LIC’s Arogya Rakshak Plan In Chandigarh. It gives you following benefits under one
policy:
· Flexible benefit limit to choose from
· Flexible premium payment options
· Valuable financial protection in case of hospitalisation,
surgery etc
· Lump sum benefit irrespective of actual medical costs
· Increasing Health cover by way of Auto StepUp Benefit and
No Claim Benefit.
· If more than one members are covered under a policy,
Premium Waiver for other Insured(s) in case of unfortunate
death of the Original Principal Insured i.e. the Policyholder at
inception of policy.
· Premium Waiver Benefit for one year in the event of any
Insured undergoing surgery falling under Category I or
Category II as listed in Major Surgical Benefit Annexure.
· Ambulance Benefit
· Health Check-up Benefit
You can choose the amount of Initial Daily Benefit (i.e., the Hospital
Cash Benefit applicable in the first year of the policy) in respect of each
of the family members proposed to be covered under the same policy
from `2,500 per day to `10,000 per day(in the multiples of `500) as
per your needs.
This is the amount that will be payable in the event of hospitalisation
in the first three policy years on a per day basis. The amount of
Hospital Cash Benefit will increase automatically by way of Auto Step
Up Benefit and No Claim Benefit. The Major Surgical Benefit that you
will be covered for will be 100 times the Hospital Cash Benefit. Thus,
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the initial Major Surgical Benefit Sum Assured will range from `2.5
lakh to `10 lakh in multiples of `50,000. Other benefits such as Day
Care Procedure Benefit, Other Surgical Benefit, Medical Management
Benefit, Major Surgical Benefit Restoration,Extended Hospitalization
Benefit, Health Check-up benefit shall also depend upon the Hospital
Cash Benefit chosen.
Your premium as the Principal Insured will depend on your age,
gender, the level of Health cover i.e. the Initial Daily Benefit you have
chosen at outset and the mode of payment.
The Premium for other Insured members which includes your Spouse,
children and your parents will depend on their age, gender, the level
of Initial Daily Benefit chosen as well as on the age of PI.
1. Eligibility Conditions and other Restrictions :
i. Minimum age at entry:
Principal Insured: [18] years (last birthday)
Insured Spouse/ Parents: [18] years (last birthday)
Insured Children: [91] days (completed)
ii. Maximum age at entry:
Principal Insured: [65] years (last birthday)
Insured Spouse/ Parents: [65] years (last birthday)
Insured Children: [20] years (last birthday)
iii. Cover Period:
Principal Insured, Insured Spouse, Parents:
– [80 minus Age at entry]
– [70 minus Age at entry], if AHC benefit is triggered and the policy
is not continued by payment of premium after expiry of AHC
period.
Insured Children: [25 minus Age at entry]
iv. Initial Daily Benefit (i.e. the level of Hospital Cash Benefit (HCB) at
inception):
Initial Daily Benefit Principal
Insured (PI)
Insured Spouse
(if any), Insured
Parents (if any)
Insured Children
(if any)
a) Minimum Initial
Daily Benefit ` 2,500/- ` 2,500/- ` 2,500/-
b) Maximum Initial
Daily Benefit
` 10,000/-
per life*
Insured Spouse – Less
than or equal to that
of PI
Insured Parents – Less
than or equal to that of
Insured Spouse
(PI, if there is no
Insured Spouse).
Further, included
parents shall be
covered for equal
benefits.
Less than or equal
to that of Insured
Spouse (PI, if there is
no Insured Spouse).
Further, included
children shall be
covered for equal
benefits.
Initial Daily Benefit shall be in multiple of ` 500/-
*The total Initial Daily Benefit under all policies issued to an individual under this plan
shall not exceed ` 10,000/-
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The benefits under this plan are payable in terms of Applicable
Daily Benefit (ADB):
Applicable Daily Benefit means the amount of Hospital Cash
Benefit in a Policy Year reckoned as follows:
a) During the first three years of cover starting from the Effective
Date of Cover in respect of an Insured, the Applicable Daily
Benefit shall be equal to the Initial Daily Benefit (i.e. the level
of Hospital Cash Benefit) chosen by the Principal Insured.
b) After the third year of cover, the Applicable Daily Benefit of
the previous Policy Year shall be increased by way of ‘Auto
Step Up Benefit’ (as specified under Para 3.I below) and ‘No
Claim Benefit’ (as specified under Para 3.II. below). And the
resulting amount shall be the Applicable Daily Benefit for
that Policy Year.
2. Benefits payable on inpatient hospitalisation during the
Cover Period:
I. Hospital Cash Benefit (HCB):If any of the Insured(s) is hospitalised
due to Accidental Body Injury or Sickness and the stay in hospital
exceeds a continuous period of 24 hours, then for any continuous
period of 24 hours or part thereof(after having completed the 24
hours), provided any such part stay exceeds a continuous period
of 4 hours in a non-ICU ward/room of a hospital, an amount equal
to the Applicable Daily Benefit (ADB)available under the policy
during that policy year shall be payable, regardless of actual costs
of treatment, subject to Benefit Limits and Conditions mentioned
in Para 14.I, Waiting Period mentioned in Para 17 and Exclusions
mentioned in Para 18 below.
If any of the Insured(s) is required to stay in an Intensive Care
Unit of a hospital, two times the Applicable Daily Benefit will be
payable subject to Benefit Limits and Conditions mentioned in
Para 14.I., Waiting Period mentioned in Para 17 and Exclusions
mentioned in Para 18 below.
During a period of 24 continuous hours (i.e. one day) of
Hospitalisation, if the said Hospitalisation included stay in an
Intensive Care Unit as well as in any other inpatient (non-Intensive
Care Unit) ward of the Hospital, the Corporation shall pay benefits
as if the admission was to the Intensive Care Unit provided that
the period of Hospitalisation in the Intensive Care Unit was at
least 4 continuous hours.
II. Major Surgical Benefit: In the event of an Insured, due to medical
necessity, undergoing one of the surgeries listed in Major Surgical
Benefit Annexure, in a hospital due to Accidental Bodily Injury or
Sickness, the respective benefit percentage of the Major Surgical
Benefit Sum Assured, as specified against each of the eligible
surgeries mentioned in Major Surgical Benefit Annexure, shall
be payable subject to Benefit Limits and Conditions mentioned
in Para 14.II., Waiting Period mentioned in Para 17 and Exclusions
mentioned in Para 18 below. The Major Surgical Benefit Sum
Assured is equal to 100 (one hundred) times the Applicable Daily
Benefit for that Policy Year in respect of each Insured.
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Hospital Cash Benefit will be paid over and above the lump sum
Major Surgical Benefit based on the length of stay in the hospital.
In addition, the following benefits shall also be available under
Major Surgical Benefit:
a. Ambulance Benefit:
In the event that a Major Surgical Benefit (as mentioned in the
Major Surgical Benefit Annexure) is payable and emergency
transportation costs by an ambulance have been incurred,
an additional lump sum of `1,000 will be payable in lieu of
ambulance expenses.
b. Premium Waiver Benefit:
In the event that a Major Surgical Benefit falling under
Category 1 or Category 2 (as mentioned in the Major Surgical
Benefit Annexure) is payable in respect of any Insured, the
total one year premium in respect of the Policy including
Rider Premium (if opted for), from the date of instalment
premium due coinciding with or next following the date of
the Surgery will be waived.
In case of multiple MSB claims (in respect of multiple/same
Insured) falling under Category 1 or Category 2(as mentioned
in the Major Surgical Benefit Annexure) in the same Policy
year, premium waiver benefit will be available only once
during the policy year.
c. Major Surgical Benefit Restoration:
In the event that 100% of Major Surgical Benefit Sum Assured
is exhausted in a policy year in respect of an Insured due to
the previous Major Surgical Benefit claims in that policy
year, the next Major Surgical Benefit claim (i.e. in case of
any specified surgeries as mentioned in the Major Surgical
Benefit Annexure) in that policy year, post exhaustion of Sum
Assured, will be covered, subject to:
i. The subsequent Major Surgical Benefit claim should not
be arising from or due to the previous Major Surgical
Benefit claims in that policy year.
ii. The subsequent Major Surgical Benefit claim should be
for a different category/bucket (For e.g. Cardiovascular
System, Digestive System etc.) than any of the previous
Major Surgical Benefit claims in that policy year.
iii. The subsequent Major Surgical Benefit claim
should be for a different procedure (For e.g. CABG,
Pancreatolithotomy etc.) than any of the previous Major
Surgical Benefit claims in that policy year.
