In July 2021, LIC introduced the Agrogya Rakshak (“arogya” meaning health and “rakshak” meaning protection) health insurance plan. It is a non-linked, non-participating, regular premium plan designed for individuals. LIC’s Arogya Rakshak Plan is available with an affordable premium.
It offers fixed-benefit health insurance coverage for specific health risks. It is intended to provide immediate support for medical emergencies so that the policy-holder can remain financially independent without straining the family finances.
There are certain eligibility criteria, and individuals can insure themselves as the “principal insured” children and parents under the same policy. The policy is available to all, regardless of income group. Eligibility criteria of principle insured/spouse/parents are 18 to 65 years, while children can be insured from 91 days to 20 years.
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LIC’s Arogya Rakshak Plan Different Plans
Arogya Rakshak can be purchased under three different categories, based on the number of beneficiaries covered. The sum insured ranges from Rs 1 lakh to 10 lakhs
- Plan A – Exit age: 35, coverage for policy-holder+spouse+two dependent children. Premium Rs 2000 -14,500
- Plan B – Exit age: 70, coverage for policy-holder+spouse+two dependent children. Premium Rs 3000 – 25,500
- Plan C – Exit age: 70, coverage for policy-holder+spouse+dependent parents+two dependent children. Premium Rs 5000 – 62,500
Main Features of LIC’s Arogya Rakshak Plan
- Cashless: Arogya Rakshak is a cashless facility available across impaneled hospitals. This is very useful in medical emergencies for individuals and family floater policies.
- Wide empanelment: Both government and private hospitals are available under the paneled hospital list. This helps patients to access the nearest hospital quickly and conveniently.
- Better range of conditions: Arogya Rakshak offers coverage for 1059 treatments, so it helps to avoid the risk of being denied coverage for treatment for a particular ailment
- Flexible: The plan limits are flexible, and you can choose the most suitable premium
- Age: Entry age for adults is 18-65, for children up to 25 years
LIC’s Arogya Rakshak Plan Inclusions and Exclusions
Arogya Rakshak provides
- Ambulance coverage
- Tax-savings benefits
- Auto Sum-up and No-Claim benefits
- Riders available include accident benefit and new term assurance
- Lump-sum payment for hospitalization/surgery-related expenses
- Premium-waiver benefit if surgery falls under certain categories or if the insured dies
- Premium-waiver for other insured on the same plan other than the primary insured
Arogya Raksha excludes coverage for
- Obesity treatments
- Criminal/Illegal acts
- Natural calamities
- Alcohol/Drug abuse
- Congenital conditions
- Cosmetic plastic surgery
- Treatment for HIV/STD
- Dental/hearing treatments
- Infertility/Sterility treatment
- Self-inflicted injury/Suicide
- Stem-cell implantation/Surgery
- Change of gender surgery/Treatment
- Eye-sight testing, spectacles, contact lenses
- Psychiatric/psychosomatic treatments
- Participation in risky/Adventure sports
- Injuries due to war, participation in riots
- Vitamins and supplements are not part of a treatment
- Cost of vaccination/Inoculation unless animal-bite related
Points To Know
- You need to renew the plan at least twice to avail benefits of pre-existing disease.
- Beneficiary has to wait for 30 days before availing of any coverage under any plan.
- You can avail cashless benefits for follow-up treatment if your hospital can provide the necessary documentation regarding consultation, investigation/test reports, list of medications, photos showing acknowledgment of medicines, scanned copies of bills and test results, code-number/name of the disease in the plan.
- Policies are valid for one year based on enrollment in the scheme. Renewal must be done during the last 30 days of the plan tenure and not before. You need an Indian Bank account.
Conclusion
LIC comes with a new policy, and the Arogya Rakshak plan is one of them. LIC launch, Arogya Rakshak policy has its own benefits and with certain terms & conditions. LIC’s Arogya Rakshak Plan has different sum assured options and there are a lot of benefits they won’t include with the plan. For as, If you are injured during war or participating in riots, in such case LIC’s Arogya Rakshak Plan won’t cover you or they reject your claim.