United India Insurance
Since its inception on 18th February 1938, United India Insurance Company Limited has been offering a wide array of insurance products to cater to the insurance needs of different segments of society. After the nationalisation of the general insurance business in India, 12 Indian insurance companies, 4 cooperative insurance societies and Indian operations of 5 foreign insurance companies, besides General Insurance operations of the Southern region of LIC were merged with United India Insurance Company. Post nationalisation, United India has recorded a massive growth both in terms of revenue and expansion. Currently, it has more than 18,300 employees, spread across 1340 offices, providing insurance products to more than 1 crore policyholders. It is the only company which has infused so much diversification in its product portfolio. At present, it is offering a variety of insurance products to cover products from bio-gas, floriculture to satellites.
United India has been at the forefront in formulating comprehensive covers for large clients like ONGC Ltd., GMR-Hyderabad International Airport Ltd., Mumbai International Airport Ltd., etc. The company has also played an imperative role in popularising insurance in rural areas. It has played a significant role in taking insurance to rural masses with the implementation of Universal Health Insurance Programme of Indian Government and Vijaya Raji Janani Kalyan Yojana (covering 45 lakhs women in Madhya Pradesh), Tsunami Jan Bima Yojana (in 4 states covering 4.59 lakh families), National Livestock Insurance and many such schemes.
United India Insurance Company Product Portfolio
United India Insurance Health Plans:
United India Insurance Company plans guarantee peace of mind for the insured / family against financial perils and inadequacies due to sudden ill health and hospitalisation. They have a plethora of health insurance plans that cater to individual, family and senior citizens.
- Health Insurance Policy – Family Medicare: Family Medicare policy covers all the members of the family under a single sum insured. Family to be covered can comprise of the insured, spouse and dependent children. The age of the proposer should be between 18 and 80 years.
- Health Insurance Policy – Family Medicare 2014: The policy covers all the members of the family under a single sum insured. For the purpose of coverage, the family comprises of the insured, spouse and dependent children.
- Health Insurance Policy-Gold: The sum insured under Gold policy is between Rs. 1 lakh and Rs. 5 lakh in multiples of Rs. 50000. The policy covers hospitalisation expenses incurred in India for treatment of illness, disease, and injury sustained or contracted by the insured during the policy period. It also covers certain day care procedures.
- Individual Mediclaim Plan: The plan covers the insured against any disease contracted or injuries or illnesses suffered during the policy period that requires hospitalisation or medical/surgical treatment. United India Insurance pays through the TPA to the hospital/nursing home or the insured person, the amount of such expenses not exceeding the sum insured in aggregate in any one period of insurance.
- Health Insurance Policy-Platinum: The sum insured is between Rs. 1 lakh and Rs. 10 lakh in multiples of Rs. 50000. Platinum policy covers hospitalisation expenses incurred in India for treatment of illness, disease, or injury sustained or contracted by during the policy period. It also covers certain day care procedures.
- Senior Citizen Health Insurance Policy: This plan is specially designed for citizens between the ages of 61 years and 80 years. An insured beyond 80 years will continue to be covered under the Senior Citizens policy provided the policy has been renewed without any break. The sum insured is between Rs. 1 lakh and Rs. 3 lakh in multiples of Rs. 50000.
- Super Top Up Medicare Policy: The policy is available both on individual and floater basis. Various options with different sum insured and threshold levels are available.
- Top Up Medicare Policy: The policy covers hospitalisation expenses incurred in India in respect of any covered hospitalisation during the policy period and which exceeds the threshold level or any amount reimbursed or reimbursable under any health insurance policy/reimbursement scheme, whichever is higher, up to the sum insured stated in the policy. The policy is available on both individual and floater basis.
- UNI Criticare Health Plan: The policy has various sum insured options – Rs. 1/3/5/10 lakh. It has a waiting period of 90 days from the date of inception of policy and a survival period of 30 days from date of diagnosis.
- Workmen Medicare Policy: The policy covers hospitalisation expenses incurred on account of an accident to the workmen, during and in the course of employment.
Car insurance plans from United India Insurance Company offer good benefits to the buyer. You must compare plans from various companies before making a final choice. Save money and get the best deal!
- Two Wheeler Package Policy: A comprehensive policy that covers against third party liability, damage to the vehicle and also provides personal accident cover. The insured is indemnified against loss or damage to the vehicle insured. The policy covers motorcycles, scooters, auto cycles or any other motorised two wheeled vehicles detailed under the policy.
