Life Insurance Corporation of India (LIC) has introduced Arogya Rakshak with effect from July 19. It is a non-linked, non-participating, regular premium, individual health insurance plan. This plan provides fixed-benefit health insurance cover against certain specified health risks and provides timely support in case of medical emergencies. It also helps the insured and his family remain financially independent in difficult times. An individual can insure himself/herself (as the 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 the age of 91 days to 20 years. The cover period available for PI/spouse/parents is up to 80 years of age and for children up to 25 years.
Benefits of this plan include flexible benefit limit to choose from, flexible premium payment options, valuable financial protection in case of hospitalization, 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 are covered under a policy, the premium is waived for other insured(s) in case of death of the original principal insured i.e. the policyholder at the inception of the policy.