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BEST HEALTH INSURANCE
Term is 65 years – Age at Entry. The premium amount is arrived based on the Hospitalization Cash Benefit (HCB) required by the policy holder, the premium for the policy is 6 times the HCB
Primary holder - HCB minimum is Rs.250 maximum is Rs.2500 per day Minimum Premium amount payable is 6 times the HCB of primary holder or Rs.5000, 3 times the HCB of second and other holders(kids), please note that other than own or adopted kids, no one else can be covered (like parent or sisters or brothers) Maximum premium limit is not there, however assuming that if a person with one wife and 2 kids, wants to take a maximum coverage under healthplus policy he can pay any amount as premium but only
6*2500+3*1500+3*1500+3*1500 = 28,500 as yearly premium, suppose if he wants Rs.500 as daily HCB then the premium would be The premium amount paid is exempted from Income tax under Section 80D (upto Rs.15000 per year as on this date). HCB is paid only for days beyond 48hrs in hospital. For the days in ICU(intensive care unit) the HCB will be twice the normal amount. Major surgical benefits under lic healthplus policy is 200 times the HCB of the person. In total 49 types of diseases are covered under Major Surgical benefits. Maximum MSB amount is Rs. 5 lakhs. If premiums are paid for 3 years the policy will still have the HCB and MSB benefits for another 2 years, the necessary charges will be deducted from the fund value. Premiums for the lic health plus are payable in YLY or HLY or ECS mode. Surrender can be done after 3 years ( NAV x No. of units is the surrender value ) HCB and MSB start from the end of 6 months of the policy, From 6 to 12 months the HCB is limited to 18days in total. However for accidental injury, there is no 6 months waiting period, the policy starts immediately. From second year to subsequent years HCB can be availed for 60 days per year. So the policy holder will get Rs.30000 if he has opted for Rs.500 per day HCB (i.e., Rs.500x60days). Kids are not provided MSB but only HCB. Anytime after 3 years Domiciliary Treatment Benefit (DTB) is also provided where it is given without hospital admission by partial withdrawal from the fund. The fund should have Rs.2500 as minimum balance at any point of time. This ULIP is very good as very nominal amount is deducted for HCB and MSB and the rest is used for allotting the funds, so at the end of the term it will be as if the health insurance is almost free and the investor will get some what closer to bank interest on the amount invested which will vary as per the stock market conditions. So one may assume that atleast 10 to 12% growth on the amount paid may be expected. You may refer licindia website for complete information regarding lic healthplus ULIP, this information is provided to help you to understand that there are good health linked ULIPs are available which one can definitely go for it to provide financial assistance in case of any medical emergency as well as to give growth for the fund saved by the investor in the ULIP. Popular searche words about LIC HEALTH PLUS
Best Insurance policy
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