- Private Car Package Policy: The comprehensive policy protects against loss to the car from damages, provides personal accident cover to the owner-driver and to the occupants, and insures against any third party liability. The package policy also protects against man-made and natural events.
United India Insurance Company Policies are providing you with travel insurance on your holidays, business trips or visits to friends & family abroad.
- OMP for Business and Holiday: The policy covers expenses incurred towards medical treatment for accident/disease sustained during overseas trips on business and holiday. It also includes loss of important papers such as the passport.
- OMP Employment and Studies: The policy covers expenses incurred towards medical treatment for accident sustained or diseases incurred during overseas trips for employment or higher studies. The insured age bracket is between 5 and 60 years.
- OMP for Corporate Frequent Traveller: The policy covers expenses incurred towards medical treatment for accident/disease sustained during overseas trips by corporate frequent travellers.
- Baggage Policy: The Baggage Insurance Policy covers all accompanied baggage like suitcases, trunks, etc. during a journey. The policy provides a cover against loss or damage to accompanied personal baggage due to fire, riot, strike, terrorist activity, theft or accidents during the course of a journey. It also covers any stoppages en route anywhere in India.
- Suhana Safar Policy: The policy covers the risk of personal accident and loss of baggage of the insured, spouse and dependent children covered. The loss must occur during the period of outstation travel within India from the declared place of departure and includes places of sojourn.
- Marga Bandhu Policy: This policy covers groups of individuals on a study tour, educational trip or pilgrimage. Educational institutions, tour operators, travel agents, clubs, associations, etc. who arrange tours, picnics, yatras, etc. can avail this cover for persons going on the tour.
United India Insurance House Insurance Policies
House insurance plans cover loss to the structure and/or belongings inside the house
- House Holder Policy: The policy covers loss or damage to the building and its contents including jewellery, baggage and valuables, domestic appliances like TV, VCR, Audio Systems, PCs, etc., They also cover accidental injury that result in disability or death, and liabilities to third parties.
Accidents can happen with anyone at anytime. In a matter of seconds, it may take away your hard earned money because aftermaths of accidents can be adverse. In such a situation, don’t stretch your savings and get your life back on the track with personal accident policy. This type of policy offers vast coverage to protect families from financial instability.
- Personal Accident Policy: The policy covers physical loss to an individual due to an accidental injury including fatal injuries. Any individual or group of individuals, through employer association or institution, and aged between 5 and 70 years can be insured under the policy.
- Mediclaim Policy: Expenses incurred by the insured for hospitalisation for illness/diseases or injury sustained are covered. Domiciliary hospitalisation benefit is also payable under the policy.
- Road Safety Package Policy: The policy insures against unforeseen events that result in partial or total dismemberment or, even, death. Dismemberment under the plan includes total loss of two limbs or two eyes, total loss of one limb and one eye, total loss of one limb or one eye, besides any other permanent total and partial disablement that was the direct result of an accident during the policy period.
- Unimedicare Policy: The policy covers reimbursement of hospitalisation expenses because of illness/disease or injury sustained. The insurance scheme also provides for family discount in premium, cumulative bonus and cost of health check-up.
United India Insurance Business Plans:
- Shop Keepers Policy
- Burglary Policy
- Jewellers Block Policy
- Money In Transit Policy
- Compact Policy
- Dukan Mithra Policy
United India Insurance Liability Insurance Plans:
- Motor Liability Policy
- Product Liability Policy
- Professional Indemnity Policy
- Public Liability Policy
- Workmen Compensation Insurance
United India Insurance Micro Insurance Plans
- Animal Driven Cart Insurance Scheme
- Bio-Gas Plant Insurance
- Dairy Package Policy
- Farmers Package Policy
- Floriculture Insurance
- Honey Bee Insurance
- Hut Insurance
- Kissan Credit Card
- Raja Rajeshwari Mahila Kalyan Yogana
- Rural Accident Policy
United India Insurance Rural Plans:
- Cattle and Livestock Policy
- Agricultural Pumpset Policy
- Poultry Insurance Policy
- Gramin Accident Policy
- Plantation Insurance
- Animal Driver Cart/Tonga Policy
United India Insurance Social Policies:
- Janatha Personal Accident Policy
- Bhagyashree Policy
- Raja Rajeshwari Policy
- Mother Teresa Women & Children Policy
- Jan Arogya Bima Policy
United India Insurance Fire Insurance Plans:
- Fire Loss of Profit Policy
- Standard Fire and Special Perils Policy
United India Insurance Marine Insurance Plans:
- Marine Hull
- Marine Cargo
United India Insurance Industrial Insurance Plans:
- Boiler and Pressure Plant Policy
- Contractors Plant and Machinery Policy
- Deterioration of Stock
- Electronic Equipment Policy
- Industrial All Risk Policy
- Machinery Breakdown Policy
United India Insurance Credit Insurance Plans:
United India Insurance Other Policies:
- All Risk Policy
- Baggage Policy
- Bankers Indemnity Policy
- Compact Policy
- Directors or Officers Policy
- Fidelity Guarantee Policy
- Film Production Policy
- Gun Insurance Policy
- Lift Insurance Policy
- Marga Bhandu Policy
- Money Insurance Policy
- Plate Glass Insurance Policy
- Shop Keepers Policy
- Students Safety Insurance Policy
- TV Insurance Policy
- Uni Study Care Insurance Policy
It is advisable to compare all United India Insurance Company General insurance plans with plans from other general insurance companies in India to choose the best insurance plan that suits you the most.
