Lic health protection plus 902

LIC’s HEALTH PROTECTION PLUS(PLAN NO 902)

A UNIQUE & COMPLETE HEALTH PLANFOR YOU

& YOUR FAMILY MEMBERS

( Launched on 29th April 2009)

LIC’s HEALTH PROTECTION PLUS

THIS PLAN

PROVIDESSAFETY OF HEALTH

ALONG WITH

ATTRACTIVE INVESTMENT OPTION


UNIT-LINKED HEALTH PLAN

BENEFITS AVAILABLE

1. HOSPITAL CASH BENEFITS (HCB)

2. MAJOR SURGICAL BENEFITS (MSB)

3. DOMICILIARY TREATMENT BENEFITS (DTB)


ELIGIBILITY

- PRINCIPAL INSURED, SPOUSE & CHILDREN ARE

ELIGIBLE AND CAN BE INCLUDED AT INCEPTION

ONLY.

- ADDITION OF MEMBERS IS ALLOWED ONLY IN CASE

OF ADOPTION /NEW BORN / MARRIAGE.


ELIGIBILITY ENTRY AGE - 18 YRS (LBD) - 55 YRS (NBD)

(FOR PRINCIPAL INSURED/SPOUSE)

- 3 MONTHS (COMPLETED) – 17 YRS ( NBD)

(FOR CHILDREN)

MAXIMUM PREMIUM

CEASING AGE - 65 YRS (NBD) FOR PRINCIPAL INSURED


MINIMUM PREMIUM

(FOR STANDARD LIVES)

If policy is issued on single life-Higher of - 5,000/- p.a. and 6 times the Hospital Cash Benefit (HCB) of PI If policy is issued on 2 lives-Higher of- 7,500/- p.a. and the arithmetic sum of 6 times the HCB of PI and 3 times the HCB of other InsuredIf policy is issued on more than 2 lives-Higher of- 10,000/- p.a. and the arithmetic sum of 6 times the HCB of PI and 3 times the HCB of each of the other Insured.

(MAXIMUM PREMIUM – NO LIMIT)


MODE OF PAYMENTS - YLY,HLY OR MLY(ECS ONLY) MODE AVAILABLE

- NO MODE REBATE

DAYS OF GRACE FOR YLY/HLY MODE : ONE CALENDER MONTH (NOT LESS THAN 30 DAYS)FOR MLY(ECS) : 15 DAYS


Hospital Cash Benefit (HCB)

FIRST YEAR – TOTAL 18 DAYS (INCL 9 DAYS IN ICU)LATER YEARS- TOTAL 60 DAYS(INCL 30 DAYS IN ICU)( 365 DAYS IN TOTAL DURING POLICY LIFE- 90 DAYS FOR CHILDREN UNTIL AGE 5)(5% INCREASE EVERY YEAR SUBJECT TO MAX 1.5 TIMES OF HCB)

AMOUNT OPTED AT THE TIME OF PROPOSAL WILL BE CALLED INITIAL DAILY BENEFIT (IDB)

MINIMUM PER DAY MAXIMUM PER DAY

PI 250/- 2500/-

SPOUSE 250/- 1500/-

CHILDREN 250/- 1500/-

(DOUBLE IN CASE OF ICU)


HCB (Contd.)

WAITING PERIOD

- 180 DAYS ( NOT APPLICABLE IN ACCIDENT)

- 90 DAYS ( AFTER REVIVAL)

- NO BENEFIT IN FIRST 48 HOURS OF HOSPITALISATION


BENEFITS MAJOR SURGICAL BENEFITS(MSB)

SUM ASSURED OF POLICY – 200 X IDBMAXIMUM MSB IN ONE YEAR – 100% SUM ASSUREDDURING TOTAL POLICY TERM – MAXIMUM 3 TIMES OF SA PER MEMBER

WAITING PERIOD :180 DAYS - ( NOT APPLICABLE IN ACCIDENT) 90 DAYS - ( AFTER REVIVAL)

ELIGIBILTY FOR CHILDERN - ON COMPLETION OF 18 YEARS


(Contd.)

