The state-run Life Insurance Corporation of India (LIC) has sold a total of 2.64 crore policies across the nation so far. The life insurer has launched its first long-term unit linked health insurance scheme, ?Health Plus? for the first time in the country.
The product provides insurance cover for the entire family (husband, wife and children) besides hospital cash and major surgical benefits.
RR Dash, regional manager, eastern zone, Kolkata said the premium would remain constant throughout the entire term and would not increase with the yearly renewal.
One of the unique features of the LIC health product is that the principal insured can withdraw an amount equivalent to the actual expenses he has incurred in respect of any domiciliary treatment for himself or for the others insured under the policy subject to the fund value in his account. The premium can be paid either on yearly or half-yearly basis. “The minimum amount of premium for a single person is Rs 5,000. The amount to be paid for both husband and wife is Rs 7,500 and it goes up to Rs 10,000 when two children come under coverage,” said regional manager B Das. The maximum cover ceasing age for the plan is 65 years, Das said.