Max Bupa Health Insurance | The extended family health coverage

There are two types of health plans offered by Max Bupa Health Insurance under the heartbeat plan. One is family floater policy which aims on nuclear families and other is family first policy which is offered keeping in mind the joint family system prevailing in India.

Let us elaborate on the Heartbeat family first plan offered by Max Bupa Health Insurance Company Limited. The heartbeat family first plan is also called as extended family plan. This plan provides insurance up to 14 members of the family. The plan comes in 3 variants i.e. silver, gold and platinum.

Relationships covered include grandparents, self, spouse, children, parents, parents-in-law, siblings (brother and sister), daughter-in-law, sister-in-law, brother-in-law, niece, nephew.

Family members under this plan are covered for individual sum assured as well as floating sum assured.

Individual sum assured

The policy provides an individual sum assured to the members of the family. It is same for every member of the family.

Floater sum assured

It is a pool which can be used by any family member in case their individual sum assured gets exhausted during the year.

The health insurance cover starts from Rs.5 lacs and can go up to a maximum of Rs.1 crore. A health check-up might be required at the time of buying this plan.

Features of the plan:

• Over 3500 network hospitals
• Pre and post cost of hospitalization is covered
• Claims are processes directly and not via third party
• No restriction on age for the family members
• Tax exemption u/s 80D of the income tax act
• Renewability for life
• Costs incurred towards emergency ambulance is covered
• Organ transplant expense covered up to the sum assured
• Evacuation and hospitalization cost due to medical emergencies outside India (as per applicable terms and conditions)
• Expenses incurred for OPD and prescribed medicines covered as per terms and conditions
• Costs incurred for second opinion will be covered for platinum variants members

Benefits of Max Bupa Heartbeat Family First Plan:

• Maternity benefits

Maternity benefits can be availed for 2 deliveries. However, you will have to hold the policy for a period of 2 years before availing this benefit. The new born is covered from day 1 and the vaccinations of the new born are covered only for the first year.

• No capping on room rent

The insurance plans under the gold and platinum variant have no capping over the room rent (excluding suite and above for Gold plan). The room rent is covered up to the sum assured.

• Pre and post hospitalization period

The pre and post hospitalization duration is of 60 days and 90 days respectively.

• Loyalty benefits

Each policy year, you will get loyalty benefit of 10% on the expiring sum assured which will increase your sum assured. This will be applicable till the maximum increase in sum assured is up to 100% of the original sum assured (50% in case of silver variant).

• Discount on premium

If you take the policy for a period of 2 years, you can avail a discount of 12.5% on the premium of second year.

• Hospital expenses

Hospital expenses like transportation, cost of attendant, daily expenses can be provided under this policy.

• Co-payment

It is optional to take co-payment of 10% or 20% so that premium can fit best to your pocket.

• Medical treatment abroad

Platinum variant members can avail treatment for the below 9 diseases abroad:

• Myocardial Infarction i.e. Heart Attack
• Coronary heart disease
• Cancer
• Stroke
• Organ Transplant
• Brain surgery
• Aorta surgery
• Primary PAH (Pulmonary Arterial hypertension)
• Coronary angioplasty

Waiting period for pre-existing disease

• Waiting period of 24 months for gold and platinum variants
• Waiting period of 48 months for silver variants
• In the first 30 days of policy period, no medical expenses will be covered unless treatment is required due to accident. However, this is not applicable on renewal of policies.

Exclusions under this policy include the following disease:

• HIV/AIDS
• Robotic assisted surgery
• Non-medical expenses
• Sexually infected disease
• Drug abuse

This plan offered by Max Bupa, i.e. the Heartbeat Family First Plan is an excellent one for an extended family with comprehensive benefits. If you need a complete overall package for the extended family, this is the perfect solution to all your needs!

Source: Max Bupa Health Insurance | The extended family health coverage

New age medical plans with Tata AIG Health Insurance

Vinod Dutta wanted to buy a health insurance plan. The decision was a sudden one and was prompted by his mother’s recent heart ailments. Mrs Dutta, a retired schoolteacher, had suffered a heart attack and spent a whole month in hospital thereafter. The doctors, though confident of her current health improvements, could not assure that a relapse wouldn’t occur in the future. Vinod only had a group insurance plan and he had to pay the majority of the medical bills from his pocket, for which he had to borrow money. He did not want to be in such a financially challenging situation ever again and so he promptly bought a Tata AIG Health Insurance plan for his whole family.

