LIC Jeevan Arogya (UIN 512N266V03)

Life Insurance Corporation of India (LIC) introduced the Jeevan Arogya plan to provide a simple, affordable health cover for policyholders under the umbrella of a life insurance policy. The plan is particularly appealing to those who want both life protection and medical expense coverage in a single, convenient plan.

Key Highlights

• UIN: 512N266V03
• Policy term: 10, 15, 20, or 25 years (choose as per need)
• Sum Assured on Death: Varies with premium; typically 1020 times the annual premium
• Medical coverage: Up to Rs. 5Lakhs per annum (subject to policy options)
• Tax benefits under Section80C (life cover) and Section80D (medical cover)
• Simple, nonlinked plan no investment component
• No medical test required for ages 2545 (up to a certain sum assured)

Who Should Consider Jeevan Arogya?

The plan is ideal for:

1. Young families seeking a basic health cover combined with life protection.
2. Individuals who prefer a lowcost plan without marketlinked returns.
3. Policyholders who want a taxefficient way to fund both life and medical expenses.
4. People looking for a policy that can be extended or converted into a more comprehensive health plan later on.

Features & Benefits

Feature	Benefit to the Policyholder
Life Cover	Provides a lumpsum payout to nominees on the death of the insured during the policy term.
Health Cover	Reimbursement of hospitalisation expenses up to the selected sum insured per year.
Illness Benefit	Fixed amount paid on diagnosis of specified critical illnesses (if chosen as an option).
Tax Deductions	Premiums qualify for deduction under Section80C; medical cover qualifies under Section80D.
No Medical Examination	For eligible age groups and sum assured, simplifies the application process.
Flexible Policy Term	Choose from multiple term lengths to match financial planning horizon.
Premium Waiver on Total & Permanent Disability (TPD)	Future premiums are waived if the insured becomes totally and permanently disabled.

Eligibility & Application Process

Age: 2555 years at the time of purchase (subject to policy term).

How to Apply:

1. Visit any LIC branch or the official LIC website.
2. Fill the Jeevan Arogya application form (Form15). Provide personal details, chosen sum assured, term, and nominee information.
3. Submit required documents identity proof, address proof, and recent passportsize photograph.
4. Pay the initial premium (cash, cheque, demand draft or online).
5. Receive the policy booklet and JumlaSaala (policy certificate) within 710 business days.

Premium Calculation

The premium is determined by:

• Age of the insured at entry.
• Policy term selected.
• Sum assured for life cover.
• Chosen medical coverage limit (Rs. 2Lakhs, Rs. 3Lakhs, Rs. 5Lakhs).
• Payment mode yearly, halfyearly, quarterly, or monthly.

As an illustration, a 30yearold male opting for a 20year term with a life sum assured of Rs.5Lakhs and medical cover of Rs.3Lakhs may pay approximately Rs.12,500 per annum (exact rates vary; use LICs online premium calculator for precision).

Claim Process

When a claim arises, follow these steps:

1. Notify LIC within 48hours of hospitalization or death.
2. Collect required documents:
   • Original hospital discharge summary and bills.
   • Doctors certificate stating diagnosis and treatment.
   • Police FIR and death certificate (for death claim).
   • Claim form (Form280) duly filled.
3. Submit the claim package to the nearest LIC branch or upload digitally via the LIC portal.
4. LIC processes the claim within 30days (subject to document verification).

For critical illness benefits, the claim can be filed at diagnosis rather than waiting for hospitalization.

Riders & Additional Options

Policyholders can enhance coverage by adding the following riders:

• Accidental Death Benefit (ADB) Rider additional payout if death occurs due to accident.
• Critical Illness Rider lumpsum on diagnosis of specified critical diseases.
• Hospital Cash Rider daily cash allowance during hospitalization.

Policy Lapse and Revival

If premiums are missed, the policy lapses after the grace period (usually 30 days). LIC allows revival within 2 years of lapse, provided the outstanding premiums (with interest) are cleared and the insureds age does not exceed the upper limit for the original term.

Renewal

Jeevan Arogya is a term policy; it does not automatically renew after the chosen term expires. At maturity, no survival benefit is payable, but the life cover ceases. Policyholders may choose to transition to a new term plan or a endowment plan for continued protection.

Comparison with Other LIC HealthRelated Plans

Plan	Primary Focus	Sum Assured (Life)	Medical Cover	Investment Component	Typical Premium (30yrmale)
Jeevan Arogya	Life + Basic Health	1020annual premium	Up to Rs.5Lakhs	No	Rs.12,500/yr
Jeevan Arogya Health Secure	Enhanced health cover	Same as Jeevan Arogya	Up to Rs.10Lakhs	No	Rs.18,000/yr
Jeevan Labh	Life + Endowment with health addon	Fixed (e.g., Rs.10Lakhs)	Optional health rider	Yes (savings)	Rs.22,000/yr

Tax Implications

Under the Income Tax Act:

• Premium paid (excluding the medical portion) is deductible under Section80C, subject to the overall limit of Rs.1.5Lakhs.
• Medical premium component qualifies for deduction under Section80D, up to Rs.25,000 (Rs.50,000 for senior citizens).
• Death benefit received by nominee is taxfree under Section10(10D).

Strengths and Limitations

Strengths

• Combined life and health protection in a single policy.
• Affordable premiums compared with separate life and health plans.
• Tax savings on both life and medical premiums.
• Simple claim process with clear documentation requirements.

Limitations

• Medical cover limits (max Rs.5Lakhs) may be insufficient for major surgeries.
• No maturity benefit; policy ends at term expiry.
• Limited rider options compared to dedicated health policies.
• Age ceiling (55) restricts older entrants.

How to Purchase Online

1. Visit licindia.in and navigate to Insurance Products Jeevan Arogya.
2. Enter your age, desired term, and coverage amounts in the premium calculator.
3. Click Buy Online, fill the digital application, and upload scanned copies of KYC documents.
4. Make the first premium payment via net banking, UPI, or credit/debit card.
5. Receive a digital policy document (epolicy) and physical copy by post.

Conclusion

LIC Jeevan Arogya (UIN512N266V03) offers a pragmatic blend of life protection and basic health coverage, suited for individuals and families seeking costeffective security. While the medical sum insured is modest compared with dedicated health insurers, the simplicity, tax advantages, and the trusted brand of LIC make it a worthy option for many Indian households. Prospective buyers should evaluate their longterm financial goals, existing health cover, and potential future needs before finalising the policy.