Life Insurance Corporation of India (LIC) has introduced health guard, A non-linked, non-participating, regular premium, individual, health insurance plan. The plan provides fixed benefit health insurance cover against certain specified health risks. It provides timely assistance in case of medical emergencies and helps the insured and his family to remain financially independent in tough times.
Features of Arogya Rakshak Policy:
- Arogya Rakshak policy is different from regular comprehensive health insurance in terms of mode of payment reimbursement.
- Generally, comprehensive health policies reimburse the actual expenses incurred on medical treatment to the extent of the sum insured.
- On the other hand, Arogya Rakshak policy pays a lump sum benefit equal to the sum insured irrespective of the actual medical treatment cost.
- Individuals can insure themselves (as principal insured), His/her spouse, all children and parents under the same policy.
- The policy is available between the ages of the principal insured/spouse/parents 18 and 65, and children of age 91 days to 20 years.
- Cover period available to the principal insured/spouse/parent. Till then 80 years, While it is available for children up to 25 years only.
Important facts for all competitive exams: