A recent press report said that LIC has introduced a new health policy that covers your parents’ in-law in heath insurance, apart from your parents. The name of the scheme is ‘Jeevan Arogya’, which offers comprehensive hospitalisation benefits for the whole family, including in-laws of the principal insured.
The features of the policy are very attractive. The premiums of the policy do not increase every year. But there is a 5 per cent increase in medical expenses every year. In case no claim is made under the policy for three years, the benefits payable would be further enhanced by 5 per cent without any upper limit.
The policy is offered for an initial daily benefit of Rs 1,000-4,000 and the major surgical benefit would be 100 times the daily benefit. The policy also offers quick cash facility allowing payment of 50 per cent of entitlement as advances in the case of 57 surgeries.
The minimum age entry for the principal insurance is fixed as 18 years while it is 75 years for parents and in-laws.
LIC housing finance ltd has LIC Griha Prakash and Griha Laxmi LIC home loan plan where individuals can get LIC housing loan amounting to 85% of the total property cost provided the total value of the property doesn’t exceed the value of 1 Crore Rupees.