With effect from July 19, 2021, the Life Insurance Corporation of India (LIC) has launched Arogya Rakshak, a non-linked, non-participating, regular premium, individual health insurance scheme. According to the media release of the corporation "This plan provides fixed benefit health insurance cover against certain specified health risks and provides timely support in case of medical emergencies and helps the insured and his family to remain financially independent in difficult times."
Regarding eligibility criteria, LIC has unequivocally mentioned in its press announcement that "An individual can insure himself/herself(as Principal Insured(PI), his/her spouse, all children and parents under one policy."
"The plan is available for Principal Insured/spouse/parents aged 18 years to 65 years and children of age 91 days to 20 years. The Cover Period available for PI/spouse/parents up to age 80 years and for children up to 25 years," LIC further added.
Benefits of the policy
According to LIC, this plan gives the following benefits under one policy:
- Flexible benefit limit to choose from
- Flexible premium payment options
- Valuable financial protection in case of hospitalisation, surgery, etc
- Lump sum benefit irrespective of actual medical costs
- Increasing Health cover by way of Auto Step Up Benefit and No Claim Benefit.
- If more than one member is covered under a policy, Premium Waiver for other Insured(s) in case of unfortunate death of the Original Principal Insured i.e. the Policyholder at inception of policy.
- Premium Waiver Benefit for one year in the event of any Insured undergoing surgery falling under Category I or Category II for certain Major Surgical Benefits.
- Ambulance Benefit
- Health Check-up Benefit
- Optional Riders are available under the plan i.e. LIC's New Term Assurance Rider (UIN:512B210V01) and LIC's Accident Benefit Rider (UIN:512B203V03).
For more information, individuals can visit https://licindia.in/ or they can directly call any LIC branch.