BENEFITS (MSB)RATE FOR REIMURSEMENT

100% , 60% & 40% OF S. A. AS PER SURGICAL PROCEDURES

Example : 100 % SA for Open chest surgery for repair of any of the heart valves60 % SA for Total Replacement of Hip or knee joint following accident40 % SA for Partial excision of Thyroid gland

BENEFITS AVAILBLE UPTO AGE 75 FOR PI/SPOUSE AND 25 YEARS FOR CHILDREN

(FOR COMPLETE DETAILS ,SEE ORIGINAL CIRCULAR)


BENEFITS DOMICILIARY TREATMENT BENEFITS (DTB)

- ACTUAL EXPENSE SUBJECT TO MINIMUM- 2500/- - PAYABLE NOT MORE THAN 50% OF POLICY FUND - MAXIMUM TWICE IN A YEAR - ADMISSIBLE ONLY AFTER THREE YEARS PREMIUM IS PAID - THERE SHOULD BE MINIMUM ONE YEAR BALANCE IN POLICY FUND - BENEFITS WILL STOP AT EARLIER OF 1. FUND BEING EXHAUSTED 2. DEATH OF ALL INSURED OR 3. CHILDREN ATTAINING 25 YEARS OF AGE


BENEFITS PAYABLE ON DEATH

DEATH OF PI(SINGLE LIFE)/DEATH OF ALL MEMBERS –FUND VALUE TO NOMINEE OR LEGAL HEIR

DEATH OF PI(OTHER MEMBERS ALIVE) – PREMIUM STOPS, COVER ON ALL MEMBERS CONTINUES

DEATH OF INSURED MEMBER(S), OTHER THAN PI – THE PAYMENT OF PREMIUMS AND COVER FOR PI AND OTHER INSURED MEMBERS, IF ANY, SHALL CONTINUE.

DEATH OF PI AND SPOUSE - THE BENEFITS FOR CHILDREN SHALL CONTINUE AND CAN BE CLAIMED BY THE ELDEST MAJOR CHILD COVERED UNDER THE POLICY. IF ALL THE CHILDREN COVERED ARE MINOR, THEN BENEFITS WILL BE CLAIMED BY THE LEGAL GUARDIAN.


OTHER FEATURES

- AS DTB CAN BE AVAILED AFTER PAYMENT OF 3 YEARS PREMIUM,- NO SURRENDER ALLOWED ,- NO PARTIAL WITHDRAWAL ALLOWED ,- NO LOAN ALLOWED,- REVIVAL WITHIN TWO YEARS OF FUP ,- NO SWITCHING OF FUND AVAILABLE


Contd.

OTHER FEATURES- PREMIUM HOLIDAY – POLICY CAN BE REVIVED BY PAYING ONLY LATEST INSTALMENT PREMIUM PROVIDED THREE YEARS PRM ALREADY PAID AND BALANCE IN FUND IS ATLEAST EQUAL TO ONE ANNUALISED PREMIUM.

- NO BACK DATING ALLOWED.

- COOLING OFF- 15 DAYS

- NO ASSIGNMENT ALLOWED .


HEALTH PROTECTION PLUS FUND

CHARGESAllocation Charges – 30% in first yr and thereafter 6%

Policy Administration Charges – 75/- pm during first policy year &

25/- thereafter

Fund Management Charges – 1.25% pa of unit fund

HCB/MSB Premium - based on age (monthly)

For Children –MSB Charges start from 18 Yrs of age)

(Service Charges Appplicable)


FUND DETAILSPREMIUMS COLLECTED WILL BE INVESTED AFTER

DEDUCTION OF VARIOUS CHARGES - INVESTMENT IN GOVT/GOVT GUARANTEED SECURITIES/CORP DEBT

NOT LESS THAN 50% - SHORT TERM INVESTMENTS(MONEY MKT,GOVT SECS,CORP DEBT)

NOT MORE THAN 90% - INVESTMENT IN LISTED SHARES

BETWEEN 10% TO 50%

( NAV ON DAILY BASIS )

OBJECTIVE- INCOME & GROWTH WITH LOW RISK


REVIVAL/REINSTATEMENT

DUE PREMIUM NOT PAID – CHARGES FOR HCB/MSB AND

OTHERS WILL BE DEDUCTED FROM POLICY FUND, IF

AVAILABLE .