III. Day Care Procedure Benefit: In the event of an Insured, due to
medical necessity undergoing any specified Day Care Procedure
mentioned in the Day Care Procedure Benefit Annexure, in a
Hospital or Day Care Centre due to Accidental Bodily Injury or
Sickness, a lump sum amount equal to 5 (five) times the Applicable
Daily Benefit shall be payable, regardless of the actual costs
incurred subject to Benefit Limits and Conditions mentioned in
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Para 14.III., Waiting Period mentioned in Para 17 and Exclusions
mentioned in Para 18 below.
IV. Other Surgical Benefit: In the event of an Insured, due to
medical necessity, undergoing any Surgery not listed under
Major Surgical Benefit or Day Care Procedure Benefit causing
the Insured’s Hospitalization to exceed continuous period of
24 hours then, a daily benefit equal to 2.5 (two and half) times
the Applicable Daily Benefit shall be payable regardless of the
actual costs incurred for each continuous period of 24 hours or
part thereof provided any such part stay exceeds a continuous
period of 4 hours of Hospitalization, subject to Benefit Limits and
Conditions mentioned in Para 14.IV., Waiting Period mentioned in
Para 17 and Exclusions mentioned in Para 18 below.
Hospital Cash Benefit will be paid over and above the Other
Surgical Benefit based on the length of stay in the hospital.
V. Medical Management Benefit: In the event of an Insured
undergoing inpatient hospitalization, due to the following major
medical conditions, a lump-sum of 2.5 times of Applicable Daily
Benefit shall be payable regardless of the actual cost incurred,
subject to Benefit Limits and Conditions mentioned in Para 14.V.,
Waiting Period mentioned in Para 17 and Exclusions mentioned
in Para 18 below.
a. Dengue
b. Malaria
c. Pneumonia
d. Pulmonary Tuberculosis
e. Viral Hepatitis A
Hospital Cash Benefit will be paid over and above the Medical
Management Benefit based on the length of stay in the hospital.

VI. Extended Hospitalization Benefit :In the event of an
Insured undergoing a single period of continuous inpatient
hospitalization in excess of 30 days due to Accidental Body Injury
or Sickness, a lumpsum of 10 times of Applicable Daily Benefit
shall be payable regardless of the actual cost incurred, subject to
Benefit Limits and Conditions mentioned in Para 14.VI., Waiting
Period mentioned in Para 17 and Exclusions mentioned in Para
18 below.
Extended Hospitalization benefit would be payable in addition
to any applicable Hospital Cash Benefit, Major Surgical Benefit,
Other Surgical Benefit or Day Care Benefit payable for the same
event of inpatient hospitalization.
3. Other Benefits:
I. Auto Step Up Benefit: Under this benefit, an amount equal to
15% of Initial Daily Benefit shall be added to the Applicable Daily
Benefit of the previous policy year. Such increase in the Applicable
Daily Benefit shall be effected at the end of every third policy
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anniversary during the Cover Period and shall continue to be
added until Applicable Daily Benefit attains a maximum amount
of 1.5 times the Initial Daily Benefit. Thereafter this amount in each
Policy year in future shall remain at that maximum level attained
i.e. no addition shall be made under this benefit.
In case of all the Insured(s) covered at inception, the date on
which Auto Step up Benefit is effected may be same. However,
in respect of any Insured(s) joining subsequently, the date on
which Auto Step up Benefit is effected may be different as the
third policy anniversary shall be construed from ‘Effective Date of
Cover’ of the respective Insured.
In case the Auto Health Cover Benefit is triggered in respect of
an Insured as detailed in Para 3.IV. below, Auto Step Up Benefit
shall not be applicable. On expiry of Auto Health Cover Period,
the conditions applicable for Auto Step Up Benefit shall be as
specified in Para 3.IV.ii (Auto Health Cover Benefit).
II. No Claim Benefit: In the event of every three claim free policy
years, an amount equal to 5% (five percent) of the Initial Daily
Benefit shall be added to the Applicable Daily Benefit at the end
of the third claim free year; where, ‘Claim free policy years’ shall
be construed in respect of the policy as a whole, that is, there are
no claims in respect of any of the Insured(s) covered under the
policy during the immediate previous three years. There shall be
no maximum limit for this benefit throughout the cover period.
Hence, even if any additional member is included after the Date of
Commencement of Policy, the date of accrual of No Claim Benefit
in respect of such additional member shall coincide with that of
PI (i.e. No Claim Benefit shall be added for that additional Insured
member from the policy anniversary on which ‘No Claim Benefit’
is added in respect of Principal Insured). Hence, No Claim Benefit
in respect of any such additional member may accrue even after
a minimum period of one year from Effective Date of Cover and
before completion of three policy years from his/her joining the
policy. Therefore, the No Claim Benefit for Principal Insured and
additional members will accrue concurrently irrespective of their
date of joining the policy.
On death of original PI, in case the Auto Health Cover Benefit
is triggered/not triggered in respect of any of the Insured (as
detailed in Para 3.IV.ii. below), No Claim Benefit (i.e. in respect
of all the Insured members) shall be added in the event of three
claim free policy years from the Date of Expiry of AHC period in
respect of the Insured member for which AHC period expires in
the last.
III. Health Check-up Benefit:
In addition to various benefits payable on hospitalization
mentioned in Para 1. above, Health Check-up Benefit is also
payable in respect of each of the Insured. Under this benefit, an
amount equal to the actual expenses incurred but not exceeding
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One half of Applicable Daily Benefit shall be payable in respect
of each Insured towards Health Check-up expenses once in every
3 policy years provided he/she undergoes Health Check-up and
shares a copy of the medical report and the medical bills.
IV. Death Benefit:
i. On death of an Insured person other than the Principal
Insured: The policy will continue in respect of other Insured(s)
and premium payable in respect of the deceased Insured
shall cease from the instalment premium due date coinciding
with or next following the date of death of the Insured.
ii. On death of Original Principal Insured: Auto Health Cover
(AHC) Benefit (wherein the premiums payable under the
Base Policy shall be waived for Auto Health Cover Period)
as detailed below shall be available to the other Insured(s)
covered under this policy and the policy shall continue. Auto
Health Cover (AHC) Benefit shall be available to each of the
eligible Insureds, as per terms and conditions mentioned in
Para A below. If any of the Insured(s) do(es) not satisfy trigger
condition for AHC Benefit, then the condition as specified in
Para B below shall apply.
In such an event, the new PI shall be as specified in Para 4
below.
Auto Health Cover (AHC) Benefit:
In case of death of original Principal Insured, the policy shall
continue with new PI along with other eligible surviving
Insured(s) without any payment of premiums from the policy
anniversary coinciding with or next following the date of
death of the Principal Insured, for a further period of 15 years
or up to specified age in respect of each of the Insureds,
whichever is earlier, provided they are eligible for this AHC
Benefit.
The period for which AHC Benefit shall be applicable in
respect of each of the eligible Insureds shall be denoted as
“Auto Health Cover (AHC) Period”. The applicable Auto
Health Cover Period for each eligible Insured shall be as
detailed below:
• For Insured Child(ren): AHC Period shall be a period of 15
years or till the policy anniversary on which the Insured Child
is 25 years, whichever is earlier.
• For Insured Spouse/Insured Parent(s): AHC Period shall be
a period of 15 years or till the policy anniversary on which
the age of Insured Spouse/Parents is 70 years, whichever is
earlier.
(Note: The AHC Period mentioned above shall commence
from the policy anniversary coinciding with or next following
the date of death of the Principal Insured. On completion of
AHC Period, as applicable to each Insured member, the cover
in respect of remaining eligible Insured(s) can continue by
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payment of premiums for, the outstanding term, if any. The
premium payment, in such a case, shall commence from
the policy anniversary date coinciding with the date of
completion of the AHC Period).
