LIC Jeevan Arogya Plan 903 Calculator

The LIC Jeevan Arogya Plan 903 is a unique health insurance plan introduced by the Life Insurance Corporation of India (LIC) to provide financial protection against health-related emergencies, especially hospitalization and surgeries.

Unlike traditional insurance policies that reimburse actual medical expenses, this plan offers fixed lump sum benefits for hospitalization, surgery, and day-care procedures, helping insured individuals and families to manage their health expenses efficiently.

Launch and Withdrawal Dates

LIC Jeevan Arogya Plan 903 was officially launched on 1st June 2011. It marked LIC’s entry into the non-linked, non-participating health insurance segment with fixed benefit payouts. The policy remains active and available for new buyers as of 2025.

Note: There was an earlier related plan, LIC Jeevan Arogya Plan 904, which was withdrawn on 1st October 2020. However, Plan 903 continues to be a popular choice for fixed benefit health insurance.​

What is LIC Jeevan Arogya Plan 903?

LIC Jeevan Arogya Plan 903 is a non-linked, non-participating health insurance plan that provides fixed lump sum benefits against hospitalization and surgeries for specified ailments. The unique feature of this plan is offering pre-determined daily hospitalization cash and lump sum surgery benefits irrespective of actual hospitalization or medical costs.

It is especially beneficial in managing financial risks due to unexpected health events by providing timely cash aid that can be used without restrictions. The plan covers the policyholder as well as their family members including spouse, children, parents, and parents-in-law.

Key Features of LIC Jeevan Arogya Plan 903

• Hospital Cash Benefit (HCB): Daily fixed cash benefit for each day of hospitalization.
• Major Surgical Benefit (MSB): Lump sum payout for undergoing any of the 140 major surgeries listed in the policy.
• Day Care Procedure Benefit (DCPB): Lump sum for around 140 day-care procedures that do not require overnight hospital stay.
• Other Surgical Benefit (OSB): Covers surgeries not listed under major or day-care, offering lump sum benefit based on hospitalization days.
• Increasing Health Cover: The benefits increase 5% every year as a renewal bonus up to a maximum of 1.5 times the original benefit to keep pace with rising medical costs.
• No Claim Bonus: If no claims are made for the first three years, the daily benefit is increased by 5% beyond the renewal bonus.
• Premium Waiver Benefit: The policy offers a premium waiver for the subsequent year’s premium in case of a claim under Major Surgical Benefit.
• Flexible Sum Assured: Choose your cover from Rs. 1 lakh to Rs. 4 lakh for surgical benefits.
• Riders Available: Optional Term Assurance Rider and Accident Benefit Rider can be purchased for added protection.
• Ambulance Charges: Reimburses up to Rs. 1,000 for ambulance services.
• Family Coverage: Can cover the principal insured and family members under one policy.

Eligibility Criteria

• Entry Age:
  • Principal Insured and Spouse: 18 to 65 years
  • Children: 91 days to 17 years
  • Parents and Parents-in-law: 18 to 75 years
• Policy Term: Up to 30 years or maximum age 85 years
• Premium Payment Term: Yearly or as per policy terms
• Waiting Period: 90 days from policy commencement

These criteria ensure the plan is accessible to a wide range of ages and family members.​

Benefits Explained Simply

Hospital Cash Benefit (HCB)

If you get admitted to a hospital, LIC pays a fixed amount every day of hospitalization. The amount depends on the plan you choose initially and increases every year by 5%. So this helps cover daily expenses that come up during hospital stays, like room rent, food, travel, and personal care.

Major Surgical Benefit (MSB)

For about 140 major surgeries listed in the policy (such as heart surgeries, organ transplants), a fixed lump sum amount is paid once per policy year after the surgery is done. This amount is a multiple (up to 100 times) of the initial daily hospital cash benefit. This lump sum supports recovery costs, medicines, and other surgery-related expenses.

Day Care Procedure Benefit (DCPB)

Some medical procedures don’t require overnight stay in the hospital but can be costly. This benefit provides lump sum cash for more than 140 such procedures at a rate about 5 times the initial daily benefit.

Other Surgical Benefit (OSB)

If a surgical procedure is not listed under Major or Day Care, the plan still covers it by offering 2 times the daily hospitalization benefit for each day of hospital stay related to that surgery.

Premium Waiver Benefit

In case of a major surgery claim, LIC waives the premium for the next year. This feature financially relieves policyholders during health emergencies.

No Claim Bonus and Renewal Benefits

If you don’t claim for the first three years, your daily hospital cash benefit increases by 5% extra on top of annual bonus increases every renewal, which helps your coverage keep up with inflation in healthcare costs.

Optional Riders

• Term Assurance Rider: Provides life cover up to 100 times the daily hospital cash benefit.
• Accident Benefit Rider: Covers accidental death or disability with sum assured linked to Term Assurance Rider.

