LIC Jeevan Arogya Review Should you buy it ?

!hen it "o#e$ to %inan"ial &rodu"t$ no brand "an be bigger than LIC' Re"ently LIC Laun"hed LIC Jeevan Arogya ( )uerie$ $tarted $howering* +' ,ee&a- .-indly advi$e #e o% the new li" &lan /eevan arogya' !hether I $hould &ur"ha$e it'0 1' 2iran .3lea$e give #e detail$ %or Jeevan arogya li" &lan I want to ta-e thi$0 3. Anu& .Sugge$t #e about li"4$ #edi"lai# &oli"y /ivan arogya55''0 6' Muni$h .7uery on li" Jeevan Arogya "an I go with thi$ one or not'0 So go ahead and read it$ "o#&lete review %eature$8 $o#e $&e"ial %eature$8 li#itation$8 "o#&li"ation$8 "o#&ari$on with other health in$uran"e &rodu"t$ ( %inally $hould you buy it'
by H EMA NT ENI !A L on JUNE 12, 2011

There4$ nothing wrong i% we $ay that Health In$uran"e $hould be &ur"ha$ed to .$ave your $aving$0' 9n one $ide there4$ in"rea$e in Li%e e:&e"tan"y due to i#&rove#ent in #edi"al %a"ilitie$ and on the other there4$ deterioration in health due to li%e $tyle "hange$' And a""o#&anied with in"rea$ing #edi"al "o$t$ and other health"are e:&en$e$8 -ee&ing one $el% ade)uately in$ured with &ro&er health in$uran"e "over ha$ be"o#e inevitable'

Though individual$ $tart reali;ing the i#&ortan"e o% health in$uran"e but $till they are #ore "on%u$ed with nu#ber o% &rodu"t$ available in the #ar-et' 3reviou$ly there were only general in$uran"e "o#&anie$ that &rovide thi$ in$uran"e8 then "a#e Standalone health in$uran"e "o#&anie$ and now Li%e In$uran"e "o#&anie$ ha$ al$o $tarted $elling health in$uran"e' Thi$ "on%u$ion i$ "learly vi$ible a#ong &eo&le a$8 whenever any new &lan i$ laun"hed in the #ar-et &eo&le get$ e:"ited and $tart$ en)uiring about the $a#e' Re"ently LIC ha$ laun"hed a new Health In$uran"e 3lan na#ing .Jeevan Arogya0' So8 we have tried to review thi$ %ro# a <inan"ial 3lanning &er$&e"tive and how doe$ Jeevan Arogya $tand again$t e:i$ting &oli"ie$ in the indu$try'

<eature$ ( bene%it$ o% LIC Jeevan Arogya

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LIC Jeevan Arogya i$ a de%ined bene%it8 non lin-ed &lan where the bene%it$ are %i:ed and will be &ayable to you in %ull8 irre$&e"tive o% the a"tual a#ount $&ent on treat#ent' 2. It "over$ the Hospital cash Benefit (HCB) whi"h #ean$ that you will be &aid a de%ined a#ount %or the nu#ber o% day$ you have $tayed in the ho$&ital' There are 6 variant$ available under thi$ %eature' R$ +=== &er day8 R$ 1=== &r day8 R$ >=== &er day and R$ 6===?@ &er day' Aour &re#iu# and other %eature$ and $u# a$$ured will be de&endent on the variant you have "ho$en under HC ' >' Jeevan Arogya "over$ $o#e +6= de%ined #a/or $urgerie$' In "a$e you get o&erated %or any $urgery a$ de%ined under thi$ &oli"y %eature you will be &aid lu#& $u# a#ount whi"h i$ e)ual to +== ti#e$ the HC "ho$en' !hi"h #ean$ that i% you have "ho$en a &lan o% R$ 1===?@ &er day HC then your Su# a$$ured under Ma/or Surgi"al bene%it BMS C %eature would be R$ 1 la-h' And thi$ a#ount will be &aid to you irre$&e"tive o% your a"tual e:&enditure on the &ro"edure'

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There i$ $o#e +6= day "are &ro"edure$ de%ined under thi$ &lan' I% you get o&erated under that $&e"i%i" &ro"edure than you will be &aid D ti#e$ o% HC &lan you have "ho$en' !hi"h #ean$ i% you have "ho$en a &lan o% R$ 1===?@ &er day HC then your $u# a$$ured under day "are Treat#ent %eature would be R$ +====?@' And thi$ a#ount will be &aid to you irre$&e"tive o% your a"tual e:&enditure on the &ro"edure' D' In the event o% an In$ured under thi$ &lan8 undergoing any $urgery not li$ted under MS or day "are treat#ent "au$ing the in$ured ho$&itali;ation to e:"eed a "ontinuou$ &eriod o% 16 hr$ with in the "over &eriod8 then a daily bene%it e)ual to 1 ti#e$ the HC $hall be &aid %or ea"h "ontinuou$ &eriod o% 16 hr$'

Li#itation$ o% Jeevan Arogya

In thi$ we4ve not "overed the ba$i" and general li#itation$ and e:"lu$ion$ that are a&&li"able to al#o$t all the Health In$uran"e &oli"y' ut $&e"i%i" li#itation$ a$ i$ there in the %eature$ o% the &oli"y' +' There4$ annual and Li%eti#e li#it i#&o$ed on the ,aily "a$h bene%it %eature in LIC Jeevan Arogya' In the %ir$t year one "annot "lai# %or #ore than >= day$ in "a$e o% N9N ICE $tay and %or ICE $tay the LIMIT i$ +D day$' Se"ond year onward$ thi$ li#it will be in"rea$ed to F= day$ %or N9N ICE $tay and 6D day$ %or ICE $tay' In li%eti#e you "an "lai# #a:i#u# o% G1= day$ in "a$e o% N9N ICE $tay and >H= day$ in "a$e o% ICE $tay' 1' In Ma/or $urgi"al bene%it you "an "lai# only on"e in one year and I ti#e$ in li%eti#e' >' In day "are 3ro"edure$ you "an "lai# #a:i#u# %or > &ro"edure$ in a year and li#it i$ 16 %or li%eti#e' Al$o8 it4$ not &aid i% you "lai# %or Ho$&ital Ca$h ene%it

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<or Ter# a$$uran"e rider your Total Su# a$$ured %ro# other &oli"ie$ and rider$ $hould not e:"eed 1D la-h' D' <or a""idental Rider your total $u# a$$ured under all other individual and grou& &oli"ie$ $hould not e:"eed R$ D= la-h' H' Ma:i#u# Su# A$$ured in the &oli"y i$ R$ 6 la-h'

Co#&ari$on o% LIC Jeevan Arogya with other Health In$uran"e 3oli"ie$

I% you draw a "o#&ari$on between e:i$ting &oli"ie$ %ro# A&ollo Muni"h8 a/a/ Allian; and Tata AIJ8 you %ind the$e #u"h $i#&ler in ter#$ than LIC' Al$o the de$ired bene%it$ whi"h an individual $ee-$ %ro# the &oli"y are higher in "ertain area$'