Hence, the Auto Health Cover Benefit will be triggered only
if the age of Insured spouse / Insured Parent(s) as on the
policy anniversary coinciding with or next following the date
of death of PI is below 70 years and/or any of the Insured
Child(ren) is below 25 years. In case any of the surviving
Insured does not satisfy the criteria, the Auto Health Cover
benefit will not be applicable for such Insured life and the
condition as specified in B) below shall apply.
A) Conditions applicable for Auto Health Cover Benefit:
i. The policy should be in force, by payment of all due
premiums, on the date of death of the PI and also till the start
date of AHC Period.
ii. AHC Benefit shall not be applicable if Principal Insured
(whether sane or insane) commits suicide at any time within
12 months from the Effective Date of Cover or within 12
months from the date of revival,
iii. The benefit of “Auto Health Cover” as mentioned above shall
trigger in respect of each of the Insureds from the policy
anniversary coinciding with or next following the date of
death of the Principal Insured, provided such surviving
Insured(s) satisfy the trigger condition.
iv. During the AHC Period, the premiums under the Base Policy
in respect of eligible Insured(s) shall be waived. However,
premiums in respect of any riders, if opted for, shall not be
waived and shall continue to be paid as per respective rider
conditions. In case the rider premiums are not paid within
the grace period, the rider benefits shall cease. Once the rider
is ceased, it cannot be re-opted during the cover period.
v. The benefit payable under the Base Policy during the AHC
Period shall be based on the Applicable Daily Benefit as
applicable in respect of each Insured as on the date of death
of PI i.e. Applicable Daily Benefit shall remain at the same level
during the AHC Period and no further increase in Applicable
Daily Benefit by way of ‘Auto Step Up’ or ‘No Claims Benefit’
shall apply during this period.
vi. AHC Benefit shall be available in case of death of Original
Principal Insured only. On the Insured Spouse/Parent
becoming the new PI (as mentioned under Para 4 below),
AHC benefit shall not be available on death of new Principal
Insured.
vii. If the AHC Benefit is triggered for any eligible Insured(s),
the cover in respect of such member(s) shall continue till
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the expiry of their respective AHC period. On expiry of the
AHC period, the cover in respect of eligible Insured(s) can
continue till their Date of Cover Expiry provided premiums in
respect of such Insured member(s) are paid by the PI.
If the premium in respect of any such Insured member(s)is not
paid within the grace period; then his/her cover shall cease on
the expiry of the grace period. The cover may be revived on the
request of PI as specified under Para 10. B) below. The revival
period of 5 years for each Insured post AHC shall be reckoned
from the respective First Unpaid Premium for each such
member.
The Applicable Daily Benefit after the expiry of Auto Health
Cover Period, under such cases shall be as specified in (viii)
below.
viii. Calculation of Applicable Daily Benefit on expiry of AHC
Period in respect of each Insured:
On expiry of AHC period in respect of an Insured, the
Applicable Daily Benefit payable for such a member, for a
period of three completed policy years, shall be based on
the Applicable Daily Benefit as on the date of death of PI and
thereafter the Auto Step Up Benefit shall be resumed.
‘No Claim Benefit’ (i.e. in respect of all the Insured members)
shall be added to Applicable Daily Benefit only after
completion of three claim free policy years from date of
expiry of AHC period in respect of all the Insured(s) covered.
If the date of expiry of AHC period is not same for all the
insured(s), the No Claim Benefit shall be added to Applicable
Daily Benefit in the event of three claim free policy years from
the Date of Expiry of AHC period in respect of the insured
member for which AHC period expires in the last.
B) Conditions applicable if AHC Benefit is not triggered in respect
of any of the Insureds i.e. the age of the Insured Spouse and/
or age of the Insured Parent(s) is 70 years or above on the
policy anniversary coinciding with or next following the date
of death of PI:
The cover in respect of such member(s) shall continue till their
respective Date of Cover Expiry provided the premiums in
respect of such Insured member(s) are paid. In such an event, the
Applicable Daily Benefit for such member shall continue to be
increased only by way of Auto Step-up Benefit, if any. However,
No Claim Benefit for such members shall only be added in the
event of three claim free policy years from the Date of Expiry of
AHC period in respect of the Insured member for which AHC
period expires in the last.
If the premium in respect of such Insured member(s)is not paid
within the grace period; then his/her cover shall cease on the
expiry of the grace period. The cover may be revived on the
request of PI as specified under Para 10(B) below.
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V. Maturity Benefit: No benefits are payable at the end of the Cover
Period and the Policy shall stand terminated.
4. Default provision for Insured Spouse/Parent to become
Principal Insured on exit of original PI from the policy:
On the exit of original PI in the event of death or expiry of his/
her cover (where expiry of cover shall be on the Date of Cover
Expiry of PI or on PI exhausting all the lifetime maximum Benefit
Limits), the policy shall continue with the surviving Insured
Spouse as new PI along with other eligible surviving Insured(s). If
there is no Insured Spouse under the Policy; or if Insured Spouse
has predeceased the PI; or if the Insured Spouse has exited from
the policy, the policy shall continue with elder of the surviving
Insured Parents as new PI along with other eligible surviving
Insured(s).
The premium for such new successive PI would be based on the
then applicable tabular premium rates for Principal Insured and
the age for calculation of revised premium rate will be his/her age
at entry. However, the existing level of cover in respect of the new
PI shall remain unaltered as applicable to him /her.
In the event of the expiry of cover of PI or on death of PI (wherein
AHC benefit is not triggered), the premium in respect of the
new PI (Insured Spouse/Parent) will change with effect from the
coinciding or following instalment premium due date.In case
AHC benefit is triggered the premium in respect of the new PI
will change with effect from the instalment premium due date
coinciding with the date of expiry of his/her AHC Period.
Further, Auto Health Cover Benefit (as mentioned in Para 3.IV.ii
above) will not be available on death of the new PI.
5. Payment of Premiums:
You may pay premiums regularly at yearly or half-yearly intervals
over the Cover period.
The premium in respect of each individual will be payable from
the date of entry into the policy till the date of cover expiry under
the policy and will depend on the age, gender of the insured
member, the level of Hospital Cash Benefit (HCB) chosen whether
the insured member is Principal Insured or any other Insured life
(in case of cover for more than one member in a policy).
The level of premium for Principal Insured and the other insured
members shall be different for the same age and same level of
cover.
The total premium to be charged for a policy will be the sum of
premiums in respect of each member to be covered in that
policy.
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6. Premium Review:
The premiums are guaranteed for 3 years from the date of
commencement of policy in respect of each Insured covered at
inception. Based on the experience of the portfolio under this
Plan, the Corporation reserves the right to revise the premium
rates any time after the completion of 3 policy years starting
from the Date of Commencement of Policy, the premium rates
for future years will be subject to revision in compliance with
applicable Regulations from time to time. However, such revised
rates shall be guaranteed for a further period of at least 3 years.
The instalment premium on each review will be based on age at
entry i.e. age as on the Date of Commencement of Policy/ age at
the time of inclusion into the policy, as the case may be and the
Corporation’s premium rates then prevailing for this product.
If any additional member is included in the policy after the Date
of Commencement of Policy, the premium charged in respect
of that member will be guaranteed till the policy anniversary
on which the premium rates are revised in respect of Principal
Insured and hence may change even before completion of 3
years from his/her joining the policy. Thereafter the premium
rates for Principal Insured and additional members will be revised
concurrently (i.e. the period of three years shall reckoned from the
Date of Commencement of Policy/date from which the premiums
are reviewed).
Any such revision in premium rates under a policy, after the
approval from the Authority, shall be notified to each policy
holder at least ninety days prior to the date when such review
or modification comes into effect. However, the policyholder has
the option to cancel the policy, if not agreed with the revised
instalment premium for this plan.
The instalment premium for both the optional riders is however
guaranteed throughout the term for which cover is provided.
7. Sample Illustrative Premium:
Tables below give an indicative annual premium, for all health
benefits corresponding to an Initial Daily Benefit of ` 5000 per
day, for some of the ages in respect of various lives that can be
covered under a single policy:
PRINCIPAL INSURED (Male)
Age at entry Premium (`)
20 7,884
30 9,543
40 12,381
50 17,254
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SPOUSE (Female)
Age of PI at the
time of inclusion
of Spouse
Age at entry of
Spouse
Premium (`)
30 25 7,121
35 30 8,130
50 45 12,503
55 50 14,312
CHILD
Age of PI at the
time of inclusion
of Child
Age at entry – Child Premium (`)
25 0 3,331
30 5 3,358
40 10 3,481
50 15 3,830
PARENT (Male)
Age of PI at the
time of inclusion of
other member
Age at entry –
Parent Premium (`)
25 50 16,727
30 55 19,799
35 60 22,961
40 65 26,105
The above premiums are exclusive of Taxes.
