About Universal Sompo Health Insurance
Universal Sompo General Insurance Company is a public-private joint venture between Allahabad Bank, Indian Overseas Bank, Karnataka Bank Ltd., Dabur Investment Corp, and Sompo Japan Nipponkoa Insurance Inc. They offer a wide range of insurance opportunities, including health insurance with comprehensive coverage. Their plans provide financial leverage against critical illnesses, accidents and are tailored to senior citizens.
Universal Sompo Medical Insurance maintains a 75.92% claim settlement ratio through reimbursement claims from non-network hospitals and cashless claims from their 4000+ network hospitals. They remain one of the most coveted insurance providers, having sold over 2.6 lakh plans to date!
The range of Universal Sompo Insurance plans cover:
- Universal Sompo Complete Healthcare Insurance
- Universal Sompo Individual Health Insurance Plan
- Universal Sompo Critical Illness Policy Health Insurance
- Universal Sompo Senior Citizen Health Insurance
- Universal Sompo Personal Accident Insurance
Let’s take a closer look at each Universal Sompo mediclaim policy.
Universal Sompo Complete Healthcare Insurance
- Entry Age: 18-70 years
- Policy Term: 1-3 years
- Sum Assured: Rs. 1-10 lakhs (Basic); Rs.3-5 lakhs(Essential); Rs.6-10 lakhs (Privilege)
- Pre and Post-Hospitalisation: 30 and 60 days, respectively.
Other benefits:
- Convalescence Benefit: Rs. 10,000 once per policy period for hospitalisation exceeding 10 days.
- No-Claim Bonus: Up to 50% of the sum insured.
- Ambulance Coverage: Up to 1% of SI or Rs. 1000 (Basic); Up to 2% of sum insured or Rs. 2000 (Essential); Up to 1% of sum insured or Rs. 3000 (Privilege)
Universal Sompo Individual Health Insurance Plan
- Entry Age: 3 months - 55 yearss
- Policy Period: 1 year
- Sum Assured: Rs.1-5 lakhs
- Pre and Post-Hospitalisation: 30 and 60 days, respectively.
Other benefits:
- Critical Illness Rider Coverage: Cancer, Chronic Renal Failure, Coronary Artery Bypass, Major Organ Transplant (pancreas, kidney, lungs, bone marrow), Paralysis, and Stroke.
- Daily Hospital Cash Benefit: 0.1% of SI or a minimum of Rs. 250 (maximum: Rs. 2500)
- Domiciliary Hospitalisation Coverage: Provided after 3 days of hospitalisation.
Universal Sompo Critical Illness Policy Health Insurance
- Entry Age: 5-65 years
- Policy Period: 1-3 years
- Sum Insured: Rs.2.5-20 lakhs
- Coverage: 11 critical illnesses
Other benefits:
- Coverage: Cancer of specified severity, Multiple sclerosis with persisting symptoms, First heart attack of specified severity, Open chest coronary artery bypass grafting, Motor neuron disease with permanent symptoms, Coma of specified severity, Major organ/bone marrow transplant, Kidney failure requiring dialysis, and Stroke resulting in permanent symptoms.
- Free-Look Period: 15 days
- Grace Period: 30 days
Universal Sompo Senior Citizen Health Insurance
- Entry Age: 60-70 years
- Policy Term: 1-3 years
- Sum Insured: Rs.1-5 lakhs
- Pre and Post-Hospitalisation: 30 and 60 days, respectively
Other benefits:
- No-Claim Bonus: A 3-15% increase in sum insured for every claim-free year.
- Family Discount: 10% discount on hospitalisation premium if the spouse is covered under this policy
- Ambulance charges covered up to 1% of Sum Insured or a maximum of Rs.1500
- Daily Hospital Cash Benefit: 0.1% of SI or Rs.250-2500
Universal Sompo Personal Accident Insurance
- Entry Age: 5 - 65 years (for a 20% additional premium, people up to 75 years can enter)
- Policy Term: 1 year
- Sum Insured: 10x annual income (Basic); 5x annual income (Wider and Comprehensive) Up to a maximum of Rs.5 lakhs
- Renewability: Lifelong.
Other benefits:
- Ambulance Coverage: Rs.1000 per hospitalisation
- Educational Benefit: Up to 5% of the sum assured or Rs.15,000 in case of death or permanent total disability.
