Introducing JEEVAN AROGYA Table 903: New Health Benefit Plan

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Introducing JEEVAN AROGYA Table 903
New Health Benefit Plan
Health Insurance, Central Office, Hyderabad
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Comprehensive insurance for a motorcycle is
approximately Rs.1500/-
Comprehensive insurance for an entry level car in
India is approximately Rs.12000/- and goes up to
Rs.20000/- for mid level cars
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That is all it takes for you and your family to
be free from all hospitalization worries every
year with LICs Jeevan Arogya YES Total family
hospitalization surgical insurance for the
price of your car insurance Because we believe
you love your family more than your vehicle
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Special Attractions

• Benefit payout is fixed irrespective of actual
  expenses incurred.
• Can be availed along with Medi-claim for the same
  Hospitalization/ Surgery
• On the basis of Xerox copies of Bills
• Guaranteed Premium for 3 years.
• Auto Renewal Date (ARD) after each 3 Yrs to
  revisit Premium depending on experience.
• New Premium rate applicable on age at entry

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Special Attractions

• Hospitalization Cash Benefit (HCB)
• Rs.1000, 2000, 3000, 4000 PER DAY
• Up to Rs. 4000 per day for maximum no. of 720
  days
• Up to Rs. 8000 per day for max. no. of 360 days
  in ICU
• 2. Major Surgical Benefit (MSB) 100 times
  HCB/ADB
• No of Surgeries increased to 140
• MSB available for Minors also
• MSB Benefit is in addition to MSB under Plan 901/
  902
• 3. Day Care Procedures (DCPB) 5 times HCB/ADB
• Addition of 140 Surgeries, 3 in a year, 24 in
  life-time
• 4. Other Surgical Benefit (OSB) 2 times
  HCB/ADB
• All other Surgeries covered

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USPs

• Other Benefits
• 5. Premium Waiver Benefit One annualized
  premium w.e.f next instalment Premium
  following Surgery
• PWB under 57 Surgeries (15 Surgeries 100 42
  60 S.A.)
• 6. Ambulance Expense _at_ Rs.1000 p.a per person
  for 57 Surgeries (15 Surgeries
  100 42 60 S.A.)
• 7. Auto increase _at_ 5 in both HCB MSB up to 50
  even if there is any claim to
  take care of inflation

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USPs

• 8. Quick Cash
• 50 Advance Payment under 57 Surgeries
• (15 Surgeries 100 42 60 S.A under MSB only)
• Performed in Net Work Hospitals
• 9. No Claim Benefit
• 5 of Initial HCB on ARD is added without any
  upper limit
• 10. Term Assurance Accident Benefit Riders
  (Optional )
• Up to 25/ 50 lacs respectively till age 60
  years
• Maximum term 35 years. S.A. MSB S.A.
• Minimum S.A. for Term Rs.1 lac, For A.B.
  Rs.25,000

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Special Attractions

• Age at entry for PI and Spouse from 18 to 65 Yrs
• For Parents/ Parents-in-laws 18 to 75 Yrs
• For Children 91 days to 17 Yrs
• Maximum Health cover for every one up to 80 Yrs
• Except up to max. 25 Yrs for dependent
  Children
• Risk cover up to 4 lacs per insured
  Subject to overall limit of 10 lacs
• (All our Health Policies put together)

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HCB Benefits at a glance

• HCB increases by 5 every year Up to1.5 times.
• Eg. Rs 1000/- after 1 Yr becomes Rs.1050
• and in the 11th Year becomes
  Rs.1500/-(Max)
• Hospitalization eligibility condition
• Fraction of 4 Hours treated as a day
• First 28 hrs eligible for 1 day benefit
• First 24 hours No benefit
  
• Exception When hospital stay exceeds continuous
  
• period of 6 days and 4 hours, HCB for 7
  days
• (including 1st day also) is allowed

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HCB Benefits at a glance
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MSB- Benefits at a glance

• MSB allowed for 140 surgical procedures
• 100 SA 15, 60 SA 42, 40 SA 60, 20 SA 23
• Annual Limit
• 100 times of HCB in a policy year (Max. 4 lacs)
• Life time Limit
• 800 times HCB in full policy term (Max. 32 lacs)
  

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Day Care Procedure Benefit (DCPB)

• DCPB 5 X HCB
• 140 Listed day care procedures
• 3 Day care Procedures per year
• 24 Day care Procedures in Policy Life time

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Other Surgical Benefit (OSB)

• OSB 2 x HCB
• Any surgery other than MSB, DCPB
• At least 24 hours stay in Hospital required
• Annual limit 15 days in 1st policy year
• 45 days in each subsequent years
• Life time limit 360 days per Insured

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Quick Cash facility

• Advance 50 of MSB amount to PI
• Category I or II Surgeries
• Hospitalized in a Net work Hospital
• PI/ Relative informs LIC/TPA
• TPA processes request/ advices LIC on payment
• LIC credits eligible amount to PI Bank account

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Ambulance charges

• Rs. 1000/- reimbursed per insured per Year
  towards Ambulance charges
• Ambulance charges incurred for transportation of
  the insured to undergo Major Surgeries under
  category 1 or 2

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No Claim Benefit

• During the period between two Automatic Renewal
  Dates or from DOC to next Automatic Renewal Date,
  if there are no claims in respect of any insured,
  No claim Benefit is payable
• No claim benefit would be equal to 5 of initial
  Daily Benefit
• Effective from the immediately following
  automatic renewal date

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Addition of members
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The policy lapses

• When premium is not paid within days of grace,
  the policy lapses and no benefits will be
  payable there after .
• Policy can be revived within 2 years from the
  date of first unpaid premium subject to payment
  of outstanding premiums with interest and
  underwriting.
• Others Loan Facility is not there
• Assignment facility is not there

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The waiting Period foravailing the
benefits.

• 0 days for accident claims
• 90 days from the Date of Commencement for HCB
  MSB
• 45 days after revival, if revived within 90 days
  from FUP of the policy. for Hospital Cash Benefit
  and Major Surgical Benefit
• 90 days if revived after 90 days from FUP

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Benefit Illustration for HCB 1000
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Cost/ Benefit Illustration 8 lives
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Product Positioning

• Vis-à-vis Medi-claim
• As no Maturity/ Saving/ Unit Investment/
  Withdrawal element
• Long term up to 80 yrs cover
• Auto Renewal Premium after each 3 years
  applicable on age at entry throughout term of
  policy
• Market Segment Everyone Anyone

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THANK YOU
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