LIC has introduced a new health insurance policy called Arogya Rakshak plan in the month of July 2021. It is a fixed benefit health insurance policy from the life insurance corporation team. It offers a pre-evaluated lump-sum amount to the policyholder during his hospitalization.
Also, LIC offers the policyholder a defined health insurance cover if the insured is diagnosed with specific diseases. Under this plan, the insured gets timely medical support to meet the medical expenses.
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LIC Arogya Rakshak Policy
This insurance policy is a health insurance plan that is benefit-based, non-participating, and non-linked. This insurance policy is unveiled by the life insurance corporation of India. Before going for it, you need to understand that it is not a comprehensive health policy. It covers only certain diseases and health risks.
It is a kind of individual health insurance that requires regular premium payment methods. In this article, we have provided LIC Arogya Rakshak policy details below that will help you to know about this plan.
Features
Having a LIC Arogya Rakshak plan provides you with several features. Below are some of the major features that a policyholder can enjoy under this plan.
1. This policy offers you a wide range of benefits to select from.
2. Under this plan, you get coverage on certain illnesses and health issues
3. You can get the coverage on either individual or family floater policy
4. In case you are hospitalized and claim for the health insurance amount, you will be supported with a lump sum of the total amount.
5. You get easy and flexible methods of premium payments for your policy
6. You can also include some of your family members in your policy. The members of the family can be your spouse, your children, or your parents.
7. It allows adults aging between 18-65 years to have their health insurance. While for children, the age is from 91 days to 20 years.
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Benefits
With this policy, you get plenty of great benefits that ensure prominent support in emergencies. We have listed the major benefits of this plan you can avail of.
1. Hospitalization/Surgery cover
Under this special plan, you get a lump-sum amount for the medical expenses incurred during your hospitalization or surgery.
2. Premium Waiver benefit
If you are a policyholder of the Arogya Rakshak policy and have to undergo a medical surgery that falls under category I or category II, you can avail of the premium waiver benefits. This benefit is also offered during the sudden or unfortunate death of the policyholder.
3. Ambulance cover
If you have been involved in multiple medical practices and have been transported from one place to another in an ambulance, the transport of the ambulance will also fall in the plan cover.
4. Rider benefits
If you pay an additional premium, you will be offered two-rider benefits. These rider benefits include LIC’s Accident benefit rider and LIC’s New Term Assurance Rider.
5. Tax-saving on the premium amount
When you pay the premium amount for your policy under the Arogya Rakshak plan, you get tax benefits under section 80D.
Eligibility Criteria
Not everyone can purchase this insurance policy. To get this special policy, you need to meet some specific eligibility criteria. We have mentioned the eligibility criteria set up by the LIC team to qualify for the Arogya Rakshak policy below.
1. For adults, the minimum age to apply for this policy is set to 18 years while the maximum being 65 years.
2. In the children section, one can apply from the minimum age of 91 days to 20 years old.
LIC Arogya Rakshak Plan 906
This is a fixed benefit, a health insurance plan introduced on 19th July 2021 by the LIC team. It is a non-linked, non-participating, regular-premium health insurance policy. The plan covers different kinds of health issues and medical emergencies by providing the policyholder with a lump-sum amount of the total expenses.
Exclusions of the LIC Arogya Rakshak Plan 906
As we have mentioned above, not everything covered under this plan. Below, we have listed some of the major exclusions of the Arogya Rakshak plan. Expenses of these things and procedures are not subject to coverage under this policy.
1. Injuries in wars, military or naval operations not included under this plan.
2. Health issues or injuries caused due to the involvement in riots.
3. Criminal acts and illegal procedures caused by injuries not covered under this plan.
4. Injuries due to natural disasters such as earthquakes, Tsunami, or volcano eruptions not included in the health insurance coverage.
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Frequently Asked Questions
1. Who can buy LIC Arogya Rakshak policy?
Individuals between the age group of 18 to 65 years can buy this plan.
2. What is Arogya Rakshak scheme?
Arogya Rakshak is a non-linked, individual, and regular-premium health insurance policy introduced by the LIC team. Under this plan, you get coverage on certain diseases and health issues.
3. How is the premium for my policy calculated?
Your premium for your plan evaluated using the LIC Arogya Rakshak premium chart. It is a premium calculator that provides you with an evaluated final amount for your premium.
4. What is a non-linked and non-participating health insurance plan?
This type of policy not linked to the stock market or regular market.
Final thoughts
Having a LIC Arogya Rakshak health insurance plan can help you with financial support for certain diseases and health emergencies. It is a kind of non-linked insurance plan that has nothing to do with the market or stocks. It is purely a regular premium, individual, health insurance plan.
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