LIC’s Health Plus Policy

Modern amenities, changing life style and food habits, leave us to get into the grip of many diseases which incur heavy expenses, sometimes unaffordable by us. At present, we are hearing about so many new diseases and a small ailment can turn into major one. If a earning member of your family being hospitalized you have to meet out the hospitalization expenses, doctors fees and various tests to be carried out. Meanwhile the patient loses out on his earning for being away from work.
To meet out the expenditure, most of us have to give up our comforts and we use the existing cash reserve. Thanks to Health Insurance Policy which helps you to tackle such situation with ease by providing timely and adequate medical care. Life Insurance Corporation, the renowned insurance company has come out with a plan called Health Plus assures benefits for you and your family. Health Plus is a first ever Unit Linked Health Insurance Plan launched by L.I.C. of India. Health Plus Unit Plans policy guards against the trauma that you may face due to increased financial burden during hospitalization.
Coverage
LIC's Health Plus is the first ever unit linked Health Insurance plan which provides for insurance cover against health risks such as Hospital Cash Benefit [HCB] Major Surgical Benefit [MSB] and there is a provision for reimbursement of domiciliary treatment expenses
Eligibility: Those who fall in the age between 18 and 55 can cover him/her. Spouse, dependent children also be covered under this policy.
Premiums can be paid regularly either in yearly or half yearly or monthly (through ECS only) installments. Provision to increase premiums in multiples of Rs. 500/-. under the plan if a request is received from the PI [principle insured]in writing
Benefits : Following are the benefits available under the Health Plus policy
• Hospitalization BenefitAn amount equal to the daily Hospital Cash Benefit, available under the policy during that policy year, shall be payable subject to terms and conditions, if the insured is hospitalized due to sickness or accidental injury.
The amount of Daily Benefit will increase at each policy anniversary by 5% of the Initial Daily Benefit till it reaches a maximum of 1.5 times the Initial Daily Benefit
• Major Surgical BenefitIn the event of the insured undergoing any of the surgeries defined, due to medical necessity. the respective benefit percentage of the Major Surgical benefit Sum Assured, as specified against each of the eligible surgeries mentioned, shall be payable subject to terms. This benefit will remain fixed and there shall not be any increases in subsequent years.
• Domiciliary Treatment Benefit : An amount shall be payable out of Policy Fund equal to the actual amount spent to meet any domiciliary treatment expenses provided at least 3 years premium is paid.
• Other medical expenses over and above those paid through hospital cash/ surgical benefits incurred in respect of PI or any of the other Insured lives at any time, subject to all the following conditions being satisfied for each payment:
1. claimed amount is at least Rs 2500.
2. maximum amount that can be paid shall be 50% of the policy fund at the date of payment.
3.minimum balance of one annualized premium left in the Policy Fund after making the payment
Tax exemption also available under SEC 80-D of the Income Tax Act, for the premium amount paid up to Rs. 15000/- per annum.
Make use of the policy available from LIC’s Health Plus and pave way for healthy and tension free life.

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