Universal Sompo Corona Rakshak Policy

The Universal Sompo Corona Rakshak Policy is designed to supplement health insurance coverage specific to COVID-19 infection. It is sensible to buy Universal Sompo Corona Rakshak Policy to receive a lump sum payout on a positive diagnosis of the COVID-19 infection, needing at least seventy hours of hospitalization following medical advice.

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Universal Sompo Corona Rakshak Policy

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Tax benefit is subject to changes in tax laws. Standard T&C Apply

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    Universal Sompo Corona Rakshak Policy: Key Highlights

    Type

    Individual

    Policy Tenure

    3½, 6 ½, 9 ½ (months)

    Coverage Type

    COVID Cover

    Sum Insured

    Rs 50,000 to Rs 2,50,000

    Waiting period

    15 days

    Eligibility Criteria

    The minimum eligibility criteria to buy this policy are:

    Minimum Entry Age

    18 years

    Maximum Entry Age

    65  years

    The Number of people covered:

    Self only

    Residential Status

    Indian Citizens and Residents

    Coverage Offered

    The Universal Sompo Corona Rakshak Policy Health Insurance is a benefit type policy conceived to mitigate the emergent financial distress triggered by the COVID-19 crisis within the IRDAI formulated rules and regulations. The areas of coverage will be mentioned in the Policy Schedule.

    The insured is entitled to receive 100% sum insured in a lump sum upon a Government-authorized testing center's positive diagnosis. The insured must compulsorily be hospitalized for a minimum of seventy hours following the medical advice of a qualified Medical Professional as per the norms prescribed by the Government of India's Ministry of Health and Family Welfare.

    Inclusions of the Plan

    One can buy Universal Sompo Corona Rakshak Policy Health Insurance for the other family members for the benefit only cover delivered by the policy.

    A claim for the benefit has to be notified to the Corporate Office using dedicated toll-free number or at their email address. The claim documents need to be submitted to their above-stated office for processing.

    Exclusions of the Plan

    Since the focus is the COVID-19 crisis, buy Universal Sompo Corona Rakshak Policy Health Insurance only after evaluating if it fits the applicant's specific demands. Thus, knowing what is not covered in the policy becomes essential. The Corona Virus crisis specific policy has framed guidelines for conditions under which the claim cannot be raised to hold the insurer liable to pay. The following should be carefully considered by the insured to help raise a flawless claim.

    Waiting Period

    The policy's coverage commences only after the expiry of the initial 15 days from the inception date. Claim raised for a positive COVID-19 diagnosis in this period is not considered by the insurer. The liability of the insurer during the waiting period is invoked only for accidental injury.

    Other Exclusions

    • The cover is restricted to only CoronaVirus infection and conditions incidental to it.
    • For a valid claim, the diagnostic report for positive Corona infection must have been obtained from a Government authorized testing center.
    • The diagnostic report obtained abroad is not recognized by the policy.
    • The claim becomes admissible only upon seventy-two hours of hospitalization for COVID-19 treatment on genuine medical advice.
    • Hospitalization only for evaluation and investigation is not covered in the policy.
    • The cover in the policy ceases if the insured travel abroad.

    Benefits of the Universal Sompo Corona Rakshak Policy

    The benefit only Universal Sompo Corona Rakshak Policy terminates upon the sum insured's lump sum payout fulfilling the defined conditions.

    • The customer can choose different blocks from Rs 50,000 to Rs 2.5 Lakh in multiples of Rs 50,000.
    • Policy Term: The policy is offered for short terms of three and a half months, six and a half months, and Nine and a half months.
    • The applicant can opt for Online Universal Sompo Corona Rakshak Policy at the insurer portal or the offline method using the conventional model.
    • The premium paid for the Universal Sompo Corona Rakshak Policy Health Insurance enjoys tax exemption under Section 80D of the Income Tax Act, 1961, up to specified limits.

    Cancellation of Policy

    The insurer has not specified any scope for cancellation of the policy. However, the policy terminates once the one-time benefit is paid.

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