LIC Launches New 'Health Shield' Plan 907: Patients to Receive ₹10,000 Daily

To provide relief from the rising costs of expensive medical treatments, LIC has launched its new 'Health Shield' Plan 907. Let’s explore the key details of this plan.

Due to modern dietary habits, illnesses are on the rise. If someone falls ill and requires a prolonged hospital stay, the financial burden of medical treatment inevitably falls on the family.

Imagine receiving a fixed daily allowance while undergoing hospital treatment—this could provide significant financial support. Keeping this in mind, LIC has introduced its new 'Health Shield' Plan 907. Its most notable feature is that, subject to certain conditions, patients can receive a fixed daily payout.

A Fixed Daily Payout

LIC’s new plan offers a 'Hospital Cash Benefit.' In simpler terms, once the specific conditions of the policy are met, the patient receives a fixed amount for every day spent in the hospital. Naturally, the question arises: what exactly is this amount?

Key Details of the Policy

If a patient remains hospitalized for more than a month, an additional lump-sum payment may be provided.
Furthermore, if no claims are filed for three consecutive years, the daily benefit amount may increase.
However, these benefits are subject to the terms and conditions of the policy.
The plan also includes provisions for health check-ups.
The policy term is 15 years.
Premiums are determined based on age, the number of family members covered, and the specific benefits selected.
Additionally, under certain circumstances, there is a provision for a premium waiver.
Please note: Before purchasing the policy, ensure you fully understand the associated benefits, rules, terms, and premium details before making a decision.

What is the Payout Amount?

The fixed daily amount provided can range from ₹2,500 to ₹10,000. This can offer significant financial support to the patient's family. Notably, the plan also includes several other benefits.

These benefits include:

A lump-sum payment is provided in the event of major surgeries requiring hospitalization.
Coverage is also available for the treatment of specific illnesses, as per the policy terms.
Financial benefits are provided for designated medical procedures.
However, these are subject to conditions such as a minimum duration of hospitalization and other policy-specific terms.

Keep these points in mind before purchasing the policy:

First, review all the benefits offered under the policy and their respective limits.
Familiarize yourself with the claims process in the event of hospitalization.
Understand the benefits applicable in case of admission to the ICU.
Additionally, learn about the rules regarding premium payments and the terms for exiting the policy.
You can find detailed information and the terms and conditions of the policy on the official LIC website.