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‘Arogya Rakshak’ Health Insurance Plan -- LIC

Published on July 21, 2021
Current Context: The Life Insurance Corporation of India (LIC) launched a health insurance plan called ‘Arogya Rakshak’.
‘Arogya Rakshak’ Health Insurance Plan -- LIC
  • It is a non-linked, non-participating, regular premium based, individual health insurance policy.
  • It offers a fixed benefit cover of health insurance against specified health hazards.
  • It was launched by M Jagannath, Zonal Manager of South Central Zone of LIC.
  • The plan offers timely finance support for medical emergencies to the individual and family insured under it.
  • The individual can insure spouse, children and parents under one plan.
  • It has a different mode of payment i.e., unlike regular health insurance policies. The ‘Arogya Rakshak’ plan pays the total benefit amount which is insured irrespective of the actual cost of medical expenses.
  • The age limit for the plan is: The insured person/spouse/parents must be between 18-65 years and children must be between 91 days to 20 years.
  • The cover period for the insured person/spouse/parents is 80 years and the cover period for children is 25 years.
  • It offers flexible premium payment options.
  • Also, the New Term Insurance Rider and Accident Benefit Rider are the optional riders included in the policy plan.
  • After 3 years, the health cover can be raised through Auto Step Up benefit and No Claim benefit option.
  • Static Part: 
    • HQ of LIC: Mumbai
    • Chairperson of LIC: M R Kumar

Question: 

Q.1 Which insurance provider launched a health insurance plan called ‘Arogya Rakshak’?
a. ICICI Prudential Life Insurance
b. Life Insurance Corporation of India
c. United India Insurance Company Limited
d. General Insurance Corporation of India

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