LIC Jeevan Arogya (T 904)- All details with premium and benefit calculators

LIC Jeevan Arogya (T 904) is the one and only health insurance plan from the public sector insurer, Life Insurance Corporation (LIC) of India. LIC’s Jeevan Arogya is a non – linked health insurance plan which provides fixed benefits for hospitalisation and almost all types of surgical procedures. Benefits provided in this policy is irrespective of the actual expenses incurred and is in addition to any other health insurance cover that insured may have. In other words LIC’s Jeevan Arogya is not a competitor to medi-claim and similar health insurance plans but it is a complementary product to it.

Benefits offered under LIC Jeevan Arogya (T 904) plan are
  1. Hospital Cash Benefit (HCB)
  2. Major Surgical Benefit (MSB)
  3. Day Care Procedure Benefit (DCPB)
  4. Other Surgical Benefit (OSB)

Apart from these four general benefits, Term Assurance Rider and Accident Benefit Rider can be availed under LIC Jeevan Arogya plan, as per the wish of the policy holder.

LIC Jeevan Arogya – Premium and benefit calculator

Jeevan Arogya – online calculator can help you by providing a clear idea on the premium required to take a new Jeevan Arogya health policy  for your entire family. It can also give you complete details on the various benefits available based on the hospital cash benefit selected for each member.

If you are unable to view the calculators here, Click to open Jeevan Arogya – Premium and Benefit calculator 

Eligibility Conditions of Jeevan Arogya (T 904)
Member Details Minimum Maximum
Age at
Entry
1.Principle insured
2.Insured Spouse
18 years 65 years
1.Parents
2.Parents in law
18 years 75 years
1.Dependant
Children
3 months
(completed)
17 years
(last birthday)
Maximum
Cover
Ceasing
Age
1.Principle insured
2.Insured Spouse
3.Insured Parents
4. Parents in law
80 Years (Last birthday)
1.Dependant
Children
25 years (Last birthday)
Rebates available for Jeevan Arogya
Mode Rebate Yearly Mode – 2% Half Yearly Mode – 1%
Hospital Cash Benefit (HCB) Rebate
HCB (Rs.) Rebate for
Principle Insured
Rebate for
Other Members
2000 500 250
3000 1000 500
4000 1500 750
Hospital Cash Benefit (HCB) in LIC Jeevan Arogya plan

Initial Daily HCB is the cash amount available for a day, if any of the insured member gets admitted in a registered hospital in the first year of the policy. The slab at which Hospital Cash Benefit (HCB) shall be available can be chosen by the policy holder from 1000,2000,3000 and 4000 at the time of taking the policy.

Two enhancements available on Initial Daily Hospital Cash Benefit (IDHCB) are

  1. 5% increase in IDHCB every year until Applicable HCB reaches 1.5 times of IDHCB
  2. 10 % additional IDHCB for every three no claim years completed till Applicable HCB reaches 1.5 times.

No hospital cash benefit shall be payable for the first 24 hours of hospitalisation. But, on the other hand, if the hospitalisation period extends for a period of 7 days or more, HCB shall be paid for first 24 hours also. Further to add, if the insured person gets admitted in ICU, twice the applicable daily cash benefit shall become payable.

Major Surgical Benefit (MSB) under LIC Jeevan Arogya

MSB shall become payable if the insured person undergoes any of the surgical procedure listed under the Major Surgical Benefit Annexure of LIC’s Jeevan Arogya plan. Amount payable varies based on the category of the surgery conducted as per the annexure.  Maximum Amount allowed for a single surgery is 100 times of applicable HCB of that particular year. Complete list of major surgeries, their categories and the amount payable for LIC Jeevan Arogya can be downloaded from here.

Day Care Procedure Benefit(DCPB) under LIC Jeevan Arogya plan

If the policy holder undergoes a surgery which is listed under Day Care Procedure Benefit List an amount equal to five times the applicable HCB will be payable to the policy holder. Complete list of the Day care procedure allowed under the scheme can be downloaded from here.

Other Surgical Benefit (OSB) under LIC’s Jeevan Arogya policy

If the policy holder undergoes a surgical procedure which is not mentioned as a Major surgery or  as a day care procedure, then an amount equal to two times  applicable HCB will be payable as Other Surgical Benefit.