United India Insurance Company Distribution Network:
United India Insurance Company has grown tremendously and currently has a workforce of 18,300 employees and operates across the country through 1340 offices. It is supported by more than 1 crore policyholders and has products that provide insurance cover to small farmers and individuals as well as to large corporations such as the ONGC Ltd., GMR- Hyderabad International Airport Ltd. and Mumbai International Airport Ltd.
United India Insurance Company - Latest News
Ariful Hoda has been appointed as Officiating CMD of the United India Insurance and will be reporting in this post from 8th June, 2016. Hoda has been selected to replace Milind Kharat, who recently retired from the post of Chairman-cum-MD of United India Insurance Company on 31st May, 2016.
As disclosed in a company release, Ariful is a graduate in Economics and a reputed member of Insurance Institute of India. He started his profession as DRO or Direct Recruit Officer in the batch of 1980, in the National Insurance Company. He has been employed in a variety of roles in different parts of the country, including the North East India region.
He started working with United India Insurance as a DGM r Deputy General Manager in the month of August in 2008. Till the year 2008 he had served National Insurance Company for complete 30 years and was the promoted to the post of a General Manager by the year 2012. Ariful Hoda is also a member of the council of the Insurance Institute of India. Additionally, he is a Director with the Agricultural Insurance Company Limited in Delhi.
United India Insurance recently reported a 26.3 percent downfall in its net profit in FY’16, which is calculated to be Rs. 221 Crore when compared to the profit earned by the company during the same period last year. Reportedly, the company did not earn much in the premium while has paid out more in its expenses.
The growth rate of the company stood at 14.58 percent, which in the last year was reported to be 10.12 percent, with a growth of Rs. 12, 250 Crore in its gross premium. This could be due to 10.4 percent increase in management expenses to 2,924 Crore.
The general insurance company has been proactively engaged in schemes across the social sector. It has enrolled over 2.28 Crore customers under Pradhan Mantri Suraksha Bima Yojna with about 1,180 Crore claim successfully settled. Over 6 Lakhs pensioners have signed up for pensioner’s health insurance scheme.
United India Insurance, one of the leading government-owned insurance providers in India, has been picked as one of the insurance companies to get listed on the stock exchange. This was mentioned by Finance Minister Mr. Arun Jaitley in his Union Budget 2016-2017 speech.
This follows a general trend by the Indian government to increase private-sector participation in the country’s insurance sector. An example of this is the recent move by the government to allow up to 49% foreign partner investment in India’s private sector insurance joint ventures.
United India Insurance is among India’s leading nationalized general insurance providers with products such as Family Medicare, Health Insurance Policy, Senior Citizens Health Insurance Policy as well as a range of travel, car, group and personal accident insurance plans. This government owned insurer boasts 18,300 strong workforce and policyholders that exceed 1 Crore in number.
United India Insurance Company, the holding company for United India General Insurance and United India Life Insurance, has been blacklisted in Kerala. The decision was announced by the District Collector-headed District Grievance Redressal Committee in Thiruvananthapuram as United India Insurance was not providing proper service to its clients in the district.
Prior to this decision being taken, the insurance company had repeatedly delayed claims as part of various RSBY/CHIS programs implemented by the Redressal Committee. As per the decision, the district collector, Biju Prabhakar, has commented that he in his capacity has chairman has ordered blacklisting of United India Insurance Company with the backing of other members of the Redressal Committee.
The company would be in the blacklist as long as it continues to deny the claims and does not pay up on the claims ordered by RSBY/CHIS plans ordered by the District Grievance Redressal Committee.
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