If you too are looking to buy a health plan, either for yourself or your whole family, consider the health plans from Tata AIG General Insurance.

Buying health insurance

Gone are the days when health insurance was a luxury. Today, it has become a necessity. From the old to the young, everyone is more susceptible to fall prey to the deadly diseases and seeking the best possible medical care is the only option after that. However, the medical expenses are rising every day and it has reached a point where being able to afford a good hospital without the support of a good health insurance plan has become practically impossible. Keeping this in mind, Tata AIG Health Insurance has launched some of the most efficient health plans for you to choose from.

The best health plans from Tata AIG

Let us take a look at the awesome, new age medical plans from Tata AIG Health Insurance Plan, one of the premier general insurance companies of India.

1. Tata AIG MediPrime Plan: This is a truly comprehensive plan from Tata AIG. The plan covers hospitalisation charges, including day care expenses and ICU charges. You can avail cashless facilities at a large number of hospitals around India. The minimum entry age is 18 years and the maximum entry age is 65 years. Lifelong renewals are available with this plan.
2. Wellsurance Family Policy: This is a very good health plan from Tata AIG, especially if you are looking to insure your whole family. Cashless hospitalisation facilities are available with this plan. You will also get added benefits such as hospital cash, ambulance allowance and ICU cost reimbursements under this plan. A child as young as three months of age can be enrolled into this plan, as can a senior citizen under the age of 65 years.
3. MediPlus Health Plan: Another very good health insurance plan from Tata AIG, this plan covers the pre hospitalisation and post hospitalisation costs, along with the actual hospitalisation expenses. You also get provisions for organ donation procedures under this plan. This is a good option if you are looking for a single plan to cover yourself, your spouse, your children and your parents.

Why Tata AIG?

There are many health insurance providers in India among which Tata AIG is one of the best. It is a joint venture between the hugely respected and reputed Tata Group and the American International Group (AIG). Tata AIG General Insurance Company is a very good and trusted name in the Indian insurance industry. The company has a high claim settlement ratio and a long list of satisfied customers. The company understands the value and importance of good health and so has introduced some of the best health plans. These plans are tailor made for your various needs and you can choose a plan according to your requirements. The plans are new age and refined and cater to the modern needs. The plans are also available online and that makes it very simple for you to buy them.

In conclusion

So as you can clearly see from the points mentioned above, the health plans from Tata AIG Insurance are among the best we have today. And since health insurance is mandatory, make a wise choice and buy the best possible insurance policies from a reputed insurer like Tata AIG. This will not only prove to be a smart move, it will also keep you and all your loved ones safe and protected, and in the unfortunate case of a medical emergency, it will give you the freedom to choose the best possible medical facility.  

Source: New age medical plans withTata AIG Health Insurance 

SBI Health Insurance : The largest bank offers the best health coverage

Palash was an old-fashioned investor. He liked personally going down to the bank and completing the transactions himself. He did not trust the digital space too much and he also had very little faith in the newer financial institutes who promised to have newer and more technologically advanced products. So when Palash had to buy a health insurance plan, he decided to trust no one but the ever reputed SBI brand. He took a quick look at the SBI health plans and bought the policy he liked the most.

SBI Health Insurance

State Bank of India truly is the banker to every Indian. It has been in service for decades and catered to all the financial needs of its clients. And now with the insurance plans being available with SBI, the going has become even simple for the insurance seekers. In this article we talk about the features that make the SBI health plans stand out. Take a look.

Is health insurance necessary?

In one word, yes. Health insurance is not only necessary, it is vital! In today’s day and age, where stress, pollution, erratic lifestyle choices and improper food habits prevail, you are exposed to the risk of contracting many serious illnesses. The risk is actually much higher than what it used to be a few years back. Therefore, buying a good health insurance plan is mandatory.

Group health plan v/s individual health plan

A majority of the employers in India provide group health insurance coverage to the employees. So if you are employed, in all probability, you already have a basic health insurance cover. But is that cover sufficient? Perhaps it is not. The group health plans provide a limited amount of coverage while with an individual plan you can opt for a higher coverage, keeping the health requirements of your entire family in mind. So even if you have a group plan in place, make sure you buy a larger, comprehensive health insurance from a reputed insurer like SBI right away.

