LIC (Life Insurance Corporation of India) health insurance offers comprehensive coverage for medical expenses and hospitalization. With flexible premium payment terms and a high claim settlement ratio, LIC ensures financial security and peace of mind. Their policies also include lifetime renewability, coverage for pre-existing conditions, and the option to enhance protection with riders. Additionally, LIC has a wide network of hospitals for cashless treatment. Trust LIC health insurance for reliable and comprehensive healthcare coverage.
LIC Health Insurance is most demanded for its financial security against medical expenses. With comprehensive healthcare coverage, LIC Health Insurance focuses on prioritizing your well-being. Here are some of its major highlights.
Comprehensive coverage for hospitalization expenses.
Cashless treatment facility across a vast network of hospitals.
Coverage for pre-existing diseases after a waiting period.
No maximum age limit for policy renewal.
Additional benefits like critical illness coverage and maternity expenses.
In order to provide better medical care, LIC of India has a range of health plans available, which you can consider opting for. Their health plans include.
LIC Cancer Cover: This plan offers financial protection against various stages of cancer, providing a lump sum amount upon diagnosis
LIC Arogya Rakshak: This plan provides a fixed daily benefit for hospitalization, surgical expenses, and critical illnesses.
LIC health insurance plans offer ample advantages that can ensure both financial stability and quality healthcare. In the long run, LIC health insurance policy can prove to be a significant asset.
There are several reasons why an LIC health insurance plan can be a beneficial choice:
Comprehensive coverage: LIC health insurance offers a wide range of coverage options, including hospitalization expenses, medical treatments, surgeries, and critical illness coverage
Extensive network of hospitals: LIC has a vast network of partner hospitals and healthcare providers. This means you can avail of cashless treatment or reimbursement for medical expenses incurred at these network hospitals.
Reputation and trust: LIC (Life Insurance Corporation) is a renowned and trusted insurance provider in India with a strong track record of delivering reliable insurance products.
Tax benefits: All health insurance premium payment for self, spouse and dependent children are eligible for a tax exemption upto Rs 25,000 per annum under section 80D. There is an additional tax exemption for health insurance premium payment for dependent parents as well.
Additional benefits: LIC health insurance plans often come with additional benefits such as maternity coverage, preventive healthcare services, no-claim bonuses, and wellness programs.
LIC's Jeevan Arogya plan offers the following key features:
Attractive discounts on premiums are provided, reducing overall payable premiums.
Wide coverage for self, spouse, dependent children, dependent parents, and parents-in-law.
Comprehensive coverage of both hospitalization and surgical treatments are covered.
Longer coverage is available up to 80 years of age.
Increase in coverage by 5% each year until it reaches 150% of the original coverage amount.
No claim bonus is provided for each claim-free year, increasing the coverage level by 5%.
Unchanged premiums: The premium remains unchanged for the first three policy years, regardless of any claims made.
Optional riders are available to enhance the coverage, providing additional benefits.
Listed below are the benefits of opting LIC Health insurance policy.
The Hospital Cash Benefit provides coverage for hospitalization due to any sickness or any bodily injury in an accident exceeding 24 hours, subject to limits on benefits and other conditions.
The daily benefit that is applicable is based on the daily benefit opted for initially and is written in the policy. From the second year onwards, the daily benefit that is applicable consists of two parts: an annual increase of 5% of the Initial Daily Benefit up to a maximum of 1.5 times, and an additional increase based on "No Claim Benefit" if eligible, has no maximum limit.
The plan covers the insured if they undergo major surgery due to any medical requirement at a hospital.
The surgery should be due to sickness or body injury due to an accident during the cover period.
The major surgical benefit sum assured will be paid based on the benefit percentage specified in the Major Surgical Benefit Annexure for each surgery.
The plan covers the insured for mentioned daycare procedures.
If an insured undergoes a daycare procedure due to a medical requirement, a lump sum amount that amounts to 5 times the daily benefit that is applicable will be paid.
The payment is irrespective of the actual costs that are incurred.
The amount paid is a fixed lump sum and not based on actual costs.
Non-listed surgeries under the plan may still be covered if medically necessary.
If hospitalization exceeds 24 hours due to such surgeries, a daily benefit of 2 times the Applicable Daily Benefit is provided.
