Lic Unveils Jeevan Asha Health Plan

Life Insurance Corporation (LIC) has introduced a scheme to enable policyholders to go in for periodic health check-up and get relief in case of expensive health emergencies. The scheme, named Jeevan Asha, will, however, be a close-ended one whose sale will open from October 9 and close on January 15, 1998.

The subscribers to the scheme will have the age limit between 18 years and 50 years at the point of entry. Maximum age at maturity will be 65 years.

According to LIC sources, Jeevan Asha will provide for periodic payment of two per cent of the sum assured (survival benefit) at the end of every second year to help policyholders go in for health check-ups.

 

In the alternative, policyholders can avail of enhanced lumpsum towards any health emergencies. Survival benefit becomes due after the policy has completed three years.

In case of surgical treatment, Jeevan Asha makes available a fixed benefit of 20 per cent or 50 per cent of the sum assured to the policyholders.

The benefit is available only once during the term of the policy and is payable irrespective of the actual expenses incurred.

The premium payment will continue even after availing of this benefit.

The policyholder in that case will continue to enjoy the survival benefit even after receiving the fixed benefit.

One of the important features of the scheme is that there are guaranteed addition of Rs 70 per thousand for the sum assured for each completed policy year payable on maturity or on death, which is earlier.

There are ten surgical procedures which are covered under Jeevan Asha scheme: nervous system, respiratory system, cardiovascular systems, haemic and lymphatic system (two types), digestive system, endocrine system, eye, oro-maxillafacial surgery, musculoskeletal system.

These apart, accident benefit is also covered under the plan with some restriction. Accident benefit will also continue even after availing of surgical procedure benefits.