Trustworthiness of SBI health insurance

Like mentioned above, the SBI brand name carries a lot of weight in India. SBI owns the major hold of 74% in the partnership. The insurance plans from SBI General are available at most of the SBI branches and online as well, making it simpler for you to obtain the health insurance policies.

The best SBI health insurance plans

So now that you know how important it is to have a good health plan in place and you also know a little more about one of the best insurance providers, let us take a quick look at the health policies on offer from SBI:

• Basic health insurance plan: This is a basic, no-nonsense health insurance plan from SBI. The plan offers wide coverage options, ranging from Rs 1 lakh to Rs 5 lakhs. You can buy this plan for your whole family. Some of the best features of this plan are day care coverage, no medical tests for people under the age of 65 and the availability of cashless hospitalisation facilities.
• Arogya Premier Policy: This is a truly unique health insurance plan from SBI. Apart from providing a high sum insured, the policy also pays for a large range of medical treatments. This means that if you opt for an alternative type of medical treatment, such as ayurveda or homeopathy, you can make a successful claim. Of course, the claims can be made for all the regular allopathic medical expenses too. This plan provides a large cover and you can buy it for all the members of your family too.
• Hospital Daily Cash Insurance Policy: This is an extremely beneficial health plan from SBI. It assists you with a fixed sum of money for every day that you spend in the hospital. This is hugely beneficial as with the rising hospital charges, it is very difficult to seek proper healthcare unless you have a good health plan in place. Once you buy the Hospital Daily Cash Insurance Policy from SBI, you can stop worrying about arranging the funds to pay for a premier hospital bed.

Conclusion

So as you can see, health insurance is an absolute necessity these days. So if you still have not covered your own health or the health of your loved ones, do so immediately. Take a look at the wonderful health insurance plans from SBI and you will surely be able to find a great policy that caters to all your needs.

Source: SBI Health Insurance : The largest bank offers the best health coverage: 

Senior citizen health coverage benefits with Star Health Insurance

Mr. Jatin Trehan had recently retired. When out on a morning walk one day, he was hit by a scooter and fell on the road. The passersby rushed him to a nearby hospital where it was found that Mr. Trehan had fractured his ankle. With age not on his side, he was forced to go in for a surgery to fix his ankle. The real bolt came however when Mr. Trehan discovered he had no health insurance cover and had to pay the entire medical bill out of his own pocket. The helpless senior citizen had no option but to withdraw a large chunk of his life’s savings to clear the hospital bills.

Group insurance plans and retirement

A lot of people like Mr. Trehan are left uninsured overnight when they retire. The group health coverage ends as soon as the employee retires. While this is a given fact, many people don't realise the gravity of the situation. It is therefore very important for every senior civilian to have an individual health plan as well. So if a situation similar to Mr. Trehan’s takes place, you can be secured.

Health insurance for senior citizens

While it is a good idea for you to buy health insurance earlier in life, you can still opt for a senior citizen health plan after you enter the golden sixtieth decade of your life. Some of the best health insurance providers of the country, like Star Health Insurance, offer some wonderful products that cater to your exact requirements. You can buy high coverage policies and stay protected against a number of illnesses.

Features and benefits of senior citizen health coverage with Star Health Insurance

Let us first take a look at the features of the highly acclaimed Star Senior Citizens Red Carpet Health plan:

·         This policy can be bought by anyone in the age group of 60 and 74 years.

·         You won't have to go for any medical screening tests before you buy the policy. This saves you a lot of time and energy.

·         A whole lot of pre-existing illnesses are covered under this plan. There is, however, a waiting period of 2 years before the pre-conceived illness coverage begins.

·         You can renew the policy after the age of 75 years.

·         OPD expenses are covered under this plan.

·         You can opt for a very high sum assured of up to Rs 10 lakhs. This is beneficial as with your age rising, the risk of contracting bigger health problems also rise.

