LIC Jeevan Arogya Plan 904 is a unique non-linked, non-participating health insurance plan launched by the Life Insurance Corporation of India (LIC). It was designed to offer financial protection to individuals and families against specified health risks, especially hospitalization and surgical expenses.

Unlike traditional health insurance that reimburses actual medical expenses, this plan provides fixed benefits irrespective of actual costs, supporting policyholders with timely financial assistance during medical emergencies.

This plan was officially launched on October 1, 2020, and was withdrawn from sale on July 12, 2021. Though discontinued, understanding its features, benefits, and premium calculation method remains useful for those interested in LIC health insurance plans and similar products.

Key Features of LIC Jeevan Arogya Plan 904

• Fixed Benefits: Offers fixed lump sum benefits for hospitalization, surgery, and daycare procedures regardless of actual medical expenses.
• Family Floater Option: Covers the principal insured, spouse, children, parents, and parents-in-law under one policy.
• Increasing Health Cover: The health cover and benefits increase by 5% every year for 10 years.
• Flexible Benefit Limits: You can choose the daily hospital cash benefit and major surgical benefit sum assured as per your needs.
• Additional Riders: Term Assurance Rider and Accident Benefit Rider available optionally for enhanced protection.
• No Claim Benefit: Provides benefits without the need to submit actual hospital bills or expenses.
• Premium Payment Options: Premiums can be paid yearly or half-yearly as per convenience.
• Income Tax Benefits: Premiums paid are eligible for deduction under Section 80D of the Income Tax Act.

Important Dates

Event	Date
Plan Launch Date	October 1, 2020
Plan Withdrawal Date	July 12, 2021

The plan was withdrawn officially to make way for more updated health insurance products, like LIC’s Arogya Rakshak Plan 906, which offers more comprehensive coverage.

Benefits Offered Under LIC Jeevan Arogya Plan 904

Hospital Cash Benefit (HCB)

This benefit pays a fixed amount per day of hospitalization due to illness or injury. You can select a daily benefit amount of Rs. 1000, 2000, 3000, or 4000. The daily benefit increases by 5% every year for 10 years, up to a maximum of 1.5 times the initial benefit.

Major Surgical Benefit (MSB)

This provides a lump sum amount on undergoing specified major surgical procedures. You can choose a sum assured of Rs. 1 lakh, 2 lakhs, 3 lakhs, or 4 lakhs depending on your requirement. This benefit is payable only once during the policy term for each insured member.

Day Care Procedure Benefit (DCPB)

Covers fixed lumpsum payments for specified daycare surgical procedures that do not require 24-hour hospitalization, such as cataract surgery, endoscopy, dialysis, etc.

Other Surgical Benefit (OSB)

This covers various other surgeries specified under the plan at fixed benefit levels, irrespective of actual surgical expenses.

Additional Benefits (Riders)

• Term Assurance Rider: Provides a risk coverage sum assured payable on death during the policy term.
• Accident Benefit Rider: Offers additional financial benefits in case of accidental death or disability.

Eligibility and Coverage Details

• Age at Entry: 5 to 65 years
• Policy Term: 10 years (with no provision for revival after maturity)
• Coverage Type: Individual or Family Floater
• Maximum Insurable Amount on One Life (including related plans 901, 902, 903): Rs. 10 lakhs

How to Use LIC Jeevan Arogya Plan 904 Calculator

The LIC Jeevan Arogya Calculator helps prospective policyholders estimate their premium payments and visualize benefits based on their selected options, such as hospital cash benefit and family members covered.

Step-by-step calculation process:

1. Select Number of Insured Persons: You can add your family members (spouse, children, parents, etc.).
2. Choose Daily Hospital Cash Benefit: Pick one from Rs. 1000 to Rs. 4000 per day.
3. Select Major Surgical Sum Assured: Options range from Rs. 1 lakh to Rs. 4 lakhs.
4. Input Ages of Insured Members: Age influences premium calculation.
5. Optional Riders: Add Term Assurance or Accident Benefit riders if desired.
6. Calculate Premium: The calculator will give the yearly or half-yearly premium payable and an overview of benefits.

This calculator simplifies understanding how much premium you need to pay for the coverage and benefits, helping you plan your insurance budget better.

Example of Premium Calculation

Suppose Mr. Arun (age 35), his spouse Shilpa (age 32), and son Aadhi (age 4) want to cover themselves with this plan. They choose a daily hospital cash benefit of Rs. 2000 for Mr. Arun and Shilpa, and Rs. 1000 for Aadhi. The calculator estimates the total premium they must pay yearly, considering the age of each insured individual and benefits selected.

(The actual premium will depend on the exact plan year rates and rebate options like CEIS rebate of 10% for direct proposals.)

Premium Rebate and Tax Benefits

• Rebates for Higher Hospital Cash Benefit: For hospital cash benefits greater than Rs. 1000, LIC provides premium rebates. For example, at Rs. 2000 hospital cash benefit, you get a Rs. 500 rebate on the principal insured premium.
• CEIS Rebate: A 10% rebate on the tabular premium if submitted directly.
• Income Tax Rebate: Premium paid under this plan is eligible for tax deduction under Section 80D of the Income Tax Act up to Rs. 25,000 (Rs. 30,000 for senior citizens).

Important Points to Remember

• The plan does not reimburse actual medical expenses, rather it pays fixed benefits as per chosen options.
• Benefits under the plan are independent and in addition to other mediclaim policies.
• The daily hospital cash benefit increases by 5% every year, up to 1.5 times the initial benefit.
• The maximum health insurance sum on one life across plans 901, 902, 903, and 904 should not exceed Rs. 10 lakhs.

Why Choose LIC Jeevan Arogya Plan 904?

• It acts as a complementary cover along with your existing medical insurance.
• Helps maintain financial stability during surgical procedures and hospitalization.
• Provides flexibility with benefit limits and family coverage.
• Easy claim process without submitting hospital bills.
• Benefits increase every year, providing better cover over time.

Frequently Asked Questions

Conclusion

Although LIC Jeevan Arogya Plan 904 has been withdrawn since July 2021, it remains a noteworthy example of a non-linked health insurance plan offering fixed benefit protection against hospitalization and surgical expenses. The plan’s innovative features, such as flexible benefit limits, the family floater option, and benefit escalation each year, made it highly attractive.

For those who wish to manage health-related financial risks effectively, understanding how this plan worked—as well as how to use its premium and benefit calculator—can be valuable. LIC continues to innovate and offer newer health insurance products, so staying updated with the latest plans like LIC Arogya Rakshak Plan can help you make better insurance decisions.