Introduction to LIC Jeevan Arogya Plan 904
LIC Jeevan Arogya Plan 904 was a non-linked and non-participating health insurance policy introduced by the Life Insurance Corporation of India (LIC). The plan was specially designed to provide financial support against hospitalization expenses, surgeries, and other specified medical treatments through fixed benefit payouts.
Unlike traditional mediclaim policies that reimburse actual medical bills, LIC Jeevan Arogya Plan 904 offered fixed lump-sum benefits regardless of the actual treatment cost. This made claim settlement simpler and provided immediate financial assistance during medical emergencies.
Launch and Withdrawal Details
- Launch Date: 1 October 2020
- Withdrawal Date: 12 July 2021
Although the plan is no longer available for new purchases, existing policyholders continue to receive benefits according to policy conditions.
Key Features of LIC Jeevan Arogya Plan 904
Fixed Benefit Health Insurance
The policy paid fixed cash benefits for hospitalization, surgeries, and daycare procedures without requiring reimbursement of actual medical expenses.
Family Floater Coverage
The plan allowed coverage for multiple family members under a single policy, including:
- Principal insured
- Spouse
- Children
- Parents
- Parents-in-law
Increasing Health Cover
The available health cover increased automatically by 5% every year for up to 10 years, helping policyholders manage rising healthcare costs over time.
Flexible Coverage Selection
Policyholders could choose:
- Daily hospital cash benefit amount
- Major surgical benefit sum assured
according to their financial and medical protection requirements.
Optional Riders
Additional protection could be added through optional riders such as:
- Term Assurance Rider
- Accident Benefit Rider
No Hospital Bill Requirement
Benefits were payable according to policy terms without linking payouts to actual medical bills, simplifying the claim process.
Flexible Premium Payment Modes
Premiums could be paid through:
- Yearly mode
- Half-yearly mode
Tax Benefits
Premiums paid under LIC Jeevan Arogya Plan 904 qualified for tax deductions under Section 80D of the Income Tax Act, subject to prevailing tax regulations.
Important Dates
| Event | Date |
|---|---|
| Plan Launch Date | 1 October 2020 |
| Plan Withdrawal Date | 12 July 2021 |
LIC officially discontinued this plan to introduce more advanced health insurance products, including LIC Arogya Rakshak Plan 906, which offers broader and more flexible coverage options.
Eligibility Criteria for LIC Jeevan Arogya Plan 904
| Insured Member | Minimum Entry Age | Maximum Entry Age | Cover Ceasing Age | Important Notes |
|---|---|---|---|---|
| Self / Principal Insured | 18 years | 65 years | 80 years | Principal insured is mandatory |
| Spouse | 18 years | 65 years | 80 years | Spouse can be covered under the same policy |
| Parents / Parents-in-law | 18 years | 75 years | 80 years | Coverage available under family floater option |
| Dependent Children | 91 days | 17 years | 25 years | Coverage continues up to age 25 |
Benefits Available Under LIC Jeevan Arogya Plan 904
Hospital Cash Benefit (HCB)
The policy provides a fixed daily hospitalization cash benefit for treatment due to illness or accidental injury.
Available daily benefit options:
- ₹1,000
- ₹2,000
- ₹3,000
- ₹4,000
The selected benefit amount increases automatically by 5% every year for up to 10 years, subject to a maximum limit of 1.5 times the original benefit amount.
Major Surgical Benefit (MSB)
This benefit offers a lump sum payout for specified major surgeries covered under the policy.
Available sum assured options include:
- ₹1 lakh
- ₹2 lakh
- ₹3 lakh
- ₹4 lakh
The benefit is payable once for each insured member during the policy term.
Day Care Procedure Benefit (DCPB)
The policy covers fixed payouts for certain daycare procedures that do not require 24-hour hospitalization, such as:
- Cataract surgery
- Dialysis
- Endoscopy
- Similar listed procedures
Other Surgical Benefit (OSB)
Fixed benefits are also available for several other surgeries specified under the policy conditions, regardless of the actual treatment cost.
Optional Rider Benefits
Term Assurance Rider
Provides additional life insurance protection with a separate risk cover amount payable on death during the policy period.
Accident Benefit Rider
Offers extra financial support in case of accidental death or permanent disability.