8. Modal loading and HCB Rebates:
i. Modal Loading:
Mode Loading (as a % of Tabular
Premium)
Yearly Nil
Half-yearly 1.50%
ii. HCB Rebates:
In respect of a member covered under a policy, if HCB is ` 4000
or above, then the premium arrived at in respect of that member
shall be reduced by an amount (`) given below:
HCB (`) For PI (`) For each Insured
member other than PI (`)
4000 & 4500 400 200
5000 & 5500 700 350
6000 & 6500 1000 500
7000 & 7500 1400 700
8000 & 8500 1800 900
9000 & 9500 2300 1150
10000 2800 1400
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9. Options:
I) Cover to new additional members:
If the Principal Insured gets married/ remarried during the Cover
Period, the spouse can be included in the Policy within Twelve
months from the date of marriage/remarriage, but the Cover
shall start from the policy anniversary coinciding with or next
following the date of inclusion. Enhanced premiums shall be due
from such policy anniversary.
Any child born/legally adopted after taking the Policy can
be covered from the next immediate policy anniversary date
following the date on which the child completes the age of
91 days. If the age of the legally adopted child on the date of
adoption is more than 91 days, the child can be covered from
the policy anniversary coinciding with or next following the date
of adoption. Enhanced premiums shall be due from such policy
anniversary.
Such changes will be carried out subject to receipt of the proof of
the event by the Corporation and will also be subject to fulfillment
of underwriting conditions of the Corporation. Waiting periods
and Exclusions will apply for the new Insured.
Addition in any other case will not be allowed. The existing
spouse, parents, and children, if not covered at the time of taking
policy, shall not be covered under the policy.
If both of the parents (father and mother) are alive and are eligible
for cover, then either both of them will have to be covered or
none of them will be covered. The PI will not have any option to
choose one of them.
Any addition of new lives shall be allowed by the original Principal
Insured only. After the death of original Principal Insured, no
addition will be allowed.
II) Removal of existing members:
In the event of death or divorce, an Insured may be removed
from coverage upon request by the Principal Insured in writing.
This will be effective from the instalment premium due date
coinciding with or next following the date of such a request. No
further premiums are due in respect of that Insured from such
instalment premium due date.
In any other circumstances, removal of an existing Insured will be
permitted at the sole discretion of the Corporation.
III) Option to migrate:
Children covered under this Plan shall have the option to take a
suitable new health insurance policy (subject to underwriting) on
the policy anniversary coinciding with or immediately following
the completion of 25 years of age.
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i) The new policy should be purchased within 90 days of the
termination of child’s cover from the existing policy.
ii) The Insured member shall be eligible for suitable credits
gained for pre-existing conditions and time bound exclusions
for all the previous years, provided the policy is in-force. The
outstanding Waiting periods and outstanding period of any
Exclusion will however apply under the new policy.
iii) These credits shall be available up to a maximum of the
current SA level under the existing policy.
iv) Other terms and conditions including premium rates will be
as applicable for the new policy.
IV) Quick Cash facility:
If any of the insured lives undergoes any eligible surgery falling
under Category 1 or Category 2 (as mentioned in the Major
Surgical Benefit Annexure) of Major Surgical Benefit, in any of the
listed network hospitals, the PI will have an option to avail Quick
Cash facility. Under this facility, 50% of eligible Major Surgical
Benefit amount would be made available even during the period
of hospitalization of any of the insured lives covered (the surgery
may be either planned or emergency due to accident) instead
of waiting for making a claim for the benefit after discharge. It
will be only an advance payment to the Principal Insured in the
event of hospitalization for any Major Surgical Benefit defined
in the surgeries listed under categories 1 or 2 (as mentioned in
the Major Surgical Benefit Annexure) and permissible under the
policy conditions of the Plan. This will be, however, subject to
approval from the Corporation, and the advance amount will be
adjusted from the final settlement of Major Surgical Benefit claim
amount.
This facility of advance payment could be availed by submitting
the Bank Account details of the Principal Insured in the prescribed
format. The amount of advance shall be credited in the Principal
Insured’s bank account directly.
V) LIC’s New Term Assurance Rider (512B210V01):
Original PI and/ or Insured Spouse may opt for Term Assurance
as optional rider up to the MSB SA. This rider is available at the
time of inception/inclusion into the policy. This benefit shall be
available only till the policy anniversary on which the age nearer
birthday of the Insured is 75 years or for a term of 35 years starting
from the date of cover commencement, whichever is earlier. In
case of unfortunate death, an amount equal to Term Assurance
Sum Assured will be payable on death during the term for which
Term Assurance Rider is opted for. For more details on the above
riders, refer to the rider brochure or contact LIC’s nearest Branch
Office.
VI) LIC’s Accident Benefit Rider (512B203V03):
Original PI and/ or Insured Spouse may also opt for Accident
Benefit Rider if Term Assurance Rider has been opted for.
Maximum Accident Benefit Sum Assured shall be equal to the
Term Assurance Rider SA. LIC’s Accidental Benefit Rider can be
16
opted for at any time provided the outstanding premium paying
term of the LIC’s New Term Assurance Rider is atleast five years but
before the policy anniversary on which the age nearer birthday of
life assured is 65 years. In case of unfortunate death due to an
accident, a sum equal to the Accident Benefit Sum Assured shall
be payable.
Accident Benefit Rider will be available under the Plan by
payment of additional premium of ` 0.50 (exclusive of taxes) for
every ` 1,000/- of the Accident Benefit Sum Assured per policy
year in respect of each life to be covered.
The additional premium for this benefit will not be required to be
paid on and after the Policy anniversary on the expiry of LIC’s New
Term Assurance Rider or LIC’s Accident Benefit Rider, whichever
is earlier. For more details on the above riders, refer to the rider
brochure or contact LIC’s nearest Branch Office.
10. Other Features:
A) Grace Period: A grace period of 30 days will be allowed for
payment of yearly or half yearly premiums.
If premium is not paid before the expiry of the days of grace, the
Policy lapses and all the benefits payable under this Plan will
cease.
B) Revival: A policy lapsed due to non-payment of premiums may be
revived by the PI within a period of 5 consecutive years from the
due date of first unpaid premium but before the expiry of cover
in respect of PI.
There may be a possibility that while premiums are not required to
be paid in respect of one or more Insured(s) due to continuation of
AHC period, premiums in respect of one or more other Insured(s)
become payable, either because AHC benefit is not triggered or
AHC period is completed in respect of such Insured(s). Under
such circumstances, the revival shall be applicable in respect
of all those Insured(s) for whom the premiums are due but not
paid within the grace period. The cover in respect of such Insured
member(s) may be revived on the request of the PI within a period
of 5 consecutive years from the due date of their respective first
unpaid premium but before the expiry of cover in respect of PI
as well as that of such Insured(s). The Insured member shall be
exited from the policy if the cover is not revived within 5 years of
the First Unpaid Premium for such a member.
The revival shall be effected on payment of all the arrears of
premium(s) as applicable together with interest (compounding
half-yearly) at such rate as may be fixed by the Corporation from
time to time and on satisfaction of Continued Insurability of
each such Insured whose cover is to be revived on the basis of
information, documents and reports that are already available
and any additional information in this regard if and as may be
required in accordance with the Underwriting Policy of the
17
Corporation at the time of revival, being furnished by the Principal
Insured/Insured.
Waiting periods and Exclusions, as described in Para 17 and 18
respectively, will apply on revival.
The Corporation reserves the right to accept at original
terms, accept with modified terms or decline the revival of a
discontinued policy/revival of cover of Insured member(s). The
revival of the discontinued policy shall take effect only after the
same is approved, accepted and revival receipt is issued by the
Corporation.
