Tuesday, September 16, 2008

LIC's Health Plus Plan (Unit linked health insurance plan)

LIC has come out with an Unit Linked Health Insurance plan. It's similar to your regular ULIP plan where you get risk cover of your life, In this plan you get risk cover of your health.

In this times when the health cost are always rising and getting unaffordable it becomes prudent to have a mediclaim policy or a health cover. This policy is different then your regular Mediclaim policy.

LIC's Health Plus is a very good add on policy, as it provides MAJOR SURGERY benefit of Rs.4 Lakh for a yearly premium of Rs. 12000. This policy can be continued till the age of 65 years.

Unlike most mediclaim were your premiums are gone. In this policy major part of your premium is invested and hence you can look forward for large kitty when you turn 65.

I would say if LIC would have done away with few of the charges it would have been a much better product.
1) Admin Charge : Rs 75 per month for first year then onward Rs 25 per month
2) Fund Management Charges : 1.25% per annum

Its worth taking a look at this policy.

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