IN CASE OF INSUFFICIENT FUND IN POLICY FUND, THE

COVER OF HCB/MSB WILL BE WITHDRAWN & POLICY

WILL BE TERMINATED .


PROPOSAL FORM- OLD FORMS OF PLAN 901 CAN BE USED WITH

MODIFICATION ,- CHANGE OF NAME /PLAN NO AT EVERY PLACE ,- ITEM “H” – CHANGE TO “ HEALTH PROTECTION PLUS FUND”

PREVIOUS INSURANCE DETAILS

AS PER ANNEXURE IV FOR ALL LIVES.


TAXATION

PREMIUM PAID UNDER THE POLICY WILL BE ELIGIBLE FOR TAX REBATE UNDER SECTION 80(D) OF I.T.ACT.

UNDERWRITINGFOR


UNDERWRITING FEATURES

FOR LIC’s HEALTH PROTECTION PLUS

UNDERWRITINGFOR


SUM UNDER CONSIDERATION(SUC)-Sum Assured for MSB granted under policies taken under plan 901/902 only for the last 2 years will be clubbed as SUC.- Other plans will not be clubbed.

SUC WILL BE BASIS FOR

- calling for special reports ,- determining the limit of medical examiners ,- determining non-medical eligibility.

UNDERWRITINGFOR


AGE PROOF

Only Standard Age proof & NSAP-I

(NSAP-I – NO TERM RESTRICTION OF 25 YEARS)

UNDERWRITINGFOR


NON-MEDICAL SCHEME NON-MEDICAL ( SPECIAL & GENERAL(PROFESSIONALS))

NON-MEDICAL ( GENERAL TO OTHERS)