And here are some of the amazing benefits of the Star Senior Citizens Red Carpet Health Insurance:

1.     Pre hospitalisation, hospitalisation and post hospitalisation costs are covered under this plan.

2.     You can get a claim for the ICU expenses (up to 2% of the sum insured).

3.     You can also opt for certain diagnostic tests under this plan.

4.     Day care expenses are also covered.

5.     If you need to call an ambulance at the time of an emergency, you can reimburse the ambulance charges up to Rs 600 per hospitalisation.

Family floater plan options for senior citizens

There are other options for you as a senior civilian as well if you want to get a health plan. First and foremost, if your child is buying a health plan for the whole family, you can become a part of it as well, but most of these plans have a maximum entry age of 60 years. These plans are good for those people who promptly like to make a transformation from the group health plans to the individual plans immediately after they retire. You can get enrolled in such a plan a few years earlier as well and continue to stay protected for a long time after you retire. Star Health Insurance has some wonderful family health plans for you to consider.

The bottom line

The important thing to remember here is that you need health insurance coverage, more so if you are a senior resident. Your retirement days are wonderful and you must be able to relax and make the most of it, without having to worry about your health and finances. So buy a good senior citizen health plan from Star Health and stay protected against a long list of illnesses. The policy will take care of your medical requirements and you can live your life to the fullest. 

Source:  Senior citizen health coverage benefits with Star Health Insurance

Secure your health with HDFC ERGO Health Insurance

In today’s time, health is like a two sided coin wherein one side is the increase in life expectancy due to advancement in medical science and other is the constant risk faced by individual that they could be prone to illness/disease due to serendipity lifestyle and eating habit. Medical insurance is a boon considering the skyrocket treatment costs and the quality of treatment desired by individuals.

Various general insurance companies have come up with health insurance plans. Among all of them, HDFC Ergo offers the best plan and the variations in plans suits to the pocket of every person.

Broadly, the health insurance plans are categorized into two sections:

1.       Indemnity Plan

2.       Lump sum Plan

INDEMNITY PLAN

Indemnity plans reimburses the factual i.e. real financial loss suffered by the policy holder. This coverage is however, subject to the sum assured limit.

Common features provided by HDFC ERGO under the indemnity plans are:

·         Coverage of pre hospitalization and post hospitalization expenses

·         Expenses of emergency ambulance

·         Benefit of cumulative bonus

·         Medical check-up

·         Cost of in-patient treatment

·         Benefit of AYUSH (non-allopathic treatment)

Plans offered by HDFC Ergo under the indemnity health insurance are as follows:

1.       Health Suraksha

Main features:

·         Cumulative bonus after each claim free year

·         Health check-up costs covered after 4 years of no claim

·         No capping on room rents, doctor fees, hospital costs and specified diseases.

2.       Health Suraksha with regain and Enhance Cummulative Bonus (ECB)

Along with the basic features provided by the health suraksha plan, the additional advantage provided by this plan is:

·         Policy holder gets automatic availability of the sum assured in case it gets exhausted.

·         Cummulative bonus is enhanced to 10% up to a maximum of 100% of the original sum assured.

3.       Health Suraksha Gold

Additional benefits provided by this plan is

·         Maternity benefits (though it has a waiting period of 4 years)

·         Insurance cover to the new born baby

·         Expenses of the recuperating phase i.e. the recovery phase is covered if the policy holder was hospitalized for a period exceeding 10 days.

·         E-opinion provided in case diagnosed with critical illness

4.       Health Suraksha Gold with regain and ECB

Along with the features provided for health suraksha gold plan, additional benefit of this plan is:

·         Provides availability of basic sum assured in case it gets exhausted.

·         Cumulative bonus is of 10% every year up to a maximum of 100% of sum assured.

5.       My health medisure classic

Main features:

·         Discount of 5% in case policy bought for 2 years

·         Restoration of sum assured in case it gets exhausted due to accident.

·         Covers maternity and new born

6.       My health medisure super top-up

This policy can be bought with the existing insurance cover and provides enhanced coverage at low premiums. It can be bought even if you don’t have an already existing health insurance.

·         No medical tests required up to 55 years of age provided you have no Pre-Existing disease

·         Premium is constant at 61 years of age and above.

·         Policy can be renewed for life.

·         Discount of 10% on the premium if two or more than two members are covered for individual sum assured (in same policy)

LUMP SUM PLAN

Lump sum plan is a unique plan in which the policy holder is paid a lump sum amount i.e. the entire sum assured if any of the covered illness or disease occurs. HDFC Ergo offeres two plans under the lump sum plan category.