The rate of interest applicable for revival under this Plan for every
12 months’ period from 1st May to 30th April shall not exceed
10-year G-Sec Rate as p.a. compounding half-yearly as at the last
trading day of previous financial year plus 300 basis points. For the
12 months’ period commencing from 1st May, 2020 to 30th April,
2021 the applicable interest rate shall be 9.5% p.a. compounding
half-yearly.
Revival of Rider(s), if opted for, will only be considered along with
the revival of the Base Policy and not in isolation.
No benefit will be paid for an event that occurred during the
lapse period till the Date of Revival when the Policy/cover was in
a discontinued state.
Further, if the premium review date(s) falls between the revival
period and revival is done after the Premium Review Date, the
premium before and after the Premium Review Date may be
different on account of revision in rates. In such case, premium
rate as applicable on respective due dates shall apply. However,
there shall be no change in premium rates if the revival is effected
before the premium review date.
The policy will terminate at the end of revival period if the same
is not revived. No revival of policy/cover will be allowed after the
expiry of revival period.
C) Surrender:
No surrender value will be available under the Plan.
11. Free Look period:
If you are not satisfied with the “Terms and Conditions” of the
policy, you may return the policy to us within 15 days from the
date of receipt of the policy bond stating the reasons of objection.
The Corporation will cancel the policy and return the premium
paid subject to the following deductions: 1) Stamp duty on the
policy 2) Proportionate Risk Premium (for Base Policy (shall not
be applicable during the waiting period) and Rider(s), if opted for)
for the period of cover 3) Any expense borne by the Corporation
on medical examination and special reports, if any of the Insured
persons.
18
12. Loan:
No loan will be available under this Plan.
13. Assignment:
No Assignment will be allowed under this Plan.
14. Benefit Limits and Conditions:
I. Hospital Cash Benefit Limits and Conditions:
i. The Hospital Cash Benefit shall be payable only if
Hospitalisation has occurred within India.
ii. The total number of days for which hospital cash benefit
would be payable, in respect of each Insured, in a Policy Year
would be restricted to –
a. A maximum of 30 (thirty) days of Hospitalization
(inclusive of stay in Intensive Care Unit) in the first Policy
Year following the Effective Date of Cover in respect of
that Insured.
b. A maximum of 90 (ninety) days of Hospitalization
(inclusive of stay in Intensive Care Unit) in the second
and subsequent Policy Years following the Effective Date
of Cover in respect of that Insured.
Hospital Cash Benefit paid for hemodialysis and radiotherapy
will also be included under this maximum limit.
iii. The total number of days of Hospitalization for which
Hospital Cash Benefit is payable during the Cover Period, in
respect of each and every Insured covered under the policy,
shall be limited to a maximum of 900 (nine hundred) days
(inclusive of stay in Intensive Care Unit). Upon attainment of
this limit by an Insured, the Hospital Cash Benefit in respect
of that Insured shall cease immediately.
iv. The Benefit Limits specified in the above clauses in respect of
an Insured under the Policy, shall solely and exclusively apply
to that Insured. Any unclaimed Hospital Cash Benefit of any
one Insured is not transferable to any other Insured.
v. The Hospital Cash Benefit shall not be payable in the event
of an Insured undergoing any specified Day Care Procedure
(as mentioned in the Day Care Procedure Benefit Annexure)
except for maintenance hemodialysis and radiotherapy.
vi. Though hemodialysis and radiotherapy are Day Care
Procedure, the Hospital Cash Benefit shall also be payable for
these two procedures even if stay in hospital/day care centre
is less than 24 hrs.
II. Major Surgical Benefit Limits and Conditions:
i. If more than one Surgery is performed on the Insured, during
the same surgical session, the Corporation shall pay 100%
as per the category in respect of the most severe Surgery
performed and for other surgeries 25% of the eligible
amount shall be paid. This benefit shall be paid for each
of the additional surgery done in the single session and is
subject to the overall annual and lifetime limits.
ii. The Major Surgical Benefit shall be paid as a lump sum as
19
specified for the benefit concerned and is subject to providing
proof of Surgery to the satisfaction of the Corporation.
iii. All Surgical Procedures claimed should be confirmed as
essential and required, by a qualified Physician or Surgeon,
to the satisfaction of the Corporation.
iv. The Major Surgical Benefit will be payable only after the
Corporation is satisfied on the basis of medical evidence
that the specified Surgery covered under the Plan has been
performed.
v. The Major Surgical Benefit shall be payable only if the Surgery
has been performed within India.
vi. The total amount payable in respect of each Insured under
the Major Surgical Benefit in any Policy Year during the Cover
Period shall not exceed 100% of the Major Surgical Benefit
Sum Assured in that Policy year. In the event that the Major
Surgical Benefit Sum Assured is exhausted in a policy year the
next Major Surgical Benefit claim shall be subject to Major
Surgical Benefit Restoration as specified in Para 1.II.c above.
vii. The total amount payable in respect of each Insured during
the Cover Period under the Major Surgical Benefit shall not
exceed a maximum limit of 1000% of the Major Surgical
Benefit Sum Assured i.e. 1000 times the ADB applicable for
the policy year in which the claim arises. If the total amount
paid in respect of an Insured equals this lifetime maximum
limit, the Major Surgical Benefit in respect of that Insured will
cease immediately.
viii. The Benefit Limits specified in the above clauses in respect of
an Insured under this Policy, shall solely and exclusively apply
to that Insured. Any unclaimed Major Surgical Benefit of any
one Insured is not transferable to any other Insured.
ix. The Major Surgical benefit for any surgery cannot be claimed
and shall not be payable more than once for the same
surgery during the Cover Period. Also, PTCA (Percutaneous
Transluminal Coronary Angioplasty) conducted under
multiple sittings cannot be claimed and shall not be payable
more than once.
x. If Major Surgical Benefit is payable, Medical Management
Benefit would not be payable for the same event of
hospitalization.
In addition, the following benefits and limits are applicable:
a) Ambulance Benefit Limits and Conditions:
The lumpsum payable in case of Ambulance transportation
expenses shall be payable for covered Major Surgical
Benefit in respect of each Insured, provided the ambulance
transportation is medically necessary and is subject to
providing satisfactory evidence to the Corporation.
b) Major Surgical Benefit Restoration Benefit Limits and
Conditions:
i. In any Policy Year during the Cover Period in respect of
each Insured, only the first Major Surgical Benefit claim post
exhaustion of 100% of Major Surgical Benefit Sum Assured,
20
would be payable in line with the applicable benefit payout
level (as mentioned in the Major Surgical Benefit Annexure)
for the covered procedure.
ii. The Major Surgical Benefit Restoration claim shall be paid
as a lump sum as specified for the benefit concerned and is
subject to providing proof of Surgery to the satisfaction of
the Corporation.
iii. All Surgical Procedures claimed should be confirmed as
essential and required, by a qualified Physician or Surgeon,
to the satisfaction of the Corporation.
iv. The Major Surgical Benefit Restoration claim will be payable
only after the Corporation is satisfied on the basis of medical
evidence that the specified Surgery covered under the Plan
has been performed.
v. The Major Surgical Benefit Restoration claim shall be payable
only if the Surgery has been performed within India.
vi. The Major Surgical Benefit Restoration claim shall be payable
only once in any Policy year in respect of each Insured i.e., the
total amount payable in respect of each Insured under such
Major Surgical Benefit Restoration claim in any Policy Year
during the Cover Period shall not exceed 100% of the Major
Surgical Benefit Sum Assured in that Policy year.
vii. The Major Surgical Benefit Restoration claim shall be payable
only up to a maximum of 10 (ten) times during the Cover
Period in respect of each Insured.
viii. The Benefit Limits specified in the above clauses in respect of
an Insured, shall solely and exclusively apply to that Insured.
Any unclaimed Major Surgical Benefit Restoration claim on
any one Insured is not transferable to any other Insured.
III. Day Care Procedure Benefit Limits and Conditions:
i. If more than one Day Care Procedure is performed on the
Insured, through the same incision or by making different
incisions, during the same surgical session, the Corporation
shall only pay for one Day Care Procedure performed.
ii. The Day Care Procedure Benefit shall be paid as a lump sum
and is subject to providing proof of Surgery/Procedure to the
satisfaction of the Corporation.
iii. All Day Care Procedures claimed should be confirmed as
essential and required, by a qualified Physician or Surgeon,
to the satisfaction of the Corporation.
iv. The Day Care Procedure Benefit will be payable only after the
Corporation is satisfied on the basis of medical evidence that
the specified Day Care Procedure covered under the Plan has
been performed.
v. The Day Care Procedure Benefit shall be payable only if the
Day Care Procedure has been performed within India.
vi. In respect of each Insured, the Day Care Procedure Benefit
will be payable only up to a maximum of 3 (three) Day Care
Procedures in any Policy Year during the Cover Period.
