1. LIC’S HEALTH PROTECTION PLUS
PLAN 902 –
A LONG TERM UNIT LINKED PLAN WITH ALL TYPES OF HEALTH RISK COVER

2. USP Long term unit linked Health Insurance policy
Single Policy for all family members
No restriction on number of members
Addition of newly eligible members during the currency of the policy.
3 types of benefits viz., Hospital Cash Benefit, Major Surgical Benefit and Domiciliary Treatment benefit.
Fixed Benefit schemes: irrespective of expenses for hospitalization and Surgeries
Escalation in Hospital Cash benefits with no increase in premium.

3. USP: ( Continued…..)
Extended Hospitalization and major surgical risk coverage after premium paying term
Health Risk cover for hospitalization and Major Surgeries up to 75 years for Adults and 25 years for minor lives
No age limit for Domiciliary Treatment Expenses claim
Automatic recovery of risk charges from fund, in case of non payment of premiums
No lapse – no foreclosure – Policy will continue as long as fund is available.

4. USP: ( Continued…..) Fund grows with the market
Scheme continues for the family members on the death of the Premium Paying Person long as the fund is available.
Compulsory savings for age related ailments .
Income Tax Rebate under Section 80(D)of the Income Tax Act for full premium paid up to Rs.15000/=
Any time, Any where premium payment facility
Service through Fully Automated Systems.

5. The benefits offered:
Hospital Cash Benefit: (Double for ICU admissions)
Minimum Rs. 250/-
Maximum Rs.2500/- for Principal Insured
Rs.1500/- for other Insured.
HCB of all Insured children are equal. In multiples of Rs.50/-
HCB escalates at the rate of 5% per annum subject to a maximum of 1.5 times.
2. Major Surgical Benefit:
200 times the Hospital Cash Benefit.
3. Domiciliary Treatment Benefit:
Reimbursement of the Domiciliary Treatment Expenses applicable from the fund value.

6. Benefit structure and the limits
Annual Limit
Maximum limit for the entire term
HOSPITAL CASH BENEFIT
(excluding first 48 hours and in excess of subsequent 4 hours)
18 days in first year including 9 days of ICU
60 days in subsequent years including 30 days of ICU
365 days
For minor child up to age 5: 90 days
MAJOR SURGICAL
BENEFIT
200 times Hospital
Cash Benefit
600 times Hospital Cash Benefit
DOMICILIARY BENEFIT
(REIMBURSEMENT)
2 times per year after payment of at least 3 full years’ premiums. Benefit starts from 3rd policy anniversary if the mode is Yearly.
No Limit. During HCB and MSB coverage period. Up to the balance of 50% of the policy fund and one annualised premium

7. Who can be covered? Proposer
From Age : 18 years last Birthday to 55 years Nearest Birthday. He/She pays the premium and is Principal Insured
Spouse
From Age: 18 years last Birthday to 55 years Nearest Birthday
Children
Children including adopted children from 3 months to 17 nearest birthday years are admitted. Risk cover for MSB starts at 18. No restriction in the number of children to be covered.
Spouse after marriage/remarriage, new born children/ newly adopted children can also be included after the commencement of the policy. Cover commences from next policy anniversary after intimation.

8. Risk cover up to…… Principal Insured
Up to the age of 75 years nearer birthday.
Insured spouse
Up to the age of 75 years age nearer birthday of self or the Principal Insured whichever is earlier.
Insured Children
Up to the age of 25 years nearer birthday and 75 years age nearer birthday of Principal Insured whichever is earlier

9. Risk cover ceases, when?….
On attaining the maximum age and at the end of the term of the policy
On death of the any of the insured other than Principal Insured (for that insured only)
On non payment of premiums and fund is in-sufficient to cover the risk.
On exhaustion of maximum limits for each of the benefits for each of the insured.
Insured spouse’s cover terminates on the date of divorce/ legal separation
“Benefits are independent for their cessation”.

10. If premium paying person (Principal Insured) dies…..
No death benefit is payable. However if the Principal Insured alone is insured then unit fund value is payable to the nominees.
In other cases, On death of the Principal Insured, the policy continues on other lives till their maximum age or the fund value is available to cover the risk or the limit on the risk cover is exhausted whichever is earlier.

11. The waiting Period for availing the benefits……………….
0 days for accident claims
180 days for Hospital Cash Benefit and Major Surgical Benefit from the Date of Commencement
90 days for Hospital Cash Benefit and Major Surgical Benefit after revival of the policy
Payment of 3 full years premium for reimbursement of Domiciliary Treatment Benefit.

