Medical Care with LIC Health Insurance Plans
In today’s scenario, we are encountering the rise of inflation in all industries, and the medical industry does not remain untouched. One medical emergency can empty your savings for years and leave you a financial burden. However, purchasing a health insurance plan at the right time is a smart decision to ensure financial stability and peace of mind during any emergency before it's too late.
Talking about peace of mind in the insurance industry, the LIC of India is one of the most trusted insurance companies in India, offering different types of life insurance, health insurance, and financial products that suit customers.
Table of Content
What is LIC Health Plan?
The LIC Health plan is a traditional health plan with updated features that provide financial assistance in the case of any medical emergency. LIC health insurance plans cover the cost of medical treatments as specified in the policy documents. LIC of India has launched LIC Cancer Cover and LIC Arogya Rakshak, which covers major medical contingencies.
Why Should You Buy LIC Health Insurance?
With the ever-changing lifestyle, health insurance has become more important than ever and achieving quality healthcare is one of the rising needs. LIC health insurance plan is one of your strong assets to ensure your financial well-being and quality healthcare. There are numerous benefits of LIC health insurance plans in the long run, and some of them are discussed below:
Financial Safety of Your Family
The LIC health plan is exceptionally helpful if you are the sole breadwinner of your family with multiple dependents. You cannot prevent medical emergencies, but certainly ensure that your family gets quality healthcare with the LIC health plan.
Combat Medical Inflation
Medical inflation is constantly rising, and the cost of advanced and moderate treatments may shake your budget. With a LIC health insurance policy by your side, you cover pre and post-hospitalization expenses, get coverage for critical illness, reimburse your daycare expenses, and get regular check-ups without any financial stress.
Cashless Treatments
Moderate health insurance plans come up with the cashless treatment facility. Meaning you can seek medical treatment without paying any cash to the hospital. All you need to do is inform the LIC of India predecided hours before the planned admission or within definite hours in case of a medical emergency. After the mandatory formalities are completed, the corporation directly clears all the bills with the network hospital.
Tax Benefits
The premium paid towards the LIC health insurance policy offers the policyholder yearly tax exemptions of up to Rs. 25,000 under Section 80D of the Income Tax Act, 1961.
No Claim Bonus
LIC health insurance not only covers the medical expenses claimed but also rewards the policyholder if they do not make any claim throughout the policy period. The insurer rewards the policyholder by increasing the sum assured without paying any additional premium.
Peace of Mind
All in all, LIC health insurance protects savings and ensures peace of mind in the life of an individual. When stress-free about any financial uncertainty, you plan your financial investment better.
List of LIC Health Insurance Plans
LIC of India offers below mentioned LIC health plans to provide you better medical care:
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LIC Cancer Cover Plan |
Coverage Benefits
- Early and Major Stage Cancer Coverage
- Premium Waiver Benefit
- Income Benefit
Eligibility Criteria
Entry Age: 20 years - 65 years
Basic Sum Assured: Rs. 15 Lakhs - Rs. 50 Lakhs
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LIC Arogya Rakshak Plan |
Coverage Benefits
- Spouse, Child and Parents Covered
- Increasing Health Cover
- Major Surgical Benefit
Eligibility Criteria
Entry Age: 91 days - 65 years
Surgical Benefit Sum Assured: Rs. 2.5 Lakhs - Rs. 10 Lakhs
Inclusions Under LIC Health Insurance
Buying a LIC health insurance policy provides the following inclusions and benefits per the selected policy.
Individual and Family Protection
The policyholder can protect themself or family members depending on the LIC health plans selected. LIC Arogya Rakshak plan protects the individual, spouse, children, and parents under a single policy.
Hospital Cash Benefit
If the insured or the family member covered under the plan is hospitalised due to accidental body injury or sickness and remains hospitalised for more than 24 hours, the corporation pays the pre-decided benefits. No benefits are paid for the first day the person is hospitalised.
In the first policy year, the insured can claim a maximum hospitalisation cash benefit of 30 and 90 days in the subsequent years.
