Health Plus
1 Health is a major concern on everybody’s mind these days. With sky rocketing medical expenses, the possibility of any illness leading to hospitalization or surgery is a constant source of anxiety unless the family has actively provided for funds to meet such an eventuality. Most families rarely provide for healthcare, and even if they do, it is grossly nadequate.
Given this scenario, LIC has launched Health Plus plan, a unique long term health insurance plan that combines health insurance covers for the entire family (husband, wife and the children) – Hospital Cash Benefit (HCB) and Major Surgical Benefit (MSB) along with a ULIP component (investment in the form of Units) that is specifically designed to meet domiciliary treatment (DTB) related expenses for the insured members.
2 Major Surgical Benefit (MSB). In the event of the insured undergoing one of the major surgeries defined in the table furnished herewith, a lump sum benefit (regardless of the actual costs incurred)equivalent to the percentage of the sum assured mentioned against that surgery will be payable on providing proper proof of surgery to the satisfaction of the corporation.
3 The Principal Insured can withdraw an amount equivalent to the actual expense he or she has incurred in respect of any domiciliary treatment or to meet the medical expenses incurred over and above the hospital cash/major surgical benefits in respect of either oneself or others insured under the policy.
Note:
1. A maximum of two payments will be allowed in a policy year subject to the above conditions – on production of supporting proof of treatment and bills for expenses. DTB is available only after at least 3 years premiums are paid.
2. DTB is payable for the children covered until the health cover ceasing age.
4 Death Benefit. No death insurance cover is available under the PlanThe following benefits/changes will take place on happening of the unfortunate death of the principal insured (PI) and/or other insured member:
Conditions & Restrictions
1 Waiting Period.Waiting Period.Both HCB and MSB covers are available subject to a waiting period from the commencement of the risk cover specified hereunder – in respect of each insured member:
2 Benefit Period Limits – Hospital Cash Benefit: HCB is available only in respect of hospitalization in a ward or ICU for continuous period of 24 hours or part there of, over and above 48 hours, provided such part stay exceeds 4 hours.
3 Conditions for Availing Major Surgery Benefit Various HCB and MSB benefit limits and restrictions applicable under this policy in respect of each insured shall solely and exclusively apply to that insured only and are not transferable to any other insured.
4 Limits on Availing Domiciliary Treatment Benefit Equal to actual amount spent subject to a minimum balance of one annualized premium being left in the policy fund after making the payment.
