Universal Sompo Critical Illness Insurance Policy

(22 Reviews)
Insurer Highlights

*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 Critical Illness Insurance Policy

      Universal Sompo Critical Illness Insurance Policy is a critical illness plan, which covers life-threatening diseases and provides financial security to the policyholder's family. Under this plan, a lump sum benefit is offered on the detection of the illness. Cancer, Coma, Kidney Failure, Paralysis etc. are covered under this policy.

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      Universal Sompo Critical Illness Insurance Policy: Key Highlights

      Type

      Individual/Family Floater

      Sum Insured

      Rs 2.5 lakh- 20 lakh

      Tenure

      1 to 3 years

      Savings

      10% on 2 years policy

      15% on 3 years policy

      Free-look Period

      15 days

      *All savings offered are as per the IRDAIs approval. Standard T&C apply 

      Coverage Offered

      The coverage offered by the Universal Sompo Critical Illness Health Insurance Policy is available for the following critical illnesses up to the sum insured:

      • Coma of Specified Severity
      • First Heart Attack of specified severity
      • Kidney Failure with regular Dialysis
      • Cancer of specified severity
      • Bone Marrow or Major Organ Transplant
      • Multiple Sclerosis with continuous symptoms
      • Motor Neuron Disease (Permanent Symptoms)
      • Open Chest CABG
      • Open Heart Replacement
      • Permanent Limbs' Paralysis
      • Permanent Stroke

      Inclusions of the Policy

      The inclusions of Universal Sompo Critical Illness are:

      • The policy offers lump sum benefits in case the insured suffers any of the listed critical illness.
      • The policy offers an extensive range of sum insured options from Rs 2.5 lakh to 20 lakh. The policy covers 11 critical illness and surgical procedures.

      Exclusions of the Policy

      Anyone intending to buy Universal Sompo Critical Illness Insurance Policy needs to be aware of the exclusions of this plan:

      • Any other critical illness apart from any disease written in the policy document
      • Any non-medical or medical charges which are in any way related to accidental hospitalization
      • Any cosmetic or aesthetic treatments are not covered.
      • Any treatment for weight loss or weight control treatment
      • Charges in any way related to general debility, convalescence, rest cure, and others
      • Any suicide attempt or intentional self-injury
      • For any hospitalization related to invasion, war, or nuclear activities
      • For any illness or disease detected to drugs or alcohol
      • Treatment-related to sexually transmitted diseases or venereal infections
      • Claims for emotional distress or mental insanity
      • Involvement in criminal activities which results in illness or injury
      • Any congenital anomalies and any related complications
      • Treatment for of the policyholder through an unproven treatment or experiments
      • Expenses of non-allopathic treatment

      Benefits of the Universal Sompo Critical Illness Policy

      The features and benefits of Universal Sompo Critical Illness Health Insurance Policy are as follows:

      • Premium Frequency: The policyholder can pay this premium amount monthly, half-yearly, quarterly, and yearly. The premium can vary according to the age of the policyholder, and the sum insured.
      • Medical Test: Medical test is necessary for policyholders above 55 years of age. Further, depending on the sum assured amount, the applicant may be asked to conduct different tests.
      • Grace Period: The policy offers a grace period of 30 days after the policy's due date within which the person insured can renew the policy to prevent the policy from lapsing. No extra charges will be charged to renew the policy in the grace period.
      • Tax Benefit: Policyholders can avail of a premium under Section 80D of the Income Tax Act on the premiums paid.
      • Pre-existing Illnesses: This plan covers pre-existing diseases after a 48 month waiting period.
      • Survival Period: After the first diagnosis of critical illness, the person insured must survive for 30 days to get the lump sum amount from Universal Sompo Health Insurance.
      • Premium loading: There is an option of premium loading if the policyholder can bear occupational risks. A loading of 15% for medium risks and 20% is applicable for high occupational risks.
      • Increase in sum insured: The policyholder can increase the sum insured after getting approval from Universal Sompo Health Insurance.

      Eligibility Criteria

      To buy this policy, one has to fulfill the following eligibility criteria:

      Minimum Entry Age

      Child: 5 years

      Adult: 18  years

      Maximum Entry Age

      65 years

      Number of People Covered

      Self, spouse, dependent children up to 25 years of age, in-laws, siblings, and parents up to 65 years of age

      Residential Status

      Indian residents who can be Indian citizens or Permanent Residents of India

      Information on Cancellation of the Policy

      If the person insured, after purchasing the policy, is not satisfied with the conditions and terms of the policy, then he/she can return the policy. The policy can be returned within 15 days from the commencement date of the policy. However, the premiums will be returned if no claim is made and after the deduction of stamp charges and taxes. 

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