21
vii. In respect of each Insured during the Cover Period, the Day
Care Procedure Benefit will be payable only up to a lifetime
maximum of 30 (thirty) Day Care Procedures. If the number
of Day Care Procedures eligible for the Day Care Procedure
Benefit in respect of an Insured equals this lifetime maximum
limit, the Day Care Procedure Benefit in respect of that
Insured will cease immediately.
viii. The Benefit Limits specified in the above clauses in respect of
an Insured under the Policy, shall solely and exclusively apply
to that Insured. Any unclaimed Day Care Procedure Benefit
of any one Insured is not transferable to any other Insured.
ix. If a Day Care Procedure is performed no Hospital Cash
Benefit shall be paid (except for maintenance hemo dialysis
and radiotherapy) even if the hospitalization for a day care
procedure exceeds 24 hours.
x. If Day Care Benefit is payable, Medical Management Benefit
would not be payable for the same event of hospitalization.
IV. Other Surgical Benefit Limits and Conditions:
i. If more than one Surgical Procedure is performed on the
Insured, through the same incision or by making different
incisions, during the same surgical session, the Corporation
shall only pay for one Surgical Procedure.
ii. The Other Surgical Benefit shall be paid as a Daily Benefit and
is subject to providing proof of Surgery to the satisfaction of
the Corporation.
iii. All Surgical Procedures claimed should be confirmed as
essential and required, by a qualified Physician or Surgeon,
to the satisfaction of the Corporation.
iv. The Other Surgical Benefit will be payable only after the
Corporation is satisfied on the basis of medical evidence that
the specified Surgical Procedure has been performed.
v. The Other Surgical Benefit shall be payable only if the Surgical
Procedure has been performed within India.
vi. The total number of days of Hospitalization for which the
Other Surgical Benefit is payable during a Policy Year in
respect of each and every Insured covered under the Policy
shall not exceed 15 (fifteen) days in the first Policy Year from
the Effective Date of Cover in respect of that Insured and 45
(forty five) days for the second and subsequent Policy Years
from the Effective Date of Cover in respect of that Insured.
vii. The total number of days of Hospitalization for which the
Other Surgical Benefit is payable during the Cover Period,
in respect of each and every Insured covered under the
Policy shall not exceed a lifetime maximum limit of 450 (four
hundred and fifty) days. Upon attainment of this lifetime
maximum limit, the Other Surgical Benefit in respect of that
Insured will cease immediately.
viii. The Benefit Limits specified in the above clauses in respect of
an Insured under this Policy, shall solely and exclusively apply
to that Insured. Any unclaimed Other Surgical Benefit on any
one Insured is not transferable to any other Insured.
ix. If Other Surgical Benefit is payable, Medical Management
Benefit would not be payable for the same event of
hospitalization.
22
V. Medical Management Benefit Limits and Conditions:
i. The Medical Management Benefit shall be paid as a lump sum,
subject to providing proof of hospitalization for the specified
medical condition, to the satisfaction of the Corporation.
ii. The Medical Management benefit shall be payable only if
Hospitalisation and treatment has occurred within India.
iii. In respect of each Insured, the Medical Management Benefit
would be payable maximum of 2 (two) times in each Policy
Year during the Cover Period
iv. In respect of each Insured during the Cover Period, the
Medical Management Benefit will be payable only up to a
lifetime maximum limit of 20 (twenty) times. If the Medical
Management Benefit in respect of an Insured equals this
lifetime maximum limit, the Medical Management Benefit in
respect of that Insured will cease immediately.
v. The Benefit Limits specified in the above clauses in respect of
an Insured, shall solely and exclusively apply to that Insured.
Any unclaimed Medical Management Benefit on any one
Insured is not transferable to any other Insured.
vi. Medical Management Benefit would not be payable if Major
Surgical Benefit, Other Surgical Benefit or Day Care benefits
are payable for the same event of inpatient hospitalization.
VI. Extended Hospitalization Benefit Limits and Conditions:
i. Extended Hospitalization Benefit shall be paid as a lump
sum, subject to providing proof of inpatient hospitalization
to the satisfaction of the Corporation.
ii. Extended Hospitalization Benefit shall be payable only if
Hospitalization has occurred within India.
iii. In respect of each Insured, the Extended Hospitalization
Benefit would be payable maximum of 1 (one) time in each
Policy Year during the Cover Period
iv. In respect of each Insured during the Cover Period, the
Extended Hospitalization Benefit will be payable only up to
a lifetime maximum limit of 10 (ten) times. If the Extended
Hospitalization Benefit in respect of an Insured equals this
lifetime maximum limit, the Extended Hospitalization Benefit
in respect of that Insured will cease immediately.
v. The Benefit Limits specified in the above clauses in respect of
an Insured under the Policy, shall solely and exclusively apply
to that Insured. Any unclaimed Hospital Cash Benefit of any
one Insured is not transferable to any other Insured.
VII. Health Check-up Benefit Limits and Conditions:
i. In respect of each Insured, the Health Check-up Benefit would
be payable only once every 3 (three) Policy Year during the
Cover Period.
ii. The Benefit Limits specified in the above clauses in respect of
an Insured, shall solely and exclusively apply to that Insured.
Any unclaimed Health Check-up Benefit on any one Insured
is not transferable to any other Insured.
iii. Health Check-up Benefit shall be payable only if the Health
Check-up is done within India.
————————————————————————————-
23
A short summary of Benefits and their Limits, subject to terms and
conditions mentioned in this document, are as under:
S.
No. Benefits Event Amount of
Benefit
Annual
Benefit
Limit
Lifetime
Maximum
Benefit
Limit
Additional Benefit(s) payable
1
Hospitalisation
Cash Benefit
(HCB)
Hospitalisation
(Non ICU ward)
Applicable Daily
Benefit (ADB)
for each day of
hospitalisation
Year 1:
30 days
Year 2
onwards:
90 days
900 Days
i. Extended Hospitalisation
Benefit as mentioned under
S. No. 6 below, if applicable.
Hospitalisation
(ICU ward)
Two times of
ADB for each day
of hospitalisation
2 Major Surgical
Benefit (MSB)
Undergoing
a Surgical
Procedure (as
mentioned in
MSB Annexure)
in a Hospital
Lump Sum
Benefit equal
to percentage
of MSB Sum
Assured based
on the surgery
performed;
where MSB Sum
Assured is 100
times of ADB
100% of
MSB Sum
Assured.
10 times the
MSB Sum
Assured.
i. HCB based on the length of
stay in the hospital.
ii. Ambulance Benefit: Lump
sum of Rs 1,000 payable if
ambulance service is availed.
iii. Premium Waiver Benefit:
Total one year premium
will be waived if MSB
falling under Category 1 or
Category 2 is performed.
iv. MSB Restoration: On
exhaustion of annual limit of
100% of MSB Sum Assured,
next MSB claim in that policy
year shall also be covered
(subject to maximum of
10 times during the Cover
period).
v. Extended Hospitalisation
Benefit as mentioned under
S. No. 6 below, if applicable.
3
Day Care
Procedure
Benefit
(DCPB)
Undergoing
a Day Care
Procedure (as
mentioned in
DCPB Annexure)
in a Hospital or
Day Care centre
Lump Sum
Benefit equal to
5 times of ADB
3-day care
procedures
30-day care
procedures
i. HCB shall be payable only
if DCPB is hemodialysis or
radiotherapy.
ii. Extended Hospitalisation
Benefit as mentioned under
S. No. 6 below, if applicable.
4 Other Surgical
Benefit (OSB)
Undergoing
any Surgical
Procedure other
than those
mentioned
under MSB
and DCPB in a
Hospital
2.5 times of ADB
for each day of
hospitalisation
Year 1:
15 days
Year 2
onwards: 45
days
450 Days
i. HCB based on the length of
stay in the hospital.
ii. Extended Hospitalisation
Benefit as mentioned under
S. No. 6 below, if applicable.
5
Medical
Management
Benefit (MMB)
Inpatient
Hospitalisation
due to Dengue/
Malaria/
Pnuemonia/
Pulmonary
Tuberculosis /
Viral Hepatitis A
Lump Sum
Benefit equal to
2.5 times of ADB
2 times 20 times
HCB based on the length of stay
in the hospital.
