LIC

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  This is India's First Money Back Health Insurance Plan, it is comprehensive unit-linked health insurance plan. It covers self, spouse, children as well as parents and has a unque combinationof a health insurance plan along with benefits of a unit-linked plan. Its basic health insurance policy features like hospitalization benefits, day care procedure coverage, doctor fees, medicines, tests etc are paid along with option to choose from 6 investment funds available and tax benefits as well.

  It's Advantage : - It is a unique combination of health insurance plan and unit-linked insurance plan (Ulip). Its provide opportunity to people who want to have a health cover along with investment opportunities. thus with all ULIP flexibilities like switch, partial, withdrawl etc, this plan provides health coverage as well. It is a complete Health + Wealth plan.

• Key Features of Money Back Health Insurance Plan.

  1) This is as unit-linked health insurance policy for self, spouse, children and parents. It provides valuable financial protection in case of hospitalization, surgery and many more.

  2) It increases health cover every year as a NO CLAIM BENEFIT.

  3) Extension of cover to new members of  family in case of marriage, re/marriage, child birth, legal adoption.

  4) Protection of investments from market fluctuations is allowed in the last 3 years of the policy term by transferring money to a "Liquid1" fund.

  Benefits Of LIC Money Back Health Insurance Plan

  Death Benefit: In case of death of the primary life Insured, the fund value is paid to the nominee and policy is terminated for everyone. But if other memeber die then only that member is removed from coverage & plan continues.

  Maturity Benefit : The fund value is paid to the primary life insured at end of Plan Term.

  Income Tax Benefit - The premiums paid is tax free under section 80D for health care charge and under 80C for premium paid towards market linked fund. Maturity value is also tax free under section 10(10)D provided the premium in any year during the plan term does not exceed 20% of the sum assured.

  What is covered in LIC Money Back Health Insurance Plan1) Hospital room accommodation- Hospital & Nursing Home room rent is provided by this policy but only upto 1% of sum assured but a maximum of Rs 5000 per day.
  2) There is limit on ICU room rent reimburement of only 2% of sum insured, upto a maximum of Rs 10,000 per day.
  3) Fees of doctor, surgeon, anesthetist, medical practitioner, consultant and specialist.
  4) Nuring expenses.
  5) Cost of medicines and drugs, OT charges, blood, oxygen, pathology, radiology and any other diagnostic tests etc are paid.
  6) 195 listed Day care procedures are also covered.
  7) Cancer treatment including Chemotherapy and Radiotherapy are covered.
  8) Pre and Post Hospitalisation of 30 days and 60 days are covered.
  
  

  Eligibility Conditions Of LIC Money Back Health Insurance Plan

  
  

  	Minimum	Maximum
  Sum Assured for Individual (in Rs.)	1,50,000	5,00,000
  Sum Assured for Floater (in Rs.)	1,50,000	10,00,000
  Premium Paying Term (in years)	Single	Equal to PT
  Policy Term	5 years for Single Pay Only	10 years for Regular Pay
  Entry Age of Primary Life Insured	18 years	60 years
  Entry Age of Children	90 days	24 years
  Entry Age of Spouse and Parents	18 years	65 years
  Age at Maturity for Self/Spouse/Parents	-	75 years
  Age at Maturity for Children	-	25 years
  Payment modes	Single and Yearly

   

  Additional features & Benefits Of LIC Money Back Health Insurance Plan

  Riders - There are no riders available in this plan.

  There are 6 Investment Funds options to choose from :

  1. Equity 1 Fund

  2. Balanced 1 Fund

  3. Debt 1 Fund

  4. Index Tracker Fund

  5. Value Fund

  6. Liquid 1 Fund.

   

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