The benefit applies for each period in the continuity of 24 hours or more of hospitalization.
Additionally, any part stay exceeding 4 hours of hospitalization is also eligible for the benefit.
Benefit limits and conditions are applicable to this coverage.
No claim benefit is paid if no claims are made between policy commencement and the next renewal.
The benefit amount equals 5% of the Initial Daily Benefit for each insured.
The resulting amount is added to calculate the Applicable Daily Benefit for the next policy year.
Applies after the most recent Automatic Renewal Date.
Ambulance benefit applies in cases of major surgical benefit.
In such cases, a lump sum of Rs. 1,000 is payable.
The sum is given instead of the emergency transportation costs by ambulance.
LIC (Life Insurance Corporation of India) offers various add-ons or riders that can enhance the coverage of your health insurance policy. Here are a few LIC health insurance add-ons you can consider:
Critical Illness Rider: This add-on provides coverage for critical illnesses such as cancer, heart attack, stroke, kidney failure, and major organ transplantation.
Surgical Care Benefit Rider: With this add-on, you receive a fixed benefit amount if you undergo specific surgeries.
Hospital Cash Benefit Rider: Under this add-on, you receive daily cash benefits for each day of hospitalization.
Personal Accident Benefit Rider: This add-on provides coverage in case of accidental death or disability resulting from an accident.
Here are the steps to purchase LIC health insurance plan online:
Visit on the Health tab of the home page coverfox.com
Give details like gender and details of members
Address with pin code and your contact information
Choose the specific LIC Health Insurance Plan that you wish to buy and click on the “Buy Now” tab
Add all details and choose the plan options, riders, etc.
Make payment online.
The policy document will be shared with you in your registered email ID.
To buy an LIC health plan, you need the following documents:
To renew your LIC health insurance policy, please follow these steps:
Log in with your credentials
Look for the 'online services' option and select 'renew policy'.
Enter the policy number and other required details.
Check if all the details are correct, then proceed to payment.
Once the payment is successful, you will receive a confirmation message.
You will then receive the renewed policy document via email.
You can also renew your LIC health insurance policy offline by visiting the nearest LIC branch. Once your policy is renewed, you will receive your renewed policy document via post.
To renew your LIC Health Insurance, you may be required to provide certain documents.
Renewal Application Form: This form needs to be filled out accurately with updated information.
Identity Proof: Any valid government-issued ID card such as an Aadhaar card, Passport, PAN card, or Voter ID card.
Address Proof: Documents like an Aadhaar card, Passport, Driving License, or Utility bills with your current address.
Previous Policy Details: Information regarding your existing LIC Health Insurance policy, including the policy number and the renewal premium payment receipt.
Medical Reports: Depending on the policy, you may be required to submit medical reports or undergo a medical examination.
Premium Payment: You will need to provide proof of payment for the premium renewal amount. This can be in the form of a bank statement, payment receipt, or online payment confirmation.
Below are the guidelines for submission of LIC health insurance claims:
Submit the "Claim Intimation Form" (Form No: HI / Claim Intimation) to TPA before hospital admission, except in emergencies.
Only the Principal Insured/Policyholder should fill and submit the claim form. In exceptional cases, the spouse can submit a declaration explaining the circumstances.
Ensure all required details are filled in the Claim Form, including policy number, beneficiary details, hospital information, doctor's details, and diagnosis.
If there is a transfer of the patient between hospitals with a time difference of more than 12 hours, it will be treated as a new admission for claim settlement.
To claim health benefits, the following requirements need to be submitted to LIC:
A filled original claim form
The HTF is the Hospital Treatment Form with all sections duly filled. This should include a copy of the Health Card issued by the company or Photo ID (such as Voter card, PANCard, Driving License, or Passport) of the patient affixed in the required box, and it should be signed by the principal insured (Pl) and attested by the Hospital Authorities with stamp/seal
An attested copy of the discharge summary
An attested copy of the final hospital bill
Attested copies of any pathological/USG/MRI reports, if applicable
Attested copies of surgical reports/OT notes in case surgery was performed
Attested copies of FIR/MLC reports in cases of accidents
A self-declaration explaining the cause of the accident/fall, and any other document that may be needed during the claim evaluation process for accidents other than RTAs
Listed below are the coverages under the LIC Health insurance plan.