Age Nearer Birthday Sum Under Consideration

Up to 45 Yrs Rs. 5 Lacs

Ages between 46 and 50 years Rs. 4 Lacs

Sum Under Consideration

Age Nearer Birthday SAP NSAP-I

Up to 35 Yrs Rs. 4 Lacs Rs. 3 Lacs

Ages between 36 and 45 years Rs. 2 Lacs Rs. 1 Lacs

Ages between 46 and 50 years Rs. 1 Lacs Rs. 50,000/-

UNDERWRITINGFOR

LIC’s HEALTH PROTECTION PLUS SPECIAL MEDICAL REPORTS

Sum Under Consideration Up to 35 36 to 45 46 to 50 51 to 55

50000 to 100000 FMR FMR FMR FMR FBS RUA

100001 to 200000 FMR FMR FMR FBS RUAFMR FBS RUA ECG HBA1C

200001 to 300000 FMRFMR FBS

RUAFMR FBS RUA ECG HBA1C

FMR FBS RUA ECG HBA1C

300001 to 500000 FMR

FMR FBS RUA ECG

HBA1CFMR FBS RUA ECG HBA1C

FMR FBS RUA ECG HBA1C

CTMT

500001 to 1000000 FMR

FMR FBS RUA ECG

HBA1C

FMR FBS RUA ECG HBA1C LIPIDOGRAM

FMR FBS RUA ECG HBA1C LIPIDOGRAM


ILLUSTRATION FOR CHARGES & BENEFITS ON PREMIUM OF 15,000/-

IDB=2,500/- ON AGE OF 35,45 & 50 SA=200 X IDB=5 LACSAGE 35 45 50

HCB PREMIUM CHARGES 839.75 1232.25 1521

MSB PREMIUM CHARGES 790 1770 2675

SERVICE TAX 162.98 300.23 419.6

EDUCATION CESS 4.89 9.01 12.59

TOTAL RISK PREM 1797.61 3311.48 4628.19

POL ALLOCATION CHARGES 4500 4500 4500

POL ADMIN CHARGES 900 900 900

SERVICE TAX+ EDUC CESS 556.2 556.2 556.2

INVESTIBLE FUND 7246.19 5732.32 4415.61

TOTAL NON-RISK PRM 13202.4 11688.5 10371.81

HCB/DAYS AVAILABLE IN 1ST YEAR 18 18 18

HCB AMOUNT IN 1ST YEAR(INCL ICU) 67500 67500 67500

HCB/DAYS AVAILABLE IN 2ND YEAR 60 60 60

HCB AMOUNT IN 2ND YEAR(INCL ICU) 236250 236250 236250

MAX MSB PER YEAR 500000 500000 500000

TOTAL MSB DURING POLICY TERM 1500000 1500000 1500000

LIC’s HEALTH PROTECTION PLUSILLUSTRATION

FOR CHARGES & BENEFITS ON PREMIUM OF 15,000/-AGE OF PI=40 & HCB OPTED = 2000/-

AGE OF SPOUSE=35 & HCB OPTED = 750/- AGE OF ONE CHILD=10 & HCB OPTED = 250/-

HCB PREMIUM CHARGES 1034.73

MSB PREMIUM CHARGES 1158.50

SERVICE TAX 219.32

EDUCATION CESS 6.58

TOTAL RISK PREM 2419.13

POL ALLOCATION CHARGES 4500

POL ADMIN CHARGES 900

SERVICE TAX+ EDUC CESS 556.2

INVESTIBLE FUND 6624.67

TOTAL NON-RISK PRM 12580.87

HCB/DAYS AVAILABLE IN 1ST YEAR 18,18,18

HCB AMOUNT IN 1ST YEAR(INCL ICU) 54000,20250,6750

HCB/DAYS AVAILABLE IN 2ND YEAR 60,60,60

HCB AMOUNT IN 2ND YEAR(INCL ICU) 189000,70875,23625

MAX MSB PER YEAR 400000,150000,50000

TOTAL MSB DURING POLICY TERM 1200000,450000,150000

LIC’s HEALTH PROTECTION PLUSILLUSTRATION

FOR CHARGES & BENEFITS ON PREMIUM OF 22,500/-AGE OF PI=40 & HCB OPTED = 2500/-

AGE OF SPOUSE=35 & HCB OPTED = 1500/- AGE OF ONE CHILD=10 & HCB OPTED = 1000/-

HCB PREMIUM CHARGES 1587.95

MSB PREMIUM CHARGES 1645.00

SERVICE TAX 323.30

EDUCATION CESS 9.70

TOTAL RISK PREM 3565.94

POL ALLOCATION CHARGES 6750

POL ADMIN CHARGES 900

SERVICE TAX+ EDUC CESS 787.95

INVESTIBLE FUND 10496.11

TOTAL NON-RISK PRM 18934.06

HCB/DAYS AVAILABLE IN 1ST YEAR 18,18,18

HCB AMOUNT IN 1ST YEAR(INCL ICU) 67500,40500,27000

HCB/DAYS AVAILABLE IN 2ND YEAR 60,60,60

HCB AMOUNT IN 2ND YEAR(INCL ICU) 236250,141750,94500

MAX MSB PER YEAR 500000,300000,200000

TOTAL MSB DURING POLICY TERM 1500000,900000,600000

UNDERWRITINGFOR

LIC’s HEALTH PROTECTION PLUS – PLAN 902

USP - CLAIMS AMOUNT RECEIVED UNDER HCB/MSB ARE INDEPENDENT OF CLAIMS/REIMBURSEMENT RECEIVED FROM ANY OTHER INSURANCE COMPANIES- BENEFIT AVAILABLE UNDER HCB/MSB ARE INDEPENDENT OF ACTUAL EXPENDITURE INCURRED.- A PERSON CAN TAKE A HEALTH PROTECTION PLUS PLAN FOR 5 LACS EVEN IF HE HAS TAKEN A HEALTH PLUS POLICY FOR 5 LACS. THUS THE MAXIMUM HEALTH INSURANCE THAT CAN BE ALLOWED ON ONE LIFE EITHER AS PRINCIPAL INSURED OR AS BENEFICIARY WILL BE RS. 5 LACS UNDER PLAN 901 AND RS 5 LACS UNDER PLAN 902 (TOTAL RS. 10 LACS). (RULES APPLY TO EACH LIFE INDEPENDENTLY)

LIC’s HEALTH PROTECTION PLUS(PLAN NO 902)

THANK YOU

Lic health protection plus 902

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