Coverage and Policy Details
| Particular | Details |
|---|---|
| Entry Age | 5 to 65 years |
| Policy Term | 10 years |
| Coverage Type | Individual or Family Floater |
| Maximum Insurable Amount | ₹10 lakhs (including related plans 901, 902, and 903) |
How to Use LIC Jeevan Arogya Plan 904 Calculator
The LIC Jeevan Arogya Plan 904 Calculator helps users estimate premium amounts and understand available benefits according to selected coverage options.
Steps to Use the Calculator
- Select the number of insured members to be covered.
- Choose the daily hospital cash benefit amount.
- Select the required major surgical benefit sum assured.
- Enter the ages of all insured individuals.
- Add optional riders if required.
- Click on calculate to view premium details and benefit estimates.
The calculator displays:
- Yearly or half-yearly premium payable
- Hospital cash benefits
- Surgical coverage amounts
- Rider benefits
- Overall policy coverage summary
Using the calculator helps policyholders compare benefit options and plan health insurance expenses more effectively.
Example of Premium Calculation
Suppose Mr. Arun (35 years), his wife Shilpa (32 years), and their son Aadhi (4 years) choose coverage under LIC Jeevan Arogya Plan 904. They select a daily hospital cash benefit of ₹2,000 for Mr. Arun and Shilpa, while ₹1,000 is selected for Aadhi.
Using the LIC Jeevan Arogya Calculator, the yearly premium is estimated based on:
- Age of each insured member
- Selected hospital cash benefit
- Surgical benefit options
- Family coverage structure
The final premium may vary depending on applicable rebates and LIC premium rates during the policy period.
Premium Rebates and Tax Benefits
Premium Rebates
LIC offered premium discounts for choosing higher hospital cash benefits. For example:
- Selecting a ₹2,000 daily hospital cash benefit provided a rebate of ₹500 on the principal insured’s premium.
CEIS Rebate
A rebate of 10% on the tabular premium was available for eligible direct proposals under the CEIS category.
Income Tax Benefits
Premiums paid under LIC Jeevan Arogya Plan 904 qualified for tax deductions under Section 80D of the Income Tax Act:
- Up to ₹25,000 for regular taxpayers
- Up to ₹30,000 for senior citizens
subject to prevailing tax rules.
Important Points to Remember
- The policy pays fixed benefits and does not reimburse actual medical bills.
- Benefits under this plan are payable in addition to other health insurance or mediclaim policies.
- The daily hospital cash benefit increases automatically by 5% every year for up to 10 years.
- The maximum health insurance coverage across LIC plans 901, 902, 903, and 904 on one life cannot exceed ₹10 lakhs.
Why Choose LIC Jeevan Arogya Plan 904?
Additional Financial Protection
The plan works as a supplementary cover alongside existing mediclaim or health insurance policies.
Support During Hospitalisation
Fixed cash payouts help manage financial pressure during surgeries and hospital stays.
Family Floater Convenience
Multiple family members can be insured under a single policy.
Easy Claim Process
Claims are processed based on policy benefits without requiring actual hospital expense proofs.
Increasing Coverage
Automatic yearly enhancement of benefits improves long-term protection against rising healthcare costs.
Frequently Asked Questions
What is LIC Jeevan Arogya Plan 904?
It was a fixed benefit health insurance plan by LIC that provided lump-sum payouts for hospitalization, surgeries, and daycare procedures irrespective of actual medical expenses.
Who could be covered under this plan?
Coverage was available for:
- Principal insured
- Spouse
- Dependent children
- Parents
- Parents-in-law
Can I claim benefits if I already have mediclaim insurance?
Yes, benefits under LIC Jeevan Arogya Plan 904 were payable in addition to mediclaim or other health insurance claims.
What benefits were available under the plan?
The plan included:
- Hospital Cash Benefit (HCB)
- Major Surgical Benefit (MSB)
- Day Care Procedure Benefit (DCPB)
- Other Surgical Benefit (OSB)
What is the Initial Daily Benefit?
It is the selected daily hospitalization cash benefit amount:
- ₹1,000
- ₹2,000
- ₹3,000
- ₹4,000
which increased by 5% every year up to 1.5 times the original benefit amount over 10 years.
Conclusion
Although LIC Jeevan Arogya Plan 904 was withdrawn in July 2021, it remains one of LIC’s notable fixed-benefit health insurance products. The plan stood out because of its family floater feature, yearly benefit escalation, and simplified claim process without reimbursement hassles.
Understanding the structure, features, and calculator method of LIC Jeevan Arogya Plan 904 can still help policyholders and insurance seekers compare modern LIC health insurance products such as LIC Arogya Rakshak Plan 906 and make informed healthcare protection decisions.
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