LIC Arogya Rakshak is LIC's standalone health insurance product - different from regular health insurance because it pays fixed benefits regardless of actual hospital bills.
Fixed Benefit vs Reimbursement: Key Difference
Most health insurance (Star, Max Bupa, HDFC Ergo) reimburses your actual hospital bill. Arogya Rakshak is different: it pays a fixed daily benefit and fixed surgical benefit regardless of the actual expense. This means:
- ▸Your hospital bill is Rs 80,000 - you get the fixed benefit (say Rs 50,000) regardless
- ▸Your hospital bill is Rs 30,000 - you still get the full fixed benefit (Rs 50,000)
- ▸You can combine it with regular health insurance - there is no deduction for other insurance
Key Benefits of Arogya Rakshak
Hospital Cash Benefit: Rs 1,500 to Rs 10,000 per day during hospitalisation (you choose the benefit level)
Major Surgical Benefit: Flat payment for 884 listed surgical procedures - classified into 4 tiers (100%, 60%, 40%, 20% of annual benefit)
ICU Benefit: Double the daily hospital cash rate during ICU admission
Day Care Procedures: Lump sum for specified procedures not requiring 24-hour hospitalisation
Ambulance Cover: Rs 1,000 per hospitalisation
Who Should Buy Arogya Rakshak?
Good for:
- ▸Self-employed, businessmen, daily wage earners who cannot afford income loss during hospitalisation
- ▸Those with group health cover at work but no daily cash benefit
- ▸Senior citizens who want supplementary income during hospitalisation (up to 65 years entry)
Honest Limitation: Arogya Rakshak does NOT replace a proper indemnity health insurance plan. Cancer treatment costing Rs 15 lakh will not be covered by the fixed benefits. You must have a regular health insurance policy alongside it.
Sample Premium
A 35-year-old taking daily benefit of Rs 3,000 and major surgical benefit of Rs 3 lakh:
- ▸Approximate annual premium: Rs 6,000-8,000
For complete health protection: buy a family floater health policy (Star/HDFC Ergo) for hospitalisation bills, and add Arogya Rakshak for daily income and surgical support. Call Ajay Kumar Poddar at 9415313434 to build your health insurance stack.
