Universal Sompo Loan Secure Insurance Policy

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      Universal Sompo Loan Secure Insurance Policy

      In a loan secure insurance plan like Universal Sompo Loan Secure Insurance Policy compensates the insured financially on detecting a critical illness, loss of a job, unfortunate death or in case of total/partial permanent disability due to an accident. Universal Sompo Loan Secure Insurance Policy covers the above mentioned so that the insured or their nominees can pay back the loan without any trouble.

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      Universal Sompo Loan Secure Insurance Policy: Key Highlights



      Sum Insure

      Up to Rs 1 cr.

      Renewal Age

      Till 55 years


      3 years

      Illness Covered

      18 major illnesses

      Eligibility Conditions

      The minimum eligibility conditions to buy this policy are:

      Minimum Entry Age

      20  years

      Maximum Entry Age

      65 years

      Number of people covered

      This policy covers various members/SMEs/partnerships, and there is no such limit mentioned by the policy. Each member will be considered a different policyholder.

      The person should have a loan with a bank.

      Residential Status

      Permanent residents of India or Indian citizens

      Coverage Offered

      Universal Sompo Loan Secure Health Insurance Policy provides coverage under four different plan variants, which offer a range of benefits depending on the chosen type. They are mentioned below:

      Silver Plan

      The Silver Plan covers these:

      In this category, the first time procedure or first medical events are covered

      • Cancer with severity specified
      • Coronary Artery Bypass Graft
      • Kidney Failure with regular dialysis
      • First Heart Attack (Myocardial Infarction) with severity specified as per policy document
      • Major Organ or Bone Marrow Transplant
      • Multiple Sclerosis with prolonged symptoms
      • Open Heart Replacement Or Repair Of Heart Valves
      • CABG
      • Permanent LimbParalysis
      • Permanent damage due toStroke.

      Gold Plan

      The Gold Plan covers the following-

      First time procedure or first medical events, or surgeries for the following are covered:

      • All conditions forthe Silver Plan
      • Brain Tumor of Benign nature
      • Coma ( Severity specified)
      • Parkinson’s Disease

      Platinum Plan

      The Platinum Plan covers the following-

      First time procedures/ medical events/surgeries, for the following are covered:

      • All conditions of the Gold Plan and Silver Plan
      • Alzheimer ‘s Disease
      • Last-Stage Liver Failure
      • Surgery of Aorta

      Diamond Plan

      Under the Diamond Plan, the following are included:

      In this category, first time procedures or surgeries for the following ailments are covered:

      • All conditions under Silver, Gold, and Platinum Plan
      • Deafness
      • SpeechLoss
      • Third Degree Burns

      Inclusions of the Policy

      The Universal Sompo Loan Secure Insurance Policy provides coverage against accidents. If the policyholder dies due to any kind of accident or gets injured, resulting in disablement, then the Universal Sompo Health Insurance pays the sum insured. Below are the conditions in which the insurer is liable to pay the sum insured amount to the person insured.

      • Accidental Death of the policyholder
      • In case of confirmed permanent total disablement for 12 consecutive due to which the policyholder is unable to work
      • In case of loss of two hands or feet, a single hand &single foot, such that the policyholder becomes unemployable

      Exclusions of the Policy

      There is a list of various exclusions under several sections of the Universal Sompo Loan Secure Insurance Policy. Some of them are:

      • No coverage for pre-existing illnesses
      • Any illness or accident in the first 90 days of policy procurement
      • Any treatment performed by a non-registered practitioner
      • Any treatment related to congenital disabilities
      • Birth Control and HRT are not covered
      • Self-medication by the policyholder
      • Non-submission of medical proofs by the policyholder
      • Others as per policy documents

      Features & Benefits of the Universal Sompo Loan Secure Health Insurance Policy

      The policy features and benefits can be categorized into the following:

      • The Universal Sompo Loan Secure Health Insurance Policy has two sum insured options available in this plan: Fixed Sum insured and Reducing Sum Insured option.
      • The plan also covers the job loss. It pays 3 monthly installments corresponding to the loan insured, in case of unemployment due to accidental death or disability.
      • Ambulance charges for any admissible claim are provided up to Rs 1000 per policy period.
      • On detection of critical illness and accidental death/hospitalization, the insurer pays for
      • The outstanding loan amount is paid in case of reducing sum insured option.
      • The outstanding loan amount plus pays the sum insured to the policyholder or the nominee (as applicable) in the fixed sum insured amount.