1.       Critical illness Silver

In this plan, 9 illnesses are covered, they are:

1.       Stroke

2.       Failure of Kidney

3.       Organ transplant

4.       Bypass surgery

5.       Paralysis

6.       Aorta graft surgery

7.       Multiple sclerosis

8.       Heart Attack

9.       Cancer

Upon the diagnosis of any of the above illness, the policy holder will be provided a lump sum amount to avail the treatment.

Additional benefits are:

·         Takes care of expenses incurred during treatment and recovery phase

·         Provides income lost due to aging factor and money for reasons like change in lifestyle

2.       Critical illness Platinum

This plan is same as the silver plan. The additional benefit is it covers 15 illnesses (i.e. 9 illnesses of the silver plan + Additional 6 illnesses). Below are the additional illnesses covered:

1.       Parkinson’s disease

2.       Liver disease (last stage)

3.       Alzheimer’s disease

4.       Replacement of heart valve

5.       Benign brain tumor

6.       Preliminary pulmonary arterial hypertension

With so many benefits under each plan offered and pocket-friendly options provided by HDFC ERGO, deciding to buy a health cover has become very simplistic task. You can buy a health cover online and calculate your premium with the help of premium calculator tool available online on the website of HDFC Ergo.

Source:  Secure your health with HDFC ERGO Health Insurance

Get best health coverage for our family from Religare Health Insurance

Religare Health Insurance Company is an entity that comes under the group of Religare Enterprise Limited, Corporation Bank and Union Bank of India. Though the company offers almost all types of insurance ranging from two-wheeler to Term Life Insurance, its health insurance and term life insurance have gained popularity over the years due to their excellent features and benefits. The company has been in existence for several years now and many people from different parts of the country have availed numerous benefits from its insurance plans. The health insurance cover provided by Religare are best suited for individuals as well as their family members.

The lifestyle and thought process of the current generation has changed significantly as compared to their predecessors. Nowadays due to hectic life schedule and busy work routine, most of the individuals are looking to lead a life that is stress free and devoid of any uncertainties. One such uncertainty is the emergency medical situation that can appear out of nowhere. To tackle this unforeseen situation, Religare has devised a health cover that can take care of all such medical situations. Customers who avail their benefits do not need to worry about medical emergencies any more. These policies provide a safeguard against expensive medical treatments which otherwise would have been very difficult for the customers to bear on their own.

Key Plans offered by Religare Health Insurance Policy

Religare health insurance policies are very competitive in the market and provide some of the best health care plans. There are numerous plans which insured can avail, some of which are listed below:

Comprehensive Health Coverage: The Comprehensive Health Coverage plan at Religare is known as CARE. This plan has been designed to take care of all your medical needs. Through this plan, Religare aims to provide all the medical benefits and features to all the members of the family under a single umbrella. Some of the special features of this plan are No limit on ICU charges, cover for ambulance charges, availability of no-claim bonus and domiciliary cover. The plan comes at a very reasonable amount of premium which does not put any burden to the pockets of the insured.

Additional Plans

Religare also presents to its customers, some of the customized plans that they can choose from based on the medical needs of themselves and their family. Although majority of the features remain the same, these plans have been tweaked a little keeping in mind the financial status of all the customers. Some of these customized plans are listed below:

Super Saver Plan: This plan is designed for those individuals who want a medical cover of up to 4 lakhs. This plan provides most of the basic benefits to the insured and works best for the common people who fall in the average salary bracket.

Elite: As per the name, this plan is devised for elite set of customers who are looking for additional benefits and top up and are willing to pay a higher premium. This plan includes the sum assured of 5, 7 and 10 lakhs.

Elite Plus: The next level of health cover offered by Religare is called the Elite Plus. This provides five possible coverage amounts viz 15,20,25,30 and 40 lakh. This is suitable for corporates who are looking for some of the finest medical insurance services.

Global and Global Plus: The next level of plan that is generally suitable for very rich and extremely prosperous individuals are the global and global plus plans. Both these plans provide extreme benefits to individuals and their family. Accordingly, the insured has to pay a very high amount of premium to take this cover.