Benefits Under Jeevan Arogya
Hospital Cash Benefit (HCB)
Feature Principle Insured
[PI]
Spouse, Parents and
Parents In Laws
Dependant Children
Minimum Initial
Daily Hospital
Cash Benefit
1000 1000 1000
Maximum Initial
Daily Hospital
Cash Benefit
4000 Spouse: Less than or
equal to HCB of [PI]
Less than or equal
to HCB of Spouse.
(if no spouse <= [PI])
Parents/In laws: Less than
or equal to HCB of spouse.
(if no spouse <= [PI])
Maximum Annual
Benefit- First Year
30 days (in first year) inclusive of stay in ICU
(Stay in ICU Maximum Benefit for 15 days)
Maximum Annual
Benefit- Second Year
and there after
90 days inclusive of stay in ICU (in a year)
(Stay in ICU Maximum Benefit for 45 days)
Maximum Life
time benefit
720 days inclusive of stay in ICU
(Stay in ICU Maximum Benefit for 360 days)
Major Surgical Benefit
Feature Principle Insured [PI] Spouse, Parents and
Parents In Laws
Dependant Children
Major Surgical Benefit
Sum Assured (MSB)
100 times of Applicable Daily
Hospital Cash Benefit (HCB)
100 times of Applicable Daily
Hospital Cash Benefit
100 times of Applicable Daily
Hospital Cash Benefit
Maximum Annual
Benefit (MSB)
100 times of Hospital Cash Benefit (HCB)
Maximum Life
time benefit
800 times of Hospital Cash Benefit (HCB)
Day Care Procedure Benefit (DCPB)
Principle Insured [PI] Spouse, Parents and
Parents In Laws
Dependant Children
Day Care Procedure
Benefit Payable
5 times of Applicable Daily
Hospital Cash Benefit (HCB)
5 times of Applicable Daily
Hospital Cash Benefit
100 times of Applicable Daily
Hospital Cash Benefit
Maximum Annual
Benefit (DCB)
3 surgical Procedures
Maximum life time
Benefit (DCB)
24 Surgical Procedures
Other Surgical Benefit (OSB)
Other Surgical
Benefit Payable
2 times of Applicable Daily
Hospital Cash Benefit (HCB)
2 times of Applicable Daily
Hospital Cash Benefit
2 times of Applicable Daily
Hospital Cash Benefit
Maximum Annual
Benefit (OSB)
15 days in first year and 45 days there after
Maximum Life time
Benefit (OSB)
360 Days
Example to understand premium and benefits of LIC Jeevan Arogya plan

Let us consider the example of Mr. Arun and family taking  LIC Jeevan arogya plan with following family details.

 

Principle Insured Member 1 Member 2
Name Arun Shilpa Aadhi
Relationship Self Spouse Son
Age 35 32 4
Initial Daily
HCB Considered
2000 2000 1000

Please note: Illustration shown here is just an example to understand the benefits of LIC Jeevan Arogya Policy, If you want to know the actual benefits as per your details, please use the ‘Jeevan Arogya – Calculator’ provided above.

LIC Jeevan Arogya - t 904- premium and benefit calculator all details

You can download an excel software to create a presentation similar to the one shown above from here.

Jeevan Arogya (T-904) – Income tax benefits.

Premium paid for Jeevan Arogya is eligible for income tax rebate under the section 80D of Income Tax Act. Deduction allowed under section 80 D is up to Rs. 25000 for normal people and Rs. 30000 for senior citizens. You can calculate your tax liability and tax payable using Income Tax Calculator by Insurance Funda.
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Anish L J

Anish L J is a finance, insurance and software consultant with more than 18 years of experience in these fields. He thoroughly follows developments in insurance and finance. 'INSURANCE FUNDA' (www.insurancefunda.in) is his endeavour to provide simple and solid solutions in the Insurance and Finance sectors.
Follow me

Anish L J

Anish L J is a finance, insurance and software consultant with more than 18 years of experience in these fields. He thoroughly follows developments in insurance and finance. 'INSURANCE FUNDA' (www.insurancefunda.in) is his endeavour to provide simple and solid solutions in the Insurance and Finance sectors.

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