandise out there out there. Beforehand there have been solely normal insurance coverage corporations that present this insurance coverage, then got here standalone medical health insurance corporations and now life insurance coverage corporations has additionally began promoting medical health insurance. This confusion is clearly seen amongst individuals as, at any time when any new plan is launched out there individuals will get excited and begins enquiring about the identical.
Who could be insured underneath LIC Jeevan Arogya ? –
Underneath a single coverage you possibly can cowl your full household (which incorporates you, your partner and youngsters), your mother and father and your mother and father -in-law.The minimal and most age at entry for the self / partner / mother and father /parents-in-law is 18 years and 65 years respectively and for kids it’s 91 days and 71 years respectively.
Options & advantages of LIC Jeevan Arogya
1. LIC Jeevan Arogya is an outlined profit, non linked plan the place the advantages are mounted and shall be payable to you in full, irrespective of the particular quantity spent on remedy.
2. It covers the Hospital Money Profit (HCB) which signifies that you can be paid an outlined quantity for the variety of days you might have stayed within the hospital. There are four variants out there underneath this characteristic. Rs 1000 per day, Rs 2000 per day, Rs 3000 per day and Rs 4000/- per day. Your premium and different options and sum assured shall be depending on the variant you might have chosen underneath HCB.
three. Jeevan Arogya covers some 140 outlined main surgical procedures. In case you get operated for any surgical procedure as outlined underneath this coverage characteristic you can be paid lump sum quantity which is the same as 100 occasions the HCB chosen. Which signifies that if in case you have chosen a plan of Rs 2000/- per day HCB then your Sum assured underneath Main Surgical Profit (MSB) characteristic can be Rs 2 lakh. And this quantity shall be paid to you no matter your precise expenditure on the process.
four. There’s some 140 day care procedures outlined underneath this plan. If you happen to get operated underneath that particular process than you can be paid 5 occasions of HCB plan you might have chosen. Which implies if in case you have chosen a plan of Rs 2000/- per day HCB then your sum assured underneath day care Remedy characteristic can be Rs 10000/-. And this quantity shall be paid to you no matter your precise expenditure on the process.
5. Within the occasion of an Insured underneath this plan, present process any surgical procedure not listed underneath MSB or day care remedy inflicting the insured hospitalization to exceed a steady interval of 24 hrs throughout the cowl interval, then a every day profit equal to 2 occasions the HCB shall be paid for every steady interval of 24 hrs.
Particular Options of LIC Jeevan Arogya
1. Double profit: If on account of medical issues affected person has to confess to ICU then he turns into eligible to say 2 occasions of HCB as per the plan.
2. Protection for all: You’ll be able to cowl your Mother and father and Mother and father-in-law underneath the identical single coverage together with you, your partner and youngsters.
three. Fast Money Facility: Although this can be a Reimbursement coverage which signifies that it’s a must to make declare of the coverage advantages after getting the remedy finished. However in particular surgical procedures lined underneath MSB, insured can declare 50% of the Sum assured which can be paid throughout hospitalization interval. This quantity shall be adjusted within the last settlement.
four. Premium Waiver profit: In case the process operated underneath particular classes outlined underneath the MSB then one 12 months premium shall be waived.
5. Riders: There are 2 extra riders provided underneath the policy- Time period assurance rider underneath which the utmost sum assured provided is 100 occasions of HCB and Accident profit rider the place the sum assured provided needs to be lower than or equal to Sum assured underneath Time period assurance rider.
Limitations of Jeevan Arogya
On this we have not lined the fundamental and normal limitations and exclusions which are relevant to nearly all of the Well being Insurance coverage coverage. However particular limitations as is there within the options of the coverage.
1. There’s annual and Lifetime restrict imposed on the Every day money profit characteristic in LIC Jeevan Arogya. Within the first 12 months one can’t declare for greater than 30 days in case of Non ICU keep and for ICU keep the LIMIT is 15 days. Second 12 months onwards this restrict shall be elevated to 90 days for Non ICU keep and 45 days for ICU keep. In lifetime you possibly can declare most of 720 days in case of Non ICU keep and 360 days in case of ICU keep.
2. In Main Surgical Profit you possibly can declare solely as soon as in a single 12 months and eight occasions in lifetime.
three. In day care Procedures you possibly can declare most for three procedures in a 12 months and restrict is 24 for lifetime. Additionally, it is not paid if you happen to declare for Hospital Money Profit
four. For Time period assurance rider your Complete Sum assured from different insurance policies and riders shouldn’t exceed 25 lakh.
5. For unintended Rider your whole sum assured underneath all different particular person and group insurance policies shouldn’t exceed Rs 50 lakh.
6. Most Sum Assured within the coverage is Rs four lakh.
Issues in LIC Jeevan Arogya
Right here we have lined these limitations, which often get hidden underneath the noise of advantages however come to cowl on the time of declare. Because the Coverage is Reimbursement coverage so one should know what to be claimed for in any other case this can result in pointless harassment afterwards.
1. If each of the mother and father (father and mom) are alive and are eligible for canopy, then both each of them must be lined or none of them shall be lined..
2. If multiple main surgical procedure is carried out throughout the identical surgical session, you possibly can declare for just one surgical procedure.
three. No profit shall be paid for first 24 hrs of keep within the hospital. Which signifies that in case your keep in Hospital is for five days, you can be paid for under three days. But when your keep exceeds 7 days then afterwards you grow to be eligible to be paid for first 24 hrs additionally.