Have you heard about LIC’s Health Plus Plan 901? It’s a special long-term health insurance plan that gives complete health coverage for your whole family. It also lets you invest money. The plan provides Hospital Cash Benefit (HCB) and Major Surgical Benefit (MSB) for you, your spouse, and your children. Plus, it has a Unit-Linked Insurance Plan (ULIP) that can help pay for treatment expenses at home. With LIC Health Plus, you can feel confident knowing your family’s health is protected.
What is Health Plus?
LIC’s Health Plus Plan 901 gives you complete health insurance by providing Hospital Cash Benefit (HCB) and Major Surgical Benefit (MSB) for you, your spouse, and your children. This plan makes sure your whole family is protected from unexpected medical bills.
Along with the health covers, Health Plus Plan 901 also has a Unit-Linked Insurance Plan (ULIP) part. This lets you invest in units, which can be used to pay for treatment at home. It gives you more financial flexibility.
Key Advantages
- Complete coverage: Health Plus Plan 901 offers an all-in-one solution. It covers hospital bills, major surgeries, and home treatment for your entire family under one policy. You don’t need multiple health insurance plans.
- Double benefits: With Health Plus Plan 901, you get health insurance and also the chance to invest and grow your money through the ULIP part. This unique combination helps you prepare for medical emergencies and future financial goals.
- Flexibility: LIC knows that your health insurance needs may change over time. That’s why Health Plus Plan 901 lets you increase or decrease your premium and health covers based on your changing needs. This ensures you always have the right amount of protection.
- Tax benefits: Investing in your family’s health also gives you tax savings. The premiums you pay for Health Plus Plan 901 can be deducted under Section 80D of the Income Tax Act. This helps lower your taxable income and save more money.
Eligibility Criteria
To make sure your loved ones are covered at the right age, Health Plus Plan 901 has specific entry age limits for you, your spouse, and your children. The table below shows an overview of the eligibility criteria:
| Criteria | Limit |
|---|---|
| Minimum Entry Age | Principal Insured & Spouse: 18 years, Children: 3 months |
| Maximum Entry Age | Principal Insured & Spouse: 65 years, Children: 25 years |
| Policy Term | Up to age 65 years of Principal Insured |
| Premium Payment Mode | Yearly, Half-yearly, Monthly (ECS only) |
| Sum Assured (MSB) | Based on Hospital Cash Benefit amount chosen, MSB = HCB x 200 |
Additional Features
With Health Plus Plan 901, you can enjoy longer benefit period limits for Hospital Cash Benefit. The plan gives you a maximum of 60 days per year, including 30 days for ICU, and a lifetime limit of 365 days. This ensures you and your family have long-term coverage.
The Major Surgical Benefit (MSB) in this plan gives complete coverage for each insured member. You can claim up to 100% of the MSB sum assured per year, with a lifetime limit of 3 times the sum assured. This offers peace of mind during important surgeries.
From the third policy year onwards, you can use the Domiciliary Treatment Benefit to cover medical expenses at home. This benefit lets you claim up to 50% of the policy fund, with a minimum claimable amount of Rs. 2,500, as long as you have paid premiums for at least 3 years.
If you stop paying premiums, Health Plus Plan 901 offers a revival period of 2 years from the date of the first missed premium. During this time, you can restore your policy by paying the outstanding premiums. This ensures your family’s health coverage continues without any breaks.
Optional Benefits
LIC’s Health Plus Plan 901 lets you adjust your premiums based on your changing financial situation. As the Principal Insured, you can increase or decrease your premiums while the policy is active. This allows you to keep a balance between your health coverage and budget.
If your policy lapses after 3 years because you didn’t pay premiums, Health Plus Plan 901 provides premium holidays. By paying a single premium, you can revive and continue your policy. This ensures your family stays protected without any interruptions.
Exclusions
- Health Plus Plan 901 does not cover pre-existing conditions and diseases. This ensures the plan remains affordable for all policyholders.
- To keep the plan viable, there is a waiting period of 180 days for health-related claims. This allows time for you to show your commitment to the plan.
- Non-allopathic treatments are not covered to ensure the plan focuses on widely accepted medical practices.
- The plan does not cover self-inflicted injuries, sexually transmitted diseases (STDs), AIDS, war-related injuries, or travel abroad for treatment. These fall outside the scope of standard health insurance.
- Congenital diseases, mental disorders, insanity, and cosmetic surgery are also not covered. They often need specialized care and may not be directly related to acute medical conditions.
- Pregnancy, miscarriage, abortion, and related complications are not covered under this plan. They are usually addressed through separate maternity insurance policies.
Frequently Asked Questions
Can new members be added to the policy later?
Yes, Health Plus Plan 901 lets you include new family members after the policy starts. If you get married after buying the policy, you can add your spouse within one year of your marriage. Similarly, if you have a newborn child or legally adopt a child, they can be included in the policy as per the terms and conditions mentioned on https://licindia.in.
Will health covers reduce if I decrease the premium?
If you choose to lower your premium amount in LIC’s Health Plus Plan 901, the health covers will also decrease proportionately. It’s important to carefully consider your family’s healthcare needs and financial situation before making any changes to your premium. You can find more details about adjusting your premium and its impact on health covers on the official lic
Will health covers reduce if I decrease the premium?
If you choose to lower your premium amount in LIC’s Health Plus Plan 901, the health covers will also decrease proportionately. It’s important to carefully consider your family’s healthcare needs and financial situation before making any changes to your premium. You can find more details about adjusting your premium and its impact on health covers on the official website
Will health covers reduce if I decrease the premium?
If you choose to lower your premium amount in LIC’s Health Plus Plan 901, the health covers will also decrease proportionately. It’s important to carefully consider your family’s healthcare needs and financial situation before making any changes to your premium. You can find more details about adjusting your premium and its impact on health covers on the official website LIC offers several convenient premium payment options for Health Plus Plan 901. You can pay your premiums yearly, half-yearly, or monthly through Electronic Clearing Service (ECS). This flexibility allows you to choose a payment schedule that suits your financial planning. To learn more about the premium payment process and to set up your preferred payment method, visit the LIC India website.
Is there a grace period for premium payments?
Yes, LIC’s Health Plus Plan 901 provides a grace period for premium payments. If you miss a premium due date, you have an additional 30 days to make the payment and keep your policy active. It’s crucial to pay your premiums within the grace period to ensure that your family’s health coverage continues without interruption. You can find more information about the grace period and its terms on licindia.in.