6
Extended
Hospitalisation
Benefit (EHB)
Single period
hospitalisation
in excess of 30
days (Payable
in addition to
HCB,MSB,OSB
and DCPB)
Lump Sum
Benefit equal to
10 times of ADB
1 time 10 times –
7 Health Check
Up Benefit
Actual costs subject to a maximum of one-half of ADB once in every 3 years
————————————————————————————-
24
15. Commencement and Termination of Benefit Covers:
The Hospital Cash Benefit, Major Surgical Benefit, Day Care
Benefit, Other Surgical Benefit, Medical Management Benefit and
Extended Hospitalization Benefit cover in respect of each Insured
covered under your policy shall commence on their respective
Effective Date of Cover.
The Hospital Cash Benefit, Major Surgical Benefit, Day Care
Procedure Benefit, Other Surgical Benefit, Medical Management
Benefit and Extended Hospitalization Benefit cover in respect of
each Insured shall terminate at the earliest of the following:
i. The Date of Cover Expiry;
ii. On death of the Insured;
iii. On attaining the lifetime maximum Benefit Limits as specified
in Para 14. above;
iv. In respect of the Insured Spouse, on divorce or legal
separation from the Principal Insured;
v. On non-payment of premium within the revival period in
respect of such Insured;
vi. On termination of the Policy due to non-payment of
premium/absence of any eligible PI under the Policy/ any
other reason.
16. Termination of Policy:
A) If policy is issued on single life:
The policy shall terminate at the earliest of the following:
i. Non-payment of premiums within the revival period;
ii. On death;
iii. On the Date of Cover Expiry;
iv. On exhausting all the lifetime maximum Benefit Limits as
specified in Para 14 above;
v. On payment of free look cancellation amount;
vi. If the Policyholder cancels the Policy after premium review,
if any;
vii. On grounds of misrepresentation, fraud, non-disclosure, or
non-cooperation of the insured.
B) If policy is issued on more than one life:
The policy shall terminate at the earliest of the following:
i. Non-payment of premiums in respect of each Insured
member within the revival period;
ii. If AHC is not being available to any of the Insured, on exit of
last successive PI;
iii. If AHC is being available in respect of any of the Insured, on
exit of last successive PI and thereafter on the earliest of the
following in respect of the last eligible Insured member:
a. expiry of AHC period;
b. on death;
c. on exhaustion of all the lifetime maximum Benefit Limits
as specified in Para 14 above;
iv. On payment of free look cancellation amount;
v. If the Policyholder cancels the policy after premium review, if
any;
25
vi. On grounds of misrepresentation, fraud, non-disclosure or
non-cooperation of any of the insured.
17. Waiting Period:
General waiting period:
There shall be no general waiting period in case Hospitalization
or Surgery is due to Accidental Bodily Injury occurring on or after
the Effective Date of Cover of the policy. There shall be a general
waiting period during which no benefits shall be payable in the
event of Hospitalization or Surgery, if the said Hospitalization or
Surgery occurred due to Sickness.
i. The general waiting period shall be 90 (ninety) days from the
Effective Date of Cover in respect of each Insured.
ii. If the policy/cover in respect of Insured member(s) is revived
after discontinuance of the Cover then the following shall
apply in respect of each Insured:
a. If the request for revival is received by the Corporation
within 90 (ninety) days from the due date of the first
unpaid premium, then there shall be a general waiting
period of 45 (forty-five) days from the Date of Revival in
respect of each Insured.
b. If the request for revival is received by the Corporation
beyond 90 (ninety) days from the due date of the first
unpaid premium, then there shall be a general waiting
period of 90 (ninety) days from the Date of Revival in
respect of each Insured.
Specific waiting period:
In addition, in respect of each Insured, no benefits are available
hereunder and no payment will be made by the Corporation
for any claim under the Policy on account of Hospitalization or
Surgery directly or indirectly caused by, based on, arising out of or
howsoever attributable to any of the following during the specific
waiting period:
i. Treatment for adenoid or tonsillar disorders
ii. Treatment for anal fistula or anal fissure
iii. Treatment for benign enlargement of prostate gland
iv. Treatment for benign uterine disorders like fibroids, uterine
prolapse, dysfunctional uterine bleeding etc
v. Treatment for Cataract
vi. Treatment for Gall stones
vii. Treatment for slip disc
viii. Treatment for Piles
ix. Treatment for Benign Thyroid Disorders
x. Treatment for Hernia
xi. Treatment for Hydrocele
xii. Treatment for Degenerative Joint Conditions
xiii. Treatment for Sinus Disorders
xiv. Treatment for Kidney or Urinary Tract Stones
xv. Treatment for Varicose Veins
xvi. Treatment for Carpal Tunnel Syndrome
xvii. Treatment for Benign Breast Disorders e.g. Fibroadenoma,
Fibrocystic disease etc
26
xviii. Treatment for Benign Ovarian disorders
xix. Treatment for Gastric/Duodenal Ulcer
xx. Treatment for Retinal disorders
xxi. Treatment for Knee/Joint Replacement Surgery (other than
caused by an accident)
xxii. Treatment for Osteoporosis or Osteoarthritis
xxiii. Treatment for Chronic renal failure or end stage renal failure
xxiv. Treatment for Internal Congenital disease or defects or
anomalies
The specific waiting period in respect of the treatments specified
in the list above shall be as follows:
i. The specific waiting period shall be 2 (two) years from the
Effective Date of Cover in respect of each Insured.
ii. If the policy/cover in respect of Insured member(s) is revived
after discontinuance of the Cover then the following shall
apply in respect of each Insured:
a. If the request for revival is received by the Corporation
within 90 (ninety) days from the due date of the first
unpaid premium, then the specific waiting period shall
continue to be till 2 (two) years from the Effective Date
of Cover in respect of each Insured.
b. If the request for revival is received by the Corporation
beyond 90 (ninety) days from the due date of the first
unpaid premium, then there shall be a specific waiting
period of 2 (two) years from the Date of Revival in
respect of each Insured.
18. Exclusions:
No benefits are available hereunder and no payment will be
made by the Corporation for any claim under this policy on
account of hospitalization or surgery directly or indirectly caused
by, based on, arising out of or howsoever attributable to any of
the following:
1. Any Pre-existing Condition unless disclosed to and accepted
by the Corporation prior to the Effective Date of Cover or
the Date of Revival (if the Policy/cover in respect of Insured
member(s) is revived after discontinuance of the Cover).
2. Any treatment or Surgery not performed by a Physician/
Surgeon or any treatment or Surgery of a purely experimental
nature.
3. Any experimental or unproven pharmacological regimens
or usage of any unproven treatment devices; any conditions
(injuries or illnesses) arising due to advocation of any
experimental or unproven pharmacological regimens or
treatment devices or diagnostic tests.
4. Admission, diagnosis, or treatment in a Hospital outside
India. Admission into a Hospital for routine examination,
preventive medical check-up, vaccinations or any medical
examination that are customarily carried out on an Out
Patient Basis.
5. Any Surgery/ Surgical Procedure carried out purely for the
purposes of diagnosis, screening and investigation, e.g.
27
lower/upper GI Endoscopy or true- cut needle biopsy unless
otherwise specified.
6. Admission into a hospital for any cosmetic, plastic surgery,
aesthetic, or related treatment of any type, also including any
complications attributable to such treatments, irrespective
of the reason behind such treatment, unless medically
necessary for the treatment of illness or as a result of an injury
or accident and performed within 6 months of the same.
7. Hospitalisation Surgery for donation of an organ by donor.
8. Any dental examination, surgery, or treatment except as
necessitated due to any accident.
9. Convalescence, general debility, rest cure, external
congenital disease or defect or anomaly, sterilization or
infertility (diagnosis and treatment), any sanatoriums, spa or
rest cures or long-term care or hospitalization undertaken as
a preventive or recuperative measure or for sole purpose of
physiotherapy.
