LIC Healthee Plan 244

About LIC Healthee Plan 244

The LIC Healthee Plan 244 is designed to provide high life insurance cover at a competitive premium while giving the flexibility to enhance protection through optional riders. During the policy term, the base policy provides a death benefit and riders can provide financial security in case the life guaranteed is diagnosed with a covered critical disease, suffers total and permanent disability or requires extended hospitalisation.

The minimum sum assured under the base policy is USD 300,000, and policyholders can choose the riders based on their protection requirements.

Key Features of LIC Healthee Plan 244

Following are the main features of Healthee Plan 244:

• Non-profit pure term insurance plan

• High life cover starting from USD 300,000

• Premium rates vary based on age, gender, and smoking status

• Lower premium rates for non-smokers

• Optional riders for critical illness, total and permanent disability, and hospital cash benefit

• Covers 37 defined critical illnesses under the Critical Illness Rider

• Built-in accidental death benefit of USD 100,000

• Premium payment modes available yearly, half-yearly, and Salary Saving Scheme (SSS)

• No surrender value, maturity benefit, loan facility, or paid-up value

Eligibility Criteria for LIC Healthee Plan 244

You have to meet all the following eligibility requirements for Healthee Plan 244:

Benefits of LIC Healthee Plan 244

Healthee Plan 244 offers protection through the base policy along with optional rider benefits.

Death Benefit

If the life assured passes away during the policy term, the nominee receives the basic sum assured as the death benefit.

Accident Benefit

If death occurs due to an accident during the policy term, the nominee receives the basic sum assured along with an additional USD 100,000 accidental death benefit.

Accelerated Critical Illness Rider

This optional rider pays a lump sum benefit if the life assured is diagnosed with any of the 37 covered critical illnesses, including cancer, stroke, heart attack, coronary artery bypass surgery, kidney failure, major organ transplant, paralysis, blindness, coma, severe burns, and major head trauma.

The rider benefit is paid only once. After payment, the rider terminates and the death benefit under the base policy is reduced by the amount paid.

Accelerated Total and Permanent Disability Rider

This rider provides a lump sum benefit if the life assured suffers total and permanent disability due to an accident or sickness.

The rider benefit is paid in advance from the base policy sum assured, reducing the remaining death benefit by the amount paid.

Hospital Cash Benefit Rider

The Hospital Cash Benefit Rider pays a daily cash benefit if the life assured remains continuously hospitalised for more than 48 hours.

• Minimum hospital cash benefit: USD 100 per day

• Maximum hospital cash benefit: USD 300 per day, depending on the base policy sum assured

• Benefit payable for up to 30 days in a policy year, subject to a maximum of 180 days during the policy term

Policy Details of LIC Healthee Plan 244

The LIC Healthee Plan 244 includes the following servicing features.

Rider Limits

Surrender Value

The base policy and all riders do not acquire any surrender value.

Maturity Benefit

There is no maturity benefit under the base policy or any rider.

Policy Loan

No policy loan facility is available under Healthee Plan 244.

Paid-Up Value

The policy does not acquire any paid-up value.

Grace Period

• 30 days for yearly and half-yearly premium payments

• 15 days for monthly premiums under the Salary Saving Scheme (SSS)

If the premium is not paid within the applicable grace period, the policy lapses and all benefits cease.

Underwriting Requirements

Applicants choosing non-smoker premium rates must undergo a urine cotinine test. Other underwriting requirements are assessed according to the insurer's underwriting policy.

Exclusions of Healthee Plan 244

Certain policy benefits are subject to exclusions and waiting periods.

Critical Illness Rider Waiting Period

Critical illness claims are not payable if the covered illness is diagnosed within six months from the date of risk commencement or policy revival.

Hospital Cash Benefit Waiting Period

A 90-day general waiting period applies from the date of risk commencement or revival. This waiting period does not apply to hospitalisation resulting from an accident.

A 365-day specific waiting period applies for hospitalisation due to specified illnesses.

Rider Claim Restriction

If a claim qualifies under both the Critical Illness Rider and the Total and Permanent Disability Rider due to the same illness or cause, only the higher rider benefit is payable.

General Exclusions

Benefits under the base policy and riders are subject to the exclusions and conditions specified in the policy terms and conditions.

FAQs