Health Insurance has now become the need of the hour. Arguably this is one of the most important and must to have insurance cover for individuals and their family members. The biggest truth of life is that it is very uncertain and unpredictable. You cannot control your life but you can certainly take precautionary cover that can empower you to tackle unforeseen situations in life. This precautionary cover is nothing but insurance. So, in case you have still not thought about it till now, it’s the right time to give it your attention so that you can secure your future in your present.

Source: Get best health coverage for our family from Religare Health Insurance

Unique features and benefits of Religare Health Insurance Policy

One of the most popular insurance policies in India is health insurance although a large sector of people still pay their hospital bills out of pocket. This is because of either negligence or ignorance. For us, it makes sense to weigh the pros and cons of health insurance and avail the same at the earliest!

Health insurance provides dual benefits to the insured. One, this provides a financial cover to the insured to meet his financial needs in case of any medical emergency. Second, it also provides him with an opportunity to avail some of the best medical services from the hospital centres of his choice. Both these features are extremely important and in the absence of any such health insurance cover, it would have been very difficult for the insured to take care of his medical needs. Thus, health insurance is not only important but unavoidable!

One such company that is gaining more and more importance recently is the Religare Health insurance company. This insurance company has come up with various innovative plans with extremely interesting features and benefits that are sufficient to meet the medical needs of an individual and his family members. Religare enjoys an extremely high success rate and all the people who have availed insurance services from Religare have been extremely satisfied with its services. It is a specialist insurance provider whose motive is to provide the best insurance services to its clients. Through its robust distribution model and excellent services, it has been able to bring a smile on the face of all its customers.

Key Features of Religare Health Cover

Sum Insured: The insurance policy cover provides multiple options of selecting the sum insured. The sum insured varies from as low as 2 lakh to as high as 6 crores. This has been designed keeping in mind the different needs and requirements of the individuals. While the cover of 2 lakh is basic and is suitable to family with low income, an amount of 6 crore is suitable for HNIs.

No-claim bonus: In case an insured does not make any claim in a policy period, he is eligible to take a no-claim bonus discount or offer in the next policy period.

Health Check-up: Religare health cover provides the insured the benefits of doing annual health check-up to a certain limit. These checks up are essential and one should get them done on a regular basis.

PAN India Network: Another important feature of the health policy is that individual can get the hospitalization done at any of the network hospital based on his needs and convenience.

Renewability: Life-long renewability option is available with health cover policy from Religare. In addition to this, there is no pre-policy check-up required under the care freedom plan.

Waiting period: Waiting period of 2 years is required in case of any pre-existing disease of the insured.

Coverage: Almost all the health insurance policies provided by Religare provide insurance cover for an individual as well as his family members.

Long-term policy: Instead of taking a single year policy and renewing it every year, an individual can go for a combined three year plan which will mean increased benefits at reduced price.

Customized Plans: If an insured is not satisfied with the default plans offered by Religare, he can still go for customized plans where he can try and tweak the plan based on his medical needs.

Benefits of Religare Health Insurance Cover

One stop shop: Religare health insurance policy is a policy for all. You do not have to worry about the financial status of your family when you approach Religare. They have a plan for all the strata of society and offer numerous benefits under one roof.

Personal Attention: An insured can count on them when he needs it the most. In case of any difficulties during purchasing the policy or filing a claim, Religare can provide the insured all the attention he needs.

Hassle free process: The entire process of querying about the policy, buying the policy and filing the claim has been made online. You can now purchase a health insurance with Religare in just a matter of few minutes.

So, when it comes to offering insurance cover, Religare is way ahead of its competitors in terms of convenience and affordability.

Source: Unique features and benefits of Religare Health Insurance Policy

LIC JeevanArogya Health insurance plan: Should I buy it?

Medical insurance has formed an integral part of investments and savings. With the change in eating habits and lifestyle, individuals have become more prone to diseases. A health insurance plan is bought to avail the best of medical facility for your near and dear ones in case of any medical emergencies or planned surgeries.

The medical costs are rising steeply, thus making it mandatory to adequately insure oneself with sufficient sum assured. LIC, the oldest life insurance company in the history of our country has introduced a health insurance plan called “LIC JeevanArogya Plan”. It is defined benefit and non-linked health insurance policy which will help you in managing the medical costs incurred due to illness/disease.

