HEALTH PLUS (Plan No. 901) – Clarification

LIC’s HEALTH PLUS (Plan No. 901) – Clarification to the Introductory Circular

This is further to our introductory circular Ref: Actl/PD/2124/4 dated 4th January 2008 in respect of the above plan.

It has been decided to launch LIC’s Health Plus Plan on 4th February 2008.

We have been receiving queries regarding the above plan from various offices. Given below are the clarifications to these queries:

1. Charges: The charges given in Annexure I to the circular are the rate of charges per annum.

2. Class I Extra: Rates of Class I extra charges per annum are enclosed as Annexure to this circular.

3. Proposal Form:
1) S. No. 4 in the Check List is to be corrected as “Additional Form (Annexure I & II)” instead of “Addition (Annexure I & II)”.

2) As per circular issued by Underwriting & Reinsurance department, Ref: U & R/5/2008 dated 16.1.08, proof of income need not be insisted upon. Hence Income Proof mentioned under S. No. 13 of Check List is optional.

3) The “Medical Requirements” part below the “Check List” is to be modified as below:
Following Medical Requirements will have to be called for if a proposal cannot be considered under non-medical scheme:
Major Surgical Benefit Sum Assured Age at entry (Last Birthday) (yrs)
Up to 35 36 – 45 46 – 50 51 - 55
50,000 to 1,00,000 FMR FMR FMR A
1,00,001 to 2,00,000 FMR FMR A B
2,00,001 to 3,00,000 FMR A B B
3,00,001 to 5,00,000 FMR B B C
Where FMR – Full Medical Report; A – FMR, FBS, RUA; B – FMR, FBS, RUA, HbA1c, ECG ; C – FMR, ECG, FBS, RUA, HbA1c, CTMT
Note: The above requirements are mandatory. In addition, if any other Medical/ Special reports are called for by the underwriter, they will have to be furnished.

New Proposal Forms will be printed with the above modifications.
However, in the proposal forms which have already been printed, the “Medical Requirements” part may be cancelled using a rubber stamp and the medical requirements, if any, may be called as per above.

4. Minimum Premium: The minimum premium mentioned under para 11 of the circular dated 04.01.2008 is applicable for standard lives. For sub-standard lives, minimum premium will be as under:
If policy is issued on single life-
Higher of
- Rs. [5,000] p.a., and
- 9 times the Hospital Cash Benefit (HCB) of Principal Insured (PI)
If policy is issued on 2 lives-
Higher of
- Rs. [7,500] p.a., and
- The arithmetic sum of 9 times the HCB of PI and 5 times the HCB of other Insured
If policy is issued on more than 2 lives-
Higher of
- Rs. [10,000] p.a., and
- The arithmetic sum of 9 times the HCB of PI and 5 times the HCB of each of the other Insureds