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Health Insurance – LIC Health Plus

Published On 10 Apr 2010 By . Under: Health Insurance, Policy Reviews. Tags: , , , ,   

While a ULIP provides you with an insurance cover along with market related returns, as well as tax benefits under Sec 80 C, a Unit Linked Health Plan provides cover for medical expenses (e.g. hospitalization, etc) along with market related returns, as well as tax benefits under Sec 80 D (If u are not clear on difference b/w Sec 80 C and Sec 80 D let me know, will cover that as well).


This is a unique health plan, and as far as i know, LIC is the only company which has come up with such an innovative health insurance product.

Some of the key features of this LIC Health Plus policy are:

1) The sum assured for major surgical benefits will be 200 times the Hospital Cash Benefit.
2) The insurer can avail this cover for a maximum of 65 years of age.
3) Existing family members cannot be added at a later stage, however new members (in case of marriage or child birth) can be added at a later stage.
4) Increase or decrease of premiums is also allowed during the term of the policy.
5) Hospital Cash Benefit amount varies from Rs 250 to Rs 2500, depending upon the level of cover.
6) The insured is also eligible for Major Surgical Benefit, and Domiciliary Treatment Benefit.The benefits should be more clear from the illustration below:
LIC Health Plus - Save tax under Sec 80 D
LIC Health Plus - Health Insurance by LIC

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  • Mohanaiah_pipuru

    what is the difference between U/S 80C & U/S 80D IN RESPECT OF INCOME TAX

    • pushking

      Hello Reader,
      As per IT Act, your Life insurance premiums, PPF investments, NSC savings etc are eligible for deduction under Section 80 C, while your medical insurance premiums are eligible for tax saving under Section 80 D. This is the basic difference between Section 80 C and Section 80 D of IT Act.
      Read more on this here:
      http://indianblogger.com/incom…/

  • Anonymous

    Hello Mr Joshi,

    We would like to inform you that the premium can be paid until the insured reaches age of 65. After that the health cover ceases to exist. The returns you get upon maturity are market linked just like in the case of ULIPs.

  • Anonymous

    Dear Reader,
    You can find the list of surgical procedures included under LIC Health Plus here: http://www.licindia.in/images/health_plus_brochure.pdf

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