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LIC Health Shield Plan 907: Can it replace regular health insurance? Features and benefits
Mint 1 hr ago·29 Oct 2026, 9:52 am
LIC Health Shield Plan 907 is a non-linked, non-participating health insurance plan that offers fixed payouts for hospitalisation, surgeries, and specific medical procedures. Unlike traditional comprehensive health insurance, which typically covers pre and post-hospitalisation expenses, this plan provides lump-sum benefits upon diagnosis of covered conditions. It includes a critical illness benefit and a terminal illness benefit, paying out a sum assured if the insured is diagnosed with a specified critical illness or passes away due to a terminal condition.
For investors, this plan is significant as it provides a structured way to manage healthcare costs through lump-sum payments. It can be particularly useful for covering out-of-pocket expenses or as a supplement to existing health coverage. However, it is important to note that it does not cover pre-existing diseases for the first few years and has a specific waiting period for certain benefits. Investors should carefully review the policy terms to ensure it aligns with their specific healthcare needs and financial goals.
Investors should watch for the premium rates and the waiting period details, as these can vary based on the insured's age and health profile. Comparing this plan with other health insurance options is also advisable to determine if it offers adequate coverage. Understanding the exclusions and claim settlement process will also be crucial for making an informed decision.
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Key takeaways
- Concerns Life Insurance Corporation Of India (LICI).
- Category: Stocks.
Why it matters
A routine update for Life Insurance Corporation Of India. Use the price and stock snapshot to gauge how the market is responding.