Major Surgical Benefit
A percentage of the Major Surgical Benefit Sum Assured is paid if the insured is undergoing one of the listed surgeries. The benefits range from Rs. 1 Lakh to Rs. 4 Lakhs. This is the lump sum benefit payable to the insured for a maximum of 3 surgical daycare procedures that do not require any continuous hospitalization.
Other Benefits
Under the LIC health plan, the insured can claim ambulance benefits for hospitalisation in case of major surgery.
Cancer Cover
Under LIC Cancer Cover, if the insured is diagnosed with early or major-stage cancer, predetermined cancer coverage is offered at the first diagnosis.
Flexible Premium Payment
The individual can choose to pay premiums at yearly or half-yearly intervals, depending on the cover period.
Exclusions Under LIC Health Plan
Except for the benefits mentioned above, some exclusions prevent the corporation from reimbursement of the medical cost. The corporation will not pay any benefit on the claims made upon:
- Any pre-existing conditions which are not disclosed to and accepted by the corporation.
- Any treatment or surgery performed of a purely experimental nature
- Admission, diagnosis, or treatment of the insured in a hospital outside India
- Donor surgery
- Any claim caused by attempted suicide (directly or indirectly) by the life assured
- Any natural peril
- Participation of the life assured in a criminal or unlawful act
- If the cancer is diagnosed within 180 days from the issuance of the policy
- Drug abuse, alcohol or intoxicants
- AIDS/HIV related diseases
How to Buy LIC Health Plan?
Individuals can buy any LIC health insurance plan depending on their individual or family health needs. Follow the given steps to buy LIC health insurance plan
- Visit the official website of LIC of India.
- Go to the ‘buy policy online’ option available on the homepage.
- Select any LIC health plan and tap ‘click on buy online’.
- Keep the reflected documents and the information ready to proceed with the buying process.
- Fill in your name and contact details and click ‘Proceed’.
- Customize the policy amount and payment term as per your suitability. Select any “add-on benefits/Riders” if needed.
- Provide the necessary documents and click the “Proceed to Payment” option.
- Once the payment is successful, you will get the policy details in your email.
Documents Required to Buy LIC Health Plan
To purchase an LIC mediclaim plan, the following documents are required.
- Identity proof
- Age proof
- Address proof
- Medical certificate per the test conducted (if any).
LIC Health Insurance Claim Process
The waiting period for LIC mediclaim is 90 days from the policy commencement date, except for accidental injury or surgery. When an insured or eligible family member is hospitalised for an illness or injury as covered under the LIC health plan, he or she needs to inform the LIC servicing branch immediately. By doing this, the claim process will be enabled. If the insured cannot visit the branch, any relative can inform the branch about the incident.
The insured must submit the claim form in writing with the medical evidence within 30 days from discharge. Upon confirmation, the claim process will be initiated, verified, and processed with the network hospital.
Documents Required for LIC Health Plan Claim
Keep the following documents ready to file the LIC Health Insurance claim.
- Claim form
- Photocopy of ID proof
- Hospital discharge summary or discharge certificate
- Medical reports and prescriptions
- All diagnosis reports
- Copies of all investigations
- Invoices of payment
- Medical bills
How to Renew LIC Health Plan?
After the policy tenure, the LIC health policy needs to be renewed to resume the benefits. LIC of India provides online and offline facilities to renew LIC health insurance plans.
Renew LIC Mediclaim Offline
The policyholder can reach the nearest LIC branch to renew their LIC health insurance plan. Just keep your policy number and required renewal amount ready, and the renewal will be completed.
Renew LIC Mediclaim Online
Visit the official website of LIC of India and log into the LIC customer portal using your existing login credentials. Here, you can track your LIC policy, check premium due details, and renew your LIC health plan.
Final Words
LIC health plan is the best way to get high coverage at an affordable cost and secure your family. You can ensure the best healthcare facilities during a medical emergency. In case you need support for understanding the claim process, LIC has 24/7 active customer support. Are you confused about which LIC health insurance policy to purchase? Get expert assistance from a RenewBuy POSP advisor.
