Life Insurance coverage Company of India or LIC launched a benefit-based medical insurance coverage, Arogya Rakshak, on 19 July. The coverage is a non-linked, non-participating, common premium, particular person medical insurance.
In line with the LIC, “The Arogya Rakshak coverage offers fastened profit medical insurance cowl towards sure specified well being dangers and offers well timed assist within the case of medical emergencies and helps the insured and his household to stay financially impartial in tough occasions.”
The Arogya Rakshak coverage is totally different from the common complete medical insurance when it comes to methodology of cost reimbursement. Typically, the great well being insurance policies reimburse the precise price incurred on the medical remedy, as much as the restrict of the sum insured.
Then again, the Arogya Rakshak coverage pays a lump sum profit equal to the sum insured regardless of precise medical remedy prices.
People can insure themselves (because the principal insured), their partner, all kids, and oldsters underneath one coverage.
The coverage is accessible for principal insured/partner/mother and father aged between 18 and 65, and youngsters of age 91 days to twenty years.
The quilt interval obtainable for principal insured/partner/mother and father is as much as 80 years, whereas the identical is accessible for kids as much as 25 years solely.
A few of the advantages of the coverage are listed under
• Versatile profit restrict to select from
• Versatile premium cost choices
• Helpful monetary safety is accessible within the case of hospitalisation, surgical procedure, and so forth.
• Lump-sum profit regardless of precise medical prices
• Growing well being cowl by the use of Auto Step-up Profit and No Declare Profit.
• Suppose a couple of member are coated underneath a coverage. In that case, a premium waiver for different insureds is accessible in case of unlucky demise of the principal insured, i.e. the policyholder on the inception of the coverage.
• Premium waiver profit for one yr within the occasion of any insured present process surgical procedure falling underneath Class I or Class II for sure main surgical advantages.
• Ambulance facility, well being check-up profit is accessible
Moreover, optionally available riders reminiscent of new time period assurance rider and accident profit rider can be found underneath the coverage
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