This is a health cover for the entire family. You can insure yourself, spouse, children, parents as well as parents-in-law.

Features of LIC JeevanArogya plan:

Ø  Provides disbursement irrespective of the medical costs incurred

Ø  Covers yourself, spouse, children, parents and parents-in-law i.e. one policy for all

Ø  Add new members of family (marriage/new borns) in the existing plan.

Ø  The No Claim Benefit can be availed

Ø  Flexibility for paying premiums

Ø  Policy can be bought with other existing health policy purchased for the same medical reason

Ø  Avail a quick cash of 50% of Major Surgery Benefits.

Mode of payment of premium

The payment can be made in flexible modes like monthly, quarterly. Semi-annually and annually.

 Calculation of premium

Premium is calculated taking into account the age of the applicant and the HCB opted for. HCB is hospitalization Cash Benefit, which can be availed for Rs.1000, Rs.2000, Rs.3,000 and Rs.4000. It is payable after 24 hours of hospitalization.

Ø  The minimum entry age is 18 years (self and spouse) up to a maximum entry age of 65 years.

Ø  Minimum entry age for children is from 91 days to maximum entry age of 17 years

Ø  Minimum entry age for parents and parents-in-law is from 18 years to a maximum entry age of 75 years

This plan insures the policy holder up to the age of 80 years. However, in case of children, the age is restricted to 25 years.

Below is the table used for calculating premiums:

Entry Age	Premium (Principal Insured – Male)	Premium (Spouse/Parent/in law - Female)
20	1923/- approx.	1393/- approx.
30	2243/- approx.	1731/- approx.
40	2780/- approx..	2241/- approx.
50	3768/-	2849/- approx.

Premium calculation for a Child:

Entry Age	Premium for a child
0	792/-
5	795/- approx.
10	812/- approx.
15	871/- approx.

All figures above are in Indian rupees.

Assuming a HCB of Rs.1000/- per day.

The premium is guaranteed to a period of 3 years from the date of initiation of policy. After the end of 3 years, LIC will review the premium as per the previous records and claims made during the period, and consider revising it (subject to approval of IRDA). If the premium is revised, it will be fixed again for another 3 years.

Benefits of this policy:

Hospitalization Cash Benefits

Hospitalization cash benefit is a unique benefit provided to the insured in case of hospitalization disregarding the expenses he incurs on the treatment.

Ambulance benefit

Up to Rs.1000/- ambulance charges will be provided to the insured in case of ambulance services obtained.

Major Surgical benefit

If the insured undergoes a major surgery during the term of the policy, this policy will provide major surgical benefits which are 100 times the HCB. Suppose, the HCB is Rs.3000/- , then the MSB shall be Rs.3,00,000/-

Other surgeries

If the insured undergoes medical treatment for surgeries not listed in the annexure relating to major surgical benefit or day care benefit, the policy will pay twice the HCB to the insured.

Premium waiver benefit

Premium will be waived for a period of 1 year if the insured has undergone major surgery as per the annexure of major surgery of LIC.

Day care procedure benefit

This benefit will be provided if the insurer avails listed day care procedure. This amount will be paid in lump-sum sum and is ideally, 5 times the HCB.

Term insurance rider and accident rider

You can add the rider of term insurance (which is 100 times of HCB) and accident benefit rider which can be for a maximum value of the term insurance rider to your existing Jeevanarogya plan.

Disadvantage in this policy:

The maximum limit of sum assured is Rs.4 lacs, which is inadequate keeping in mind the advancement in technology and inflation attached medical costs.

No benefit if you are hospitalized for less than 24 hours

Both parents/parent-in-law should be included (assuming they are live). You cannot insure only one of them.

Exclusions are:

Ø  Pre-existing disease,

Ø  Any treatment not in nature of allopathy

Ø  Epidemic sickness

Ø  Change of gender, cosmetic surgery.

Ø  Surgery for donating an organ

Ø  Congenital anomalies

Ø  Dental treatment

Ø  HIV/AIDS

Ø  Physiotherapy treatment

After reading this article, it would be easier to decide whether to buy this plan or leave it considering it suits your needs and is adequate after taking into account your current situation and future financial goals.

Source : LIC JeevanArogya Health insurance plan: Should I buy it?