Universal Sompo Health Insurance Renewal

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      Universal Sompo Health Insurance Renewal

      Universal Sompo Health Insurance renewal is vital to maintain continuous coverage of a Universal Sompo health insurance policy. Policyholders have the convenience of renewing their medical insurance online by paying the premium through various e-payment options. They can enjoy the policy benefits and raise a claim at the time of need if the policy is renewed on time.

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      Benefits of Renewing a Universal Sompo Health Insurance Policy Before Expiry

      Here are some of the top benefits of renewing a Universal Sompo health insurance policy before its expiry date:

      • Continuous Protection - Policyholders must renew their Universal Sompo health policies before the due date to ensure uninterrupted coverage and continuous medical protection against unforeseen medical expenses. Failing to do so may result in a coverage gap, making them ineligible to file any claims with the Universal Sompo General Insurance Company.
      • No Need for Pre-insurance Medical Check-ups – Timely renewal of a Universal Sompo Health Insurance policy enables policyholders to skip undergoing any pre-insurance medical check-ups. If they fail to renew their policy before the due date, the insurance company may ask the insured to undergo medical examinations before policy issuance.
      • Retention of No Claim Bonus (NCB) - Renewing their Universal Sompo Health Insurance policy before the due date allows policyholders to safeguard their No Claim Bonus, which is granted as a reward for not raising any claims during the previous policy term. If the policy lapses due to non-renewal, it could result in the loss of accumulated NCB.
      • Lower Premiums - Insurance companies often charge a higher premium to people who renew their policies after the due date. Thus, policyholders can avoid paying higher premiums for their Universal Sompo health policy by renewing it before its expiry date.
      • Tax Benefits - The premium paid for a Universal Sompo Health Insurance policy can be claimed for tax benefits under Sec 80D of the Income Tax Act. However, if the policy lapses due to non-renewal, policyholders lose the opportunity to avail these tax benefits.

      How to Renew a Universal Sompo Health Insurance Policy?

      Here are the steps to renew Universal Sompo health insurance online:

      Step 1: Go to the website of Policybazaar Insurance Broker Private Limited

      Step 2: Locate the 'Renew Your Policy' option at the top of the page and click on 'Health Renewal.'

      Step 3: Enter your mobile number and the One-Time Password (OTP) received on your phone to authenticate your account.

      Step 4: Provide the necessary details and pay the premium for your Universal Sompo Health Insurance renewal policy.

      Step 5: If you are a new user of Policybazaar.com, click on the 'Health Insurance' icon on the homepage.

      Step 6: Select your gender, enter your name, and provide the age of the people to be insured

      Step 7: Enter your city of residence or the pin code, and provide your phone number.

      Step 8: Provide your medical history details.

      Step 9: Select the Universal Sompo Health Insurance policy you wish to renew and complete the premium payment online.

      Upon receiving the premium payment, the Universal Sompo General Insurance Company will renew your policy.

      Universal Sompo Health Insurance Renewal Grace Period

      All Universal Sompo Health Insurance plans come with a grace period, which refers to the additional time provided to policyholders after the policy due date to pay the renewal premium. Policyholders can avoid their Universal Sompo Health Insurance policy from lapsing by paying the renewal premium within the provided grace period.

      The grace period for various Universal Sompo Health plans may vary from one insurance plan to another. However, most Universal Sompo Health Insurance plans offer a renewal grace period of 30 days.

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      Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

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