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

(Last Updated On: July 18, 2021)

LIC Jeevan Arogya (T 904) is a family floater 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 hospitalization and almost all types of surgical procedures.

Benefits provided in this policy are irrespective of the actual expenses incurred and are in addition to any other health insurance cover that the 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.

Read more: LIC’s New and updated health insurance plan – Arogya Rakshak – Plan 906 – everything you need to know

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 policyholder.

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 on a separate page.

Eligibility Conditions of Jeevan Arogya (T 904)

Member DetailsMinimumMaximum
Age at
Entry
1.Principle insured
2.Insured Spouse
18 years65 years
1.Parents
2.Parents in law
18 years75 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 RebateYearly Mode – 2%Half Yearly Mode – 1%
Hospital Cash Benefit (HCB) Rebate
HCB (Rs.)Rebate for
Principle Insured
Rebate for
Other Members
2000500250
30001000500
40001500750

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 members get 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 policyholder 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 hospitalization. But, on the other hand, if the hospitalization period extends for a period of 7 days or more, HCB shall be paid for the 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. The 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 policyholder 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 policyholder. Complete list of the Daycare procedure allowed under the scheme can be downloaded from here.

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

If the policyholder undergoes a surgical procedure which is not mentioned as a Major surgery or as a daycare 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)
FeaturePrinciple Insured
[PI]
Spouse, Parents and
Parents In Laws
Dependant Children
Minimum Initial
Daily Hospital
Cash Benefit
100010001000
Maximum Initial
Daily Hospital
Cash Benefit
4000Spouse: 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
FeaturePrinciple 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 InsuredMember 1Member 2
NameArunShilpaAadhi
RelationshipSelfSpouseSon
Age35324
Initial Daily
HCB Considered
200020001000

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 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. The 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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