LIC launches benefit based health insurance plan Arogya Rakshak, know how it will work

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The Life Insurance coverage Company (LIC) of India has launched as we speak a brand new medical insurance plan referred to as Arogya Rakshak, which is a non-linked, non-participating, common premium, particular person medical insurance plan.

The plan is aimed toward offering well timed assist in case of medical emergencies and serving to the insured and his/her household to stay financially unbiased in troublesome occasions.

It differs from the traditional medical insurance plan by way of technique of cost. Whereas the latter re-imburses the precise value incurred on remedy, Arogya Rakshak supplies fastened profit medical insurance cowl. It pays a lump sum profit regardless of precise medical prices.

This plan can be not a complete plan as it really works solely towards sure specified well being dangers.

One should buy the plan on a person in addition to household floater foundation. It’s obtainable for Principal Insured/partner/mother and father aged 18 to 65 years and for youngsters of age 91 days to twenty years.

The duvet interval for principal insured, partner and fogeys is obtainable as much as 80 years whereas in case of youngsters, the identical is obtainable solely until the age of 25 years.

This coverage comes with a characteristic that will increase the general well being cowl with time mechanically by the use of the Auto Step-up profit.

If multiple member is roofed, the coverage provides premium waiver for different Insured individuals in case of unlucky demise of the unique Principal Insured i.e. the policyholder at inception of coverage. It additionally provides 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.

Moreover, the coverage supplies ambulance and well being check-up advantages.

There are non-obligatory riders obtainable underneath the plan akin to LIC’s New Time period Assurance Rider and LIC’s Unintentional Profit Rider.

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