- Loss of Employment Benefit: Up to 2% of the sum assured or Rs.25,000
The Advantages of Universal Sompo Health Insurance India
Universal Shampoo Health Insurance remains one of India's leading agencies. Due to the customisable plans with multiple rider options, they can ensure their policyholders have the highest quality coverage against any potential medical emergencies. Combining this with their cashless hospitalisation options keeps their policyholders’ lives hassle-free and easy!
- Depending on the plan you choose, Universal Shampoo General Insurance offers free health-checkups. Some plans offer these annually while others cover you after 4 consecutive claim-free years.
- The many Universal Sompo Health Insurance features cover your ambulance charges, pre- and post-hospitalisation, daycare treatments, maternity and newborn charges, domiciliary hospitalisation etc.
- Universal Sampo offers quick and hassle-free cashless hospitalisation facilities at over 4000 network hospitals across India. All you have to do is file your cashless claim, and then you can let your insurer and hospital take care of the rest!
- Universal Sompo offers portability benefits depending on the plan you choose. This ensures that you continue having the policy you want with all its customisations and features intact.
- Premiums paid to Universal Shampoo Insurance are deductible under Section 80(D) of the Income Tax Act.
How to Buy Universal Sompo Medical Insurance
You can purchase your insurance policy online or offline, depending on your convenience.
Offline Method:
- Choose a plan and go to the nearest Universal Sompo General Insurance branch.
- Fill in the insurance application form they provide.
- Submit the form for processing.
- Once your policy is registered, you will receive the necessary documents in your email ID.
- For any further queries, contact Universal Sompo directly.
Online Method:
- Go to the insurer’s website and click on the “Products” tab.
- Choose the “Health” category and browse the plans, choosing the one you want.
- Tap the “Buy” button once you are certain of the policy.
- Fill in the required details and make your payment.
- After a successful transaction, you will receive the policy documents to your registered email ID.
Universal Sompo Mediclaim Policy Claim Process
The Universal Sompo claim settlement ratio is currently 75.92%, showing the company’s commitment to its customers. It also reveals their emphasis on having the current documents for a successful claim. Universal Sompo offers cashless claims at network hospitals and reimbursement claims for non-network hospitalisation.
Cashless Claims:
- Ensure you are in a network hospital and intimate Universal Sompo within 24 hours of emergency hospitalisation. Inform them 48 hours in advance when hospitalisation is planned.
- Show the hospital your “Health Serve Card” and a valid Photo ID.
- Fill in the “Cashless Request Form” provided by the hospital.
- The hospital will send the form to Universal Sompo.
- They will review and validate your claim, either accepting or denying it.
- Upon acceptance, they will then settle all your medical bills directly with the network hospital.
- You will receive confirmation of acceptance or denial on your email ID.
Reimbursement Claims:
- Intimate Universal Sompo within 24 hours of emergency hospitalisation. Inform them 48 hours in advance when hospitalisation is planned.
- After your treatment, settle your bills with the hospital.
- Ensure that you collect all the necessary claim documents upon discharge.
- Submit these, along with the reimbursement claim form to the insurer.
- Upon verification, your claim will then be settled between you and the hospital.
Knowing all the necessary documents for a successful claim process is not easy. It often adds stress to the policyholder who is already facing a medical emergency. This is where Cover360 comes in! Our insurance experts are available at your beck and call 24/7, so we help you procure and submit all the necessary documents. This way, you get a completely smooth and easy claim procedure and you can focus on recovering peacefully!
Universal Sompo Insurance Renewal Process
- Visit cover360.in and go to our renewal page
- Enter the details asked
- You will be taken to the Universal Sompo website to complete the renewal process
- Alternatively, go directly to the Universal Sompo website and renew your policy online.
- On the website, go to the “Products” tab.
- Choose the "Health" tab, and you will be presented with a "Renew Now" option.
- Click on “Renew Now” and enter the necessary policy details.
- Click on "Renew Now" again, and you will be shown a summary of your policy.
- Confirm this and go to the payment.
- Choose your preferred mode of payment, finish paying and complete the renewal process.
- You will receive confirmation of your renewal on your registered email ID.
Contact Cover360 and let our insurance specialists ensure you get the maximum financial coverage based on your medical needs. We understand the stress of hospitalisation and help you reduce that stress by pairing you with the perfect policy that covers you and your loved ones as much as you desire!
