Universal Sompo Swarna Gramin Bima Yojana (Individual) Insurance
Universal Sompo Swarna Gramin Bima Yojana (Individual) Insurance Overview
Universal Sompo’s Swarna Gramin Bima Yojana (Individual) offers full protection against any illness, accidents and critical illnesses. Gramin (Village Dweller) can benefit from this policy by covering himself, his family, organizations such as NGOs and Financial Institutions with rural clientele to have monetary support in times of distress.
Key Features of Universal Sompo Swarna Gramin Bima Yojana (Individual) Insurance
- No pre-acceptance medical tests up to 45 years of age, however, if you are above 45 years, then, you may require to undergo medical tests ( BP, Fasting Sugar, ECG) at our listed diagnostic centers, 50% cost of which will be borne by us in case of accepted proposals.
- The policy consists of 3 sections:
- Section A- Personal Accident
- Section B- Critical Illness
- Section C- Hospital Cash
Benefits of Universal Sompo Swarna Gramin Bima Yojana (Individual) Insurance
Benefit under section A
|Sr. No.||Benefits||Payable Amount|
|Benefit 1||Death of the Insured or his/ her family members upon accident||100% of Sum Insured|
|Benefit 2||Permanent Total Disablement of the Insured or his/her family members resulting from Accident||125% of Sum Insured|
|Benefit 3||Permanent Partial Disablement of the Insured or his/ her family members resulting from Accident||Depending on % of disablement|
Section 2- Critical Illness
Here is a list of Critical Illnesses and Surgical Procedures that shall be covered up to the Capital Insured:
|Option 1||Option 2||Option 3|
|Cancer of specified severity||Option 1 +||Option 2+|
|First Heart Attack of specified severity||Kidney Failure requiring regular dialysis||Major Organ /Bone Marrow Transplant|
|Open Chest CABG||Stroke resulting in permanent symptoms||Motor Neurone Disease with Permanent Symptoms|
|Open Heart Replacement||Permanent Paralysis of Limb|
|Coma of Specified Severity||Multiple Sclerosis with persisting symptoms|
Section C- Hospital Cash
This column shows you the options you have as paid amount upon hospitalization, subject to your minimum hospital stay of 2 days.
|Maximum Amount||Option 1||Option 2||Option 3|
|Rs 250/ - per day||Rs 500/- per day||Rs 1000/- per day|
|Rs 45000/-||Rs 9,0000/-||Rs 1,80,000/-|
Double Benefit: The amount as chosen by you from the above options shall be doubled when you/ your family member is admitted in an ICU. Such double benefit shall be available under the Policy for a maximum of 7 days.
Premium details of Universal Sompo Swarna Gramin Bima Yojana (Individual) Insurance
1. Basic Premium Rate for Personal Accident
|Age Band||SUM INSURED|
2. Basic Premium Rate For Critical Illness
3. Basic Premium for Section - Hospital Cash ( for 30 days)
|Age Band||250 per day||500 per day||1000 per day|
|36- 45 Yrs||209||417||834|
|45- 55 Yrs||225||450||900|
|56- 65 Yrs||263||525||1050|
*The above rates may change. Please check the policy wordings for more details.
Long Term Policy: The Policy can be taken for a period of two/ three years and discount as under would be provided
|Duration of policy||Premium to be charged|
|2 years||2 year premium in advance less 10% discount|
|3 years||3 year premium in advance less 15% discount|
Family discount: Family discount as under would be provided when you to cover your family members under the policy.
|Number of Family Members||Discount|
|Self + Spouse||5%|
|Self + Spouse + 1 Child||7.5%|
|Self + Spouse + 2 Children||10%|
Maximum discount inclusive of all the discounting factors shall not exceed more than 40%.
Tax Benefit: Avail of tax benefit under section 80D of Income Tax Act on the premium applicable for Critical Illnesses & Surgical Procedures cover.
Policy Details of Universal Sompo Swarna Gramin Bima Yojana (Individual) Insurance
Free look period: In case you are not happy with the policy terms and conditions, you have the option of cancelling the policy within 15 days of receipt of the policy documents, provided there has been no claim.
