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.
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dear sir,
I would like to go with health insurance plan for my mother and my father whats is best plan do you sugggest me,my father is 52+ mother is 48+
Anual scheme i would like to perfer..
i am paying 12000/-per year to lic for health insurance give my benifits and health coverages .
hi,
let me know who can i insure the health plan for my family of five people,what is the annual amount to be paid, is ther any faclity to pay in installments, can i insure it for long time,if in case i dont make use of the plan in that concern time what benefit i am getting back.can i insure for more than Rs two lakhs of medical bill, if yes what amount shuold i insure.
so please get back to me with these details so that i can proceed for furthur formalities.
I have taken lic health protection plus of premium about 15000/ yr but list in list of diseases covered for msb is narrow ,i am asking only if any one affected by other major diseases like tumour in heart ,are they eligible for msb.
is there any hospitals list available to take a treatment or can we take treatment in any hospital and then claim the amount?
claim would paid i whose account , my or in hospital account?
hi!
this is baseer
i would like to know full details of premiums and their advantages
hi,
this policy is not mentioned under premium calculator. from where can i get premium details. i can invest upto 10000 per year.
You can pay premium as per your need. Here is the minimum premium details:
1. Single Life: 6 times the HCB of the Principal Insured OR Rs.5000 p.a.
2. Two Lives: The arithmetic sum of 6 times the HCB of PI and 3 times the HCB of the second insured. OR Rs.7500 p.a.
3. More than two Lives: The arithmetic sum of 6 times the HCB of PI and 3 times the HCB of each of the others insured OR Rs.10,000 p.a.
Annualized Premiums are payable in multiples of Rs.500.
I want to know what is the minimum yearly premium of a couplle and one child in lic health insurance.
Minimum yearly premium is Rs 10000 for a couple with a child.
More than two Lives: The arithmetic sum of 6 times the HCB of PI and 3 times the HCB of each of the others insured OR Rs.10,000 p.a.
how much maturity amount i will get at the end of health protection plus policy of lic
health protection plan of lic 15000 annual dene par maximum kitna rs ka protection hoga .