LIC Health Protection Plus (Plan No. 902) – Comprehensive Health Insurance Plan [Discontinued]

The LIC Health Protection Plus Plan was a unique long-term health insurance plan by LIC of India, combining health coverage with investment benefits. Although this plan is no longer available for new policyholders, it offered substantial health and financial support, covering hospital expenses, surgeries, and even domiciliary treatment. This guide details its features, benefits, and eligibility, with information on similar available plans.

What Was LIC Health Protection Plus?

LIC Health Protection Plus provided a combination of health insurance and investment options, covering the policyholder’s entire family, including the principal insured, spouse, and children. Below are the details of its features, benefits, and eligibility.

Key Features of LIC Health Protection Plus

• Hospital Cash Benefit (HCB):
  This daily cash benefit was payable during hospital stays due to accident or illness. The amount depended on the chosen coverage level.
• Major Surgical Benefit (MSB):
  A lump sum payment was provided for major surgeries, with the amount based on a percentage of the sum assured.
• Domiciliary Treatment Benefit (DTB):
  Reimbursement for medical expenses incurred during domiciliary treatments or outpatient department (OPD) visits, beyond hospital or surgical cover.
• Income Tax Benefits:
  Premium payments qualified for tax deductions under Section 80D of the Income Tax Act.

Benefits of LIC Health Protection Plus

Death Benefit

This benefit provided financial support in the event of the insured’s death during the policy term.

Survival Benefits

The plan also offered benefits during hospitalization and surgeries, ensuring financial relief for medical needs.

Eligibility Requirements for LIC Health Protection Plus

• Minimum Entry Age:
• Adults: 18 years
• Children: 3 months
• Maximum Entry Age:
• Adults: 55 years
• Children: 17 years
• Other Conditions:
• No loan or assignment options were available.
• No surrender value was offered.
• Policyholders could not transfer or assign the policy.

Premium Payment Options and Flexibility

Premium Payment Modes:
Premiums could be paid monthly (ECS), half-yearly, or yearly, offering flexibility. After three years, a premium holiday was allowed, which enabled the policyholder to maintain coverage with minimal payments during financial hardships.

Cooling-Off Period:
A 15-day cooling-off period was available, allowing policyholders to return the policy if not satisfied.

Alternatives to LIC Health Protection Plus

As LIC Health Protection Plus has been discontinued, LIC offers other plans that provide comprehensive coverage. Some popular options include:

• LIC Jeevan Saral – A flexible plan with enhanced savings and insurance.
• LIC Jeevan Anand – Combines savings with whole-life coverage.
• LIC Wealth Plus – A wealth accumulation plan with market-linked returns and insurance.

Conclusion

LIC Health Protection Plus was a well-rounded policy providing both health coverage and investment benefits for families. Though it’s no longer available, individuals looking for comprehensive health and investment benefits may explore LIC’s existing alternatives. For tailored information, consult LIC’s official website or reach out to an LIC agent.

For those interested in family health plans, similar coverage is available with LIC’s LIC Jeevan Arogya Plan, which is designed to cover medical expenses for the insured and their loved ones.