Sum Insured enhancement- The Sum Insured under the Policy can only be enhanced on renewal subject to approval from underwriter.
Renewal- Your Policy shall ordinarily be renewable for lifetime except on grounds of fraud, moral hazard or misrepresentation or non‐cooperation by you/ any of the Insured Persons.
How to cancel Universal Sompo Swarna Gramin Bima Yojana (Individual) Insurance?
By You: You may terminate this Policy at any time by giving us written notice, and the Policy shall terminate when such written notice is received. If no claim has been made under the Policy, then we will refund premium in accordance with the table below:
|Cover Period||Within 1 month||From 1 month to 3 months||From 3 months to 6 months||From 6 months to 1 year||During 2nd Year||During #rd Year|
By Us: We may at any time terminate this Policy on grounds of misrepresentation, fraud, non-disclosure of material facts or non-cooperation by you or any Insured Person or anyone acting on your behalf or on behalf of an Insured Person upon 30 days notice by sending an endorsement to your address shown in the Schedule without refund of premium.
Documents Required for Universal Sompo Swarna Gramin Bima Yojana (Individual) Insurance
In case of Death
- Policy Copy
- Post Mortem Report (certified copies) - as applicable
- F.I.R. or Death report or Inquest Panchnama (in original or certified copies)
- Spot Panchnama (certified copies)- if applicable
- Death certificate (in original or certified copy)
In case of Permanent Total Disablement/Permanent Partial Disablement
- Policy Copy
- Disability certificate - Authorized Medical Practitioner of the district/ units concerned, (certificate) stating percentage of disablement
- F.I.R. and Panchnama wherever applicable (original or certified copies)
- Medical report
- Investigation reports like laboratory test, X-rays and reports essential of confirmation of the type and percentage of disability
- Original medical bills
In case of Critical Illnesses and Surgical Procedures
- Original Bills or their copies (including but not limited to pharmacy purchase bill, consultation bill, diagnostic bill and any attachments thereto like receipts or prescriptions in support of any amount claimed)
- All reports, including but not limited to all medical reports, case histories, investigation reports, treatment papers, discharge summaries.
- A precise diagnosis of the treatment for which a claim is made.
- A detailed list of the individual medical services and treatments provided and a unit price for each.
In case of Hospital Cash
- Photo copy of bills, receipt and discharge certificate/card from the Hospital.
- Photocopy of F.I.R. copy in case of an accident.
- Complete set of Hospital/medical records
Eligibility Criteria For Universal Sompo Swarna Gramin Bima Yojana for Individual
- Entry age for the proposer is 18 years and he can opt for this policy up to the age of 65 years.
- Entry age for dependent children is 6 months.
- Maximum of 2 Adults and 2 Dependent Children (up to 25 years of age) can be covered under the Policy.
- Apollo Munich Health Insurance
- Bajaj Allianz Health Insurance
- Bharti AXA Health Insurance
- Cholamandalam Health Insurance
- Cigna TTK Health Insurance
- Future Generali Health Insurance
- HDFC Ergo Health Insurance
- IFFCO Tokio Health Insurance
- Liberty Health Insurance
- LIC Jeevan Arogya Plan(Health Insurance)
- Max Bupa Health Insurance
- National Health Insurance
- New India Health Insurance
- Oriental Health Insurance
- Raheja QBE Health Insurance
- Reliance Health Insurance
- Religare Health Insurance
- Royal Sundaram Health Insurance
- SBI Health Insurance
- Star Health Insurance
- Tata AIG Health Insurance
- United India Health Insurance
- Universal Sompo Health Insurance
- All You Need to Know About Health Insurance in India
- 10 Tips to Find the Best Health Insurer
- Things to Know About ‘Recharge’ Feature of Religare Health Insurance
- Health Insurance & Tax Benefits: 7 Things to Consider
- Want to Make the Most of Health Top-up Plan? Here are 5 Tips that will Help
- Everything You Need to Know about HDFC ERGO Health Insurance Policy