      Information on Cancellation of the Policy

      If the policyholder finds the terms and conditions of the policy to be unsatisfactory, he/she can return the policy at no extra cost to the insurer within 15 days from the policy's starting date, provided no claim is paid.

      The insurer will return all the premiums paid after deduction of taxes and stamp duty charges. Thus, the Universal Sompo Loan Secure Insurance Policy can be returned.


      Policybazaar exclusive benefits
      • 30 minutes claim support*(In 120+ cities)
      • Relationship manager For every customer
      • 24*7 claims assistance In 30 mins. guaranteed*
      • Instant policy issuance No medical tests*
      Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

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      *We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881. Product information is authentic and solely based on the information received from the Insurer. Policybazaar is acting only as a facilitator and claims settlement shall be at the sole discretion of the Insurer. As per the Insurance guidelines, you are allowed to cancel the policy with-in 15 days from the date of Issuance of policy. For more details, please read the Plan Brochure carefully or talk to our advisor at the time of purchase.

      *All the health insurance plans cover hospitalization expenses including COVID-19 treatment cover up to the specified limits. You can also buy specific COVID-19 health insurance policies such as Corona Kavach Policy and Corona Rakshak policy.

      **All savings and online discounts are provided by insurers as per IRDAI approved insurance plans. #Tax Benefits are subject to changes in tax laws. GST Exemptions depend on fulfilment of qualification criteria and submission of relevant documents.

      *₹1748/month is the starting price for a 1 crore health insurance for an 18-year-old male, with no pre-existing diseases. Discount on renewal premium is subject to the number of wellness points earned in the health insurance policy. For more details about the plans, please read the sale brochure carefully to get upto 100% discount on renewal premium.

      *₹400/month is the starting price for ₹ 5 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹541/month is the starting price for ₹ 10 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹762/month is the starting price for ₹ 1 Crore Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹243/month(₹ 8/day) is the starting price for a 5 lakh health insurance for a 20-year-old male, non-smoker, living in Bengaluru with no pre-existing diseases

      *₹2020/month is the starting price for ₹ 1 Cr Health insurance for a 50 year old male & 50 years old female, living in Bangalore with no pre-existing diseases rounded off to nearest 10.

      *₹390/month (₹13 per day) is starting price for 1 cr. Health insurance for 25 years old male, with pre-existing diseases, residing from tier 1 city rounded off to the nearest 10.

      *No medical tests are required unless requested by the insurer’s underwriter. In-case of pre-existing diseases relevant medical proof would be required as per the terms and condition of the policy opted.

      *The values taken for effective cost calculation are indicative values and may change as per the selected plan.

      *Coverage upto double the amount of Sum Insured is available on certain covers for a minimum plan of Rs. 5 Lakh on the first claim only to an individual of upto 45 years of age with no pre-existing diseases. The benefit is available with or without extra cost depending on the plan chosen.

      *Coverage of pre-existing diseases is provided by insurer as per their underwriting policy.

      *The scope of coverage may vary from plan to plan.

      ~Source: Google Review Rating available on:- http://bit.ly/3J20bXZ

      ##On ground claim assistance is available in 114 cities

      Tax Benefits are subject to changes in tax laws. GST Exemption depends on fulfilment of qualification criteria and submission of relevant documents as required by the insurers. For more details on risk factors, terms and conditions, please read the sales brochure and applicable rules and regulation carefully before concluding a sale.

      STANDARD TERMS AND CONDITIONS APPLY. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.

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