LIC Arogya Rakshak Plan 906 Calculator
UIN: 512N318V01
Launch Date: 19th July 2021
Withdrawal Date: 1st January 2025
Plan Type: Non-Linked, Non-Participating Health Insurance Plan
PLAN WITHDRAWNPremium Calculation Results
Key Benefits of Arogya Rakshak Plan 906
- Hospital Cash Benefit (HCB): Daily benefit for hospitalization
- Major Surgical Benefit: 100 times the Applicable Daily Benefit
- Day Care Procedure Benefit: 5 times the Applicable Daily Benefit
- Other Surgical Benefit: 2.5 times the Applicable Daily Benefit
- Medical Management Benefit: For Dengue, Malaria, Pneumonia, TB, Hepatitis A
- Extended Hospitalization Benefit: 10 times ADB for 30+ days continuous hospitalization
- Auto Step-Up Benefit: HCB increases by 15% every 3 years (up to 1.5x initial HCB)
- No Claim Bonus: 5% of HCB added every 3 years if no claim
- Health Check-Up Benefit: Available every policy year
Health is wealth, and protecting yourself and your family from health emergencies is essential. The Life Insurance Corporation of India’s (LIC) Arogya Rakshak Plan 906 is a special health insurance product designed to provide financial support during hospitalization and surgeries.
Introduction to LIC Arogya Rakshak Plan 906
LIC launched the Arogya Rakshak Plan 906 on 19th July 2021. It is a non-linked, non-participating, individual health insurance plan that provides fixed benefits during hospitalization and surgeries irrespective of the actual medical expenses. This means that you receive a lump sum amount based on the sum insured, not just the bills you submit. It supports you financially in medical emergencies without requiring expense proof for reimbursement.
The plan covers the principal insured (policyholder), spouse, children, and parents in one policy. It is generally available until the insured attains the age of 80 years (depending on the category of insured).
As of now, there has been no official withdrawal date announced for this plan, and it continues to be available for purchase.
Unique Features of Arogya Rakshak Plan 906
This plan is different from most health insurance policies because it works on a fixed benefit basis rather than hospital expense reimbursement. Here are some of the key features:
- Fixed Benefits: You get lump sum cash benefits on hospitalization and surgery irrespective of actual costs.
- Coverage for Multiple Family Members: Principal Insured can cover spouse, children, and parents under a single policy.
- Auto Step-Up Benefit: Benefits increase automatically by 10% every year for the first 5 years.
- No Claim Bonus: A bonus is awarded for every claim-free year.
- Health Check-up Benefit: Periodic health check-ups are covered.
- Extended Hospitalization Benefit: Additional benefits if hospitalization extends beyond 10 days.
- Quick Cash Facility: Immediate cash support on hospitalization.
- Optional Riders: You can add riders like Term Assurance and Accident Benefit for enhanced protection.
- Policy Term and Modes: Premiums can be paid yearly or half-yearly, and coverage continues till age 80 for adults.
Benefits in Detail
Let’s break down the major benefits this plan offers:
Hospital Cash Benefit (HCB)
When hospitalized for more than 24 hours, you get a fixed daily cash benefit starting from Rs 2,500 up to Rs 10,000 per day depending on your chosen daily cash benefit amount. This amount is provided for a maximum number of days indicated in the policy.
Major Surgical Benefit (MSB)
For surgeries that meet specified criteria, the plan pays a lump sum amount based on the surgery category. This benefit is paid once per surgery and can be claimed multiple times for different surgeries in the policy term.
Day Care Procedure Benefit (DCP)
This benefit covers surgeries or treatments that do not require 24 hours of hospitalization but are medically necessary. They are covered with fixed lump sum benefits.
Other Surgical Benefit (OSB)
Covers minor surgeries and procedures with defined fixed benefits as per policy guidelines.
Medical Management Benefit (MMB)
Supports expenses related to hospitalization and medical management as a fixed cash amount.
Extended Hospitalization Benefit (EHB)
If hospitalization extends beyond 10 days, an additional fixed amount is paid to help manage extended medical costs.
Additional Benefits
- Auto Step-Up Benefit: Yearly increase of 10% in fixed benefits for the first 5 years.
- No Claim Bonus: Increase in benefits for every claim-free year.
- Health Check-up Benefit: Periodic health checkups included.
- Auto Health Cover Benefit: In case of death of the original Principal Insured, coverage is extended automatically to surviving family members.