10. Any claim arising out of any condition directly or indirectly
due to attempted suicide or intentional self-inflicted injury,
by the life insured, whether sane or not at the time.
11. Life insured being under the influence of drugs, alcohol,
narcotics, or psychotropic substance, not prescribed by a
Registered Medical Practitioner.
12. Removal or correction or replacement of any material/
prosthesis/medical devices that was implanted in a former
surgery before Effective Date of Cover or Date of Revival (if
the Policy/cover in respect of Insured member(s) is revived
after discontinuance of the Cover).
13. Any diagnosis or treatment arising from or traceable to
pregnancy (This exclusion does not apply in case of ectopic
pregnancy), childbirth including caesarean section, medical
termination of pregnancy and/or any treatment related to
pre and post-natal care of the mother or the new born.
14. Any treatment directly or indirectly arising from or
consequent to War (declared or undeclared), invasion, act of
foreign enemy, hostilities (declared or undeclared), civil war,
riots, civil commotion, rebellion, revolution, or any warlike
operations / terrorism / acts of terrorism.
15. Any claim occurring as a direct or indirect result of Service
in the military/ para- military, naval, air forces or police
organizations and participation in operations requiring the
use of arms or which are ordered by such authorities for
combating terrorists, rebels, and the like.
16. Any natural peril (including but not limited to avalanche,
earthquake, volcanic eruptions, or any kind of natural hazard).
17. Any claim in respect of treatment due to conditions arising
out of Life Insured engaging in or taking part in professional
sport(s) or competitive sports or any hazardous pursuits,
including but not limited to, diving or riding or any kind of
race; underwater activities involving the use of breathing
apparatus or not; martial arts; hunting; mountaineering;
parachuting; bungee-jumping, racing, scuba diving, aerial
sports.
18. Any treatment directly or indirectly arising from Exposure of
28
life assured to Radioactive, explosive, or hazardous nature of
nuclear fuel materials or property contaminated by nuclear
fuel materials or Accident arising from such nature.
19. Any treatment directly or indirectly arising from or
consequent to Participation by the life insured in a criminal
or unlawful act.
20. Any conditions resulting from failure to seek or follow
reasonable medical advice. “Reasonable Medical Advice”
refers to tests or treatments as recommended by a Medical
Practitioner that a prudent person would normally undergo.
21. Any claim arising as a direct or indirect consequence of
Participation by the life insured in any flying activity other
than as a bona fide passenger (whether paying or not), in a
licensed aircraft provided that the life insured does not, at
that time, have any duty on board such aircraft.
22. Admission into a Hospital for supply or fitting of eyeglasses
or hearing aids. LASIK / PRK / Phakik IOL implants or any other
procedures carried out for purpose of correcting refractive
errors like Myopia.
23. Admission into a Hospital for diagnosis and Treatment of
sterility, any fertility, sub-fertility or assisted conception
procedure or birth control/contraceptive measures or of a
sexually transmitted / veneral disease.
24. Admission into a Hospital for a sex change operation.
25. Any stem cell therapies.
26. Hormone replacement therapy.
27. Any treatment related to sleep disorder or Sleep Apnoea
Syndrome, obesity and any other weight control
programmed.
28. Pre and Post Hospitalization treatment will not be payable.
29. Treatment for any illness or injury where the period of
confinement in a hospital is less than twenty-four hours
(excludes day care procedures and HCB paid out to
hemodialysis/ radiotherapy.)
30. General Waiting Period of 90 days/45 days as specified in Para
17 shall be applicable for all the benefits covered under the
Plan except in case of Hospitalisation due to an accident or
a trauma which occurred after the inception of the policy
where this waiting period will not apply.
31. Specific Waiting Period of 24 months as specified in Para 17
for certain conditions and procedures and any complications
arising out of them will apply to all benefits covered under
the Plan.
19. Taxes:
Statutory Taxes, if any, imposed on such insurance plans by the
Government of India or any other constitutional Tax Authority of
India shall be as per the Tax laws and the rate of tax shall be as
applicable from time to time.
The amount of applicable taxes as per the prevailing rates, shall
be payable by the Policyholder on premiums including extra
29
premiums, if any, and shall be collected separately over and
above in addition to the premiums payable by the policyholder.
The amount of tax paid shall not be considered for the calculation
of benefits payable under the Plan.
Regarding Income tax benefits/implications on premium(s) paid
and benefits payable under this Plan, please consult your tax
advisor for details.
SECTION 45 OF THE INSURANCE ACT, 1938:
The provision of Section 45 of the Insurance Act, 1938 shall be
applicable as amended from time to time. The simplified version of
this provision is as under:
Provisions regarding policy not being called into question in terms of
Section 45 of the Insurance Act, 1938 are as follows:
1. No Policy of Life Insurance shall be called in question on any
ground whatsoever after expiry of 3 years from
a. the date of issuance of policy or
b. the date of commencement of risk or
c. the date of revival of policy or
d. the date of rider to the policy
whichever is later.
2. On the ground of fraud, a policy of Life Insurance may be called
in question within 3 years from
a. the date of issuance of policy or
b. the date of commencement of risk or
c. the date of revival of policy or
d. the date of rider to the policy
whichever is later.
For this, the insurer should communicate in writing to the insured
or legal representative or nominee or assignees of insured, as
applicable, mentioning the ground and materials on which such
decision is based.
3. Fraud means any of the following acts committed by insured or
by his agent, with the intent to deceive the insurer or to induce
the insurer to issue a life insurance policy:
a. The suggestion, as a fact of that which is not true and which
the insured does not believe to be true;
b. The active concealment of a fact by the insured having
knowledge or belief of the fact;
c. Any other act fitted to deceive; and
d. Any such act or omission as the law specifically declares to be
fraudulent.
4. Mere silence is not fraud unless, depending on circumstances of
the case, it is the duty of the insured or his agent keeping silence
to speak, or silence is in itself equivalent to speak.
5. No Insurer shall repudiate a life insurance Policy on the ground of
Fraud, if the Insured / beneficiary can prove that the misstatement
30
was true to the best of his knowledge and there was no deliberate
intention to suppress the fact or that such mis-statement of or
suppression of material fact are within the knowledge of the
insurer. Onus of disproving is upon the policyholder, if alive, or
beneficiaries.
6. Life insurance Policy can be called in question within 3 years on
the ground that any statement of or suppression of a fact material
to expectancy of life of the insured was incorrectly made in the
proposal or other document basis which policy was issued or
revived or rider issued. For this, the insurer should communicate
in writing to the insured or legal representative or nominee
or assignees of insured, as applicable, mentioning the ground
and materials on which decision to repudiate the policy of life
insurance is based.
7. In case repudiation is on ground of mis-statement and not on
fraud, the premium collected on policy till the date of repudiation
shall be paid to the insured or legal representative or nominee or
assignees of insured, within a period of 90 days from the date of
repudiation.
8. Fact shall not be considered material unless it has a direct bearing
on the risk undertaken by the insurer. The onus is on insurer to
show that if the insurer had been aware of the said fact, no life
insurance policy would have been issued to the insured.
9. The insurer can call for proof of age at any time if he is entitled to do
so and no policy shall be deemed to be called in question merely
because the terms of the policy are adjusted on subsequent proof
of age of life insured. So, this Section will not be applicable for
questioning age or adjustment based on proof of age submitted
subsequently.
[Disclaimer: This is not a comprehensive list of Section 45 of the
Insurance Act, 1938 and only a simplified version prepared for
general information. Policy Holders are advised to refer to the
Section 45 of the Insurance Act, 1938, for complete and accurate
details.]
PROHIBITION OF REBATES SECTION 41 OF THE INSURANCE ACT,
1938:
1) No person shall allow or offer to allow, either directly or
indirectly, as an inducement to any person to take out or renew
or continue an insurance in respect of any kind of risk relating to
lives or property in India, any rebate of the whole or part of the
commission payable or any rebate of the premium shown on the
policy, nor shall any person taking out or renewing or continuing
a policy accept any rebate, except such rebate as may be allowed
in accordance with the published prospectuses or tables of the
insurer:
2) Any person making default in complying with the provisions of
this section shall be liable for a penalty which may extend to ten
lakh rupees.