12. The premium Principal Insured alone to be covered
Rs.5000/= per annum and six times the Hospital Cash Benefit whichever is higher.
Principal Insured and Insured Spouse are to be covered
Rs.7500/= per annum and Six times the Hospital cash benefit of Principal Insured plus three times the Hospital cash benefit of the spouse whichever is higher.
Principal Insured, spouse and Children are to be covered
Rs.10000/= per annum and Six times the Hospital cash benefit of Principal Insured plus three times the Hospital cash benefit of the spouse plus three times the hospital cash benefit of all the insured children whichever is higher.
Mode allowed : Yearly, Half Yearly and ECS

13. The premium for Sub-standard lives
Principal Insured alone to be covered
Rs.5000/= per annum and nine times the Hospital Cash Benefit whichever is higher.
Principal Insured and Insured Spouse are to be covered
Rs.7500/= per annum and nine times the Hospital cash benefit of Principal Insured if the Principal Insured is sub-standard plus five times the Hospital cash benefit of the spouse if the spouse is sub-standard , whichever is higher.
Principal Insured, spouse and Children are to be covered
Rs.10000/= per annum and nine times the Hospital cash benefit of Principal Insured plus three times the Hospital cash benefit of the spouse plus five times the hospital cash benefit of all the insured spouse/children if the insured spouse/children is Substandard, whichever is higher.

14. The charges from Premium
Allocation charges
30% in the first year
6% from second year onwards
Policy Administration Charges
Rs.75/= per month during first year
Rs.25/= per month on subsequent years
Fund Management charges
1.25% of NAV. (NAV declared is net of these charges)
Health Insurance Charges
Separate charges for each insured for each of the benefits viz., HCB and MSB. Depends on the age nearer birthday on each policy anniversary. Recovered on monthly basis
Service Charges
10.3% Charges on Allocation charges, HCB and MSB Charges, Policy Administration charges and Fund Management Charges

15. The policy lapses…
If during the first three years if the premium is not paid within days of grace, the policy lapses. It can be revived within two years from the date of first unpaid premium on payment of premiums in full or on availing premium holidays.
Deduction of charges will be made as long as the fund is available.
If lapsation continues after two years and fund is insufficient, policy is foreclosed with a simple Notice to the Principal Insured!
After three years, Principal Insured can pay all the premium or avail premium holidays subject to a balance of one annualised premium in the fund.

16. Addition of members Situation When to include The cover starts from
Marriage/remarriage of the Principal insured after taking the policy
Within one year from the date of marriage
The following policy anniversary
A Child born or Legally adopted child less than 3 months after taking the policy
Health Cover starts from the policy anniversary falling immediately after the child completes 3 months
Legally adopted child is more than 3 months old
From the policy anniversary falling after date of adoption
The new members will be eligible for the cover only if they satisfy the conditions of minimum premium and benefits.
New members must be included by the Principal Insured only. No new members will be allowed after the death of the principal insured.

17. The policy does not have…..
Surrender value
Policy loan
Assignment
Maturity Value…
End for the Term as long as fund is available
Death Benefit
Addition of new member after the death of PI.
Extension of cover to already existing members after commencement

18. The attractive features of this policy……
Extended risk cover after cessation of premiums at the age of 65 of PI.
Once HCB and MSB benefits are exhausted, there is no restriction on the Min. balance for DTB. DTB can be availed on one lumpsum at any interval. One can bring an end to their policy….
Contrarily if one wants to continue their policy endless……..will continue for DTB alone….
Benefits are independent of their cessation
Premium can be increased/decreased depending on the financial circumstances subject to the conditions of no alternations in minimum premium requirements and benefits opted .

19. Policy servicing
Premium payment facility through any mode : ECS, Networked Branches .
All services viz., Change of address, Inclusion of member, Change of bank account, Deletion of member, Revivals etc, through automated systems. Request Process is initiated at Branch level.
Issuance of Health ID cards by Third Party Administrators
Hospital Cash Benefits and Major Surgical Benefits Claims services through Third Party Administrators
All payments including Claims through LIC’s Centralized Systems.
Simplest procedure for domiciliary treatment benefits through your nearest offices…….

20. A comparison with Medi-claim
Charges for a Male Aged 42 years for SA under a Medi-claim scheme Rs.4373/= per annum
Charges for a Male Aged 42 years under LIC’s Health Plus I: HCB amount of 1500 X 365 = upto the end of the term for MSB of Rs /= is Rs .

21. Additional features…
Proposer can take this policy for additional 5 lakhs SA if already Plan 901 is taken for 5 lakhs.
Major students can be covered based on their parents income for a max of 5 lakh SA.
Female lives falling under all three catergories can be covered under this plan.
This plan is allowed for Non Resident Indians also subject to certain conditions.