Individual and Family Protection: LIC health plans protect individuals and families. Hospital cash benefits are provided due to accidental injury or sickness for more than 24 hours.
Hospital Cash Benefit: The insured can claim a maximum of 30 days of hospitalization cash benefits in the first year of the policy. In subsequent years, the insured can claim a maximum of 90 days of hospitalization cash benefits.
Major Surgical Benefits: Provides a lump sum payment ranging from Rs. 1 Lakh- Rs. 4 Lakhs for up to 3 surgical day care procedures without continuous hospitalization, based on the listed surgeries undergone by the insured.
Other Benefits: Ambulance benefits are available under the LIC health plan for hospitalization during major surgery.
Cancer Cover: LIC Cancer Cover provides predetermined coverage for an initial or major-stage cancer diagnosis.
Flexible-Premium Payment: Choose between half-yearly or yearly premium payments based on the period of coverage.
LIC will reject any benefit on claims made for pre-existing undisclosed conditions
Claims for purely experimental treatments or surgeries will not be covered
Diagnosis, admission, or treatment of the insured in a hospital outside India is not covered
Donor surgeries are not eligible for benefits
Claims caused by an attempt to suicide (indirectly or directly) are not covered
Claims arising from natural perils are not eligible for benefits
Participation in an unlawful act or criminal act will disqualify the claim
Diagnoses of cancer within 180 days from policy issuance are not covered
Claims arising from drug abuse, intoxicants or alcohol are not eligible for benefits
HIV or AIDS-related diseases are not covered under LIC claims
Buying LIC Health Insurance Policy from Coverfox gives you access to top-class health insurance plans from a trusted insurance provider. Here are some benefits:
Extensive coverage for medical expenses
Affordable premiums
Convenient online purchase
Hassle-free claim assistance.
LIC Health Insurance offers a range of plans and policies to provide comprehensive coverage for your healthcare needs. You can buy LIC Health Insurance online for a convenient and hassle-free experience. Protect your health with LIC Health Insurance today!
Yes, LIC does offer health insurance cover protecting you against health risks and providing support in times of a medical emergency.
LIC offers two health plans i.e. LIC cancer cover and LIC Arogya Rakshak.
Yes, LIC health insurance plans do offer you tax benefits under section 80D of the Income Tax Act, 1961.
LIC has a network of over 5000+ hospitals where insured individuals can opt for cashless claims treatment.
LIC health insurance plans come with two riders i.e. accident benefit rider and term assurance rider
LIC health insurance plans come with a grace period of 30 days within which it is mandatory for the insured individual to renew the policy to continue enjoying the healthcare benefits offered.
No, you cannot avail loan against LIC health policy
The minimum entry age of LIC health insurance policy is 18 years
The maximum entry age of LIC health insurance policy is 65 years
LIC health plans come with a free look period of 15 days
LIC Health Insurance for Senior Citizens Having a health insurance policy is important as a health insurance policy has become a necessity in today’s day and age. Diet and changing lifestyle have an undesirable impact on our health and senior citizens are more likely to be affected by health disorders. The possibility of having medical issues increases with age and might require serious medical attention. Health is the first companion that starts forsaking senior citizens and drag their hard-earned savings with it. Cost of hospitalisation, medicines, and medical treatments are rising at a rapid rate. Moreover, senior citizens have less or no scope on the increase in their income. For senior citizens, a health insurance policy has proved to be a boon at such times. Life Insurance Corporation was founded in 1956 and is an Indian company. LIC India was formed by the LIC Act, 1956, with a capital of Rs. Five crores contributed from the government of India. The company is presently headquartered in Mumbai and is the largest insurance provider in the country. The company functions today with its eight zonal offices, 113 divisional offices, 2048 branch offices, 1381 satellite offices, and the corporate office. Over many decades, LIC has surpassed several landmarks and has set a remarkable performance record in the domain of life and health insurance. LIC Jeevan Arogya health insurance plan provides robust monetary security to senior citizens in case of hospitalisation, surgeries, and day care procedures at hospitals.