Eligibility Conditions
| Condition | Principal Insured (PI) | Insured Spouse/Parents | Insured Children |
|---|---|---|---|
| Minimum age at entry | 18 years | 18 years | 91 days completed |
| Maximum age at entry | 65 years | 65 years | 20 years |
| Cover ceasing age | 80 years | 80 years (70 years for AHC) | 25 years |
| Minimum Initial Daily Benefit | Rs 2,500 | Rs 2,500 | Rs 2,500 |
| Maximum Initial Daily Benefit | Rs 10,000 | Up to PI | Up to insured spouse or PI if no spouse |
How to Use LIC Arogya Rakshak Plan 906 Calculator
Calculating the premium is essential before purchasing the plan, to understand how much you need to pay annually or semi-annually. The LIC Arogya Rakshak Plan calculator helps estimate the premium based on age, number of insured members, daily cash benefit chosen, and payment mode.
Steps to Use the Calculator:
- Select Number of Persons: Enter the number of family members to be covered (up to 8).
- Choose Payment Mode: Select yearly or half-yearly premium payment.
- Enter Details of Principal Insured: Provide age, gender, and initial daily cash benefit.
- Add Other Members: Include spouse, children, and parents’ details if covered.
- Calculate Premium: Click on “Calculate Premium” to see the total premium amount.
- Benefit Calculation: Some calculators also show projected benefits and bonuses.
This tool helps you make an informed decision and budget appropriately for your health cover.
Sample Premium Calculation Example
Suppose a 40-year-old man wants to insure himself and spouse with a daily cash benefit of Rs 5,000 and chooses yearly premium payment. Using the calculator, the premium amount is calculated considering age, benefit level, and family members. This helps you see the annual payment and benefits you will receive.
Additional Riders and Benefits
Apart from core benefits, optional riders can enhance coverage:
- Term Assurance Rider: Provides life cover on the principal insured along with health benefits.
- Accident Benefit Rider: Offers extra benefits in case of accidental injuries or death.
- Premium Waiver Benefit: Waives premiums in case of specified events.
These add-ons allow customization based on your needs and budget.
Advantages of LIC Arogya Rakshak Plan 906
- Fixed benefits simplify claim process without bills hassles.
- Family cover under one plan for convenience.
- Auto-increase and bonuses enhance value over time.
- Health check-up benefit encourages preventive care.
- Flexible premium payment modes.
- Trusted provider LIC ensures reliability.
Things to Remember Before Buying
- Confirm eligibility age for all insured members.
- Choose daily cash benefit wisely matching your potential hospitalization needs.
- Understand waiting periods for pre-existing diseases and exclusions.
- Review riders carefully and add if needed.
- Calculate premium using the calculator for budget planning.
Where to Buy and Additional Information
The LIC Arogya Rakshak Plan 906 can be purchased from LIC branches, authorized agents, and online LIC portals. Official LIC websites provide detailed brochures, premium calculators, and policy documents for reference.
For official plan brochure and details, visit LIC India LIC Arogya Rakshak Plan 906 Brochure
Current Plan Status and Withdraw Date
- Launch Date: 19th July 2021
- Withdraw Date: No official announcement as of October 2025
Frequently Asked Questions
What is LIC Arogya Rakshak Plan 906?
It is a fixed benefit health insurance plan by LIC that provides lump sum benefits during hospitalization and surgeries, regardless of actual medical expenses.
When was the Arogya Rakshak Plan 906 launched?
The plan was launched on 19th July 2021 and is currently active for new enrollments.
Who can buy this plan?
Any healthy individual aged between 18 and 65 years can opt as Principal Insured. It also allows coverage of spouse, children (from 91 days to 20 years), and parents under one policy.
What benefits does this plan offer?
It offers Hospital Cash Benefit, Major Surgical Benefit, Day Care Procedure Benefit, Medical Management Benefit, and Extended Hospitalization Benefit along with auto step-up and no claim bonuses.
Is this a reimbursement policy?
No, it pays a fixed lump sum cash benefit during hospitalization/surgery, independent of actual hospital bills.
Can I buy this plan for my whole family?
Yes, the plan covers multiple lives under a single policy including spouse, children, and parents.
Conclusion
In conclusion, LIC Arogya Rakshak Plan 906 is a comprehensive health insurance policy designed to provide fixed, lump-sum benefits during hospitalization, major surgeries, day care procedures, and extended hospitalization, irrespective of actual medical expenses. Launched on 19th July 2021, it remains an active plan (with no official withdrawal date announced) and offers coverage not just for the principal insured but also for spouse, children, and parents under a single policy.
The plan stands out for its simplicity in claims with fixed payments, automatic step-up benefits increasing coverage over time, no-claim bonuses rewarding policyholders, and the flexibility to add riders such as term assurance and accident benefits for enhanced protection.