Life Insurance Corporation of India (LIC) has introduced Arogya Rakshak with impact from July 19. It is a non-linked, non-participating, normal premium, person wellness insurance coverage program. This program offers fixed-advantage wellness insurance coverage cover against particular specified wellness dangers and offers timely assistance in case of healthcare emergencies. It also aids the insured and his family stay financially independent in tricky occasions. An person can insure himself/herself (as principal insured (PI), his/her spouse, all children and parents beneath one policy.
The program is offered for principal insured/spouse/parents aged 18 years to 65 years and children of age of 91 days to 20 years. The cover period offered for PI/spouse/parents is up to 80 years of age, and for children up to 25 years.
Benefits of this program involve versatile advantage limit to pick from, versatile premium payment possibilities, beneficial economic protection in case of hospitalisation, surgery and so on, lump sum advantage irrespective of actual healthcare charges, rising wellness cover by way of auto step up advantage and no-claim advantage.
If more than one members are covered beneath a policy, the premium is waived for other insured(s) in case of death of the original principal insured i.e. the policyholder at the inception of the policy.