Including these riders adds comprehensive protection to your plan.​

How LIC Jeevan Arogya Plan 903 Differs from Other Health Plans

Unlike regular health insurance that reimburses actual medical expenses, LIC Jeevan Arogya provides fixed benefits regardless of the actual amount spent. This simplifies claim process and ensures timely financial aid, making it a reliable back-up plan especially for planned surgeries and hospitalizations.

It also provides coverage for day care and other surgical procedures which some traditional plans may exclude or limit.

Understanding the LIC Jeevan Arogya Plan 903 Calculator

The LIC Jeevan Arogya Calculator is a tool that helps you estimate the premium amount you need to pay based on your chosen cover level, age, family members, and additional riders.

Using this calculator, you can:

• Select the daily hospital cash benefit amount you want.
• Choose the sum assured for surgical benefits.
• Add optional riders if needed.
• Enter ages of insured family members.
• Get an estimated premium for yearly, half-yearly, or quarterly payment modes.

Why Using the Calculator is Important?

Health insurance premiums vary significantly based on age and coverage. The calculator helps you:

• Plan your budget easily.
• Compare premiums for different cover amounts.
• Decide on riders and terms.
• Understand the impact of adding family members.

This helps make an informed choice without surprises at the time of policy purchase.

How to Use LIC Jeevan Arogya Plan 903 Calculator?

1. Visit an authorized LIC branch or LIC’s official website.
2. Provide details like principal insured’s age, number of family members to be covered.
3. Choose the level of hospital cash benefit (e.g., Rs. 1000, Rs. 2000, etc.).
4. Select the sum assured for major surgical benefits.
5. Opt for riders like Term Assurance or Accident Benefit as per need.
6. The calculator then displays the premium payable yearly, half-yearly, or quarterly.
7. You can adjust the inputs to see different premium options.

Many LIC agents offer this calculator in physical form or software to help customers. LIC also provides PDF forms and documents with premium tables, which can be used for manual premium calculations.​

Sample Calculation

For example, a 35-year-old principal insured wanting Rs. 2000 per day hospitalization benefit with Rs. 2,00,000 surgical cover for self and spouse might see an annual premium of approx Rs. 20,000. Adding children or parents will increase the premium accordingly.

Using the calculator before buying allows you to know the exact cost and choose the best options.

Important Documents and References

For detailed plan terms, benefits, and premium tables, LIC publishes policy documents and sales brochures freely accessible on their website. Customers are encouraged to read these thoroughly before purchasing:

• LIC Jeevan Arogya Plan 903 policy document (in English) [Reliable LIC Source]
• Lic Jeevan Arogya sales brochure PDF for plan features
• Premium tables for different ages and cover amounts

These official documents ensure transparency and clarity about the plan’s features and legal terms.​

Benefits of Choosing LIC Jeevan Arogya

• Fixed Lump Sum Benefits: No hassles about submitting multiple bills or reimbursement delays.
• Simple Claim Process: Faster, as benefits are fixed and not tied to actual hospitalization costs.
• Family Coverage: Protects your entire family including parents and in-laws under one policy.
• Renewal Bonus: Helps coverage keep pace with inflation.
• Premium Waiver Feature: Financial relief during major surgery claims.
• Affordable Premiums: Reasonably priced given fixed benefits and no medical test required for entry.
• Peace of Mind: Ensures you get timely financial help during hospital stays or surgeries.

Limitations and Things to Note

• The plan does not reimburse actual medical expenses but provides fixed cash benefits.
• It covers specified listed procedures and surgeries; some exclusions apply as mentioned in policy.
• Waiting period of 90 days for initial claims.
• Certain pre-existing conditions may be subject to waiting or exclusion.
• Riders are optional and come with additional premium costs.
• Does not cover outpatient treatments, only inpatient hospitalization and surgeries.

Who Should Buy LIC Jeevan Arogya Plan?

This plan is suitable for:

• Individuals looking for fixed benefits health cover without hassle of expense claims.
• Families wanting lump sum cash to cover hospitalization and surgery costs.
• People with existing health insurance wanting extra fixed benefit backup.
• Those who prefer a simple cash-benefit health insurance plan.
• Senior citizens within entry age limit who want hospitalization support.

It’s ideal as a supplementary health plan to other expense-reimbursement policies.

Tips Before Buying the Policy

• Use the LIC Jeevan Arogya calculator to estimate premiums accurately.
• Read the sales brochure and policy document carefully.
• Understand the list of covered surgeries and exclusions.
• Consider adding riders for complete protection.
• Compare the plan with other health insurance policies.
• Consult LIC agents or official website for detailed queries.

FAQ

Conclusion

LIC Jeevan Arogya Plan 903 is a straightforward and reliable fixed benefit health insurance plan offering daily hospitalization cash and lump sum surgical benefits to the insured and their family. Launched in 2011 and still available, it remains an attractive option for those seeking simple, hassle-free health protection with family coverage.

Using the LIC Jeevan Arogya Calculator to estimate premiums before purchase helps in making informed choices regarding the coverage amount, riders, and total premium outgo. It is suitable for individuals wanting fixed cash benefits as a backup health cover alongside or independent of traditional health expense reimbursements.

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