Thiruvananthapuram, Feb 4 (UNI) The Life Insurance Corporation (LIC) of India has ventured into health insurance business in the state with the launch of 'Health Plus', a long-term unit-linked health insurance plan, today.
Addressing a press conference here, Senior Divisional Manager Swamithan said the 'Health Plus' policy was unique as it provided health benefits to the entire family (husband, wife and children) in one policy and also provided daily Hospital Cash Benefit (HCB), ICU expenses, Major Surgical Benefits (MSB) and Domiciliary Treatment Benefits (DTB).
Under the HCB, the daily benefits would be ranging from Rs 250 to 2,500 per day according to the choice of the customer, while in MSB a lump sum benefit payable in the case of surgery and the sum assured would be 200 times of the HCB a day, he said.
Mr Swaminathan claimed that since it was a unit-linked product, it allowed investment of surplus funds in capital market, giving health benefits and capital market gains. During the term of policy, this benefit would be available for one year to each member.
He said a person paying Rs 15,000 yearly premium for his family could claim tax benefits under Section 80d of the IT Act and could avail MSB of Rs five lakh per member along with the HCB of Rs 2,500 per day.
If a policy lapsed after a minimum of three years premium were paid within two years of the last unpaid premium. The customer could avail Premium Holiday by paying only the latest premium instalment, he added.
UNI CGV SJ 1625