Universal Sompo Health Insurance Plans

Company Overview

Universal Sompo General Insurance Company received the license and certificate of registration from insurance regulator IRDAI in the year 2007. It is a joint venture of Karnataka Bank, Indian Overseas Bank, Allahabad Bank, Dabur Investments, and Sompo Japan Insurance. Universal Sompo will bank on the vast distribution reach and customer base of the Joint Venture partners for delivering customized non-life insurance solutions. The company aims to provide fair and timely settlement of claims in a customer-friendly and transparent manner.

The performance of Universal Sompo is quite good and in recent years Universal Sompo did excellent job in terms of serving insurance and settling claims too. The Claim Settlement Ratio is 93% of the company for the year 2019-20.

FY	ICR%	CSR%
2015-16	70.80%	NA
2016-17	70.91%	NA
2017-18	56.30%	NA
2018-19	70%	70%
2019-20	73.41%	93%

Snapshot Of Universal Sompo Health Insurance Plans

Plan Name	Plan Type	Min/Max Age	Min/Max SI	Availability	Plan Tenure
Complete HealthCare Insurance	Individual/Family Floater	Adult: 18 years– 70 years Child: 1 day – 70 years	Min SI: 1 Lakh Max SI: 10 Lakh	Online/offline	Min: 1 year Max: 3 years
Individual Health Insurance Policy	Individual/Family Floater	Adult: Up to 55 years Child:	Min SI: Max SI: 5 Lakh	Offline	Min: 1 year Max:
Hospital Cash Insurance	Individual/Family Floater	Adult: 18 years– 70 years Child: 6 months – 25 years	Min SI: 500 Max SI: 3000	Offline	Min: 1 year Max: 3 years
Aapat Suraksha Bima Policy	Group Policy	Adult: 65 Years Child: 18 Years	Min SI: 25,000 Max SI: 2 Lakh	Offline	Min: 1 years Max:
Saral Suraksha Bima Policy	Individual/Group	Adult: 65 years Child: 18 years	Min SI: 2.5 Lakh Max SI: 15 Crore	Offline	Min: Max:
Corona Rakshak Policy	Individual Policy	Adult: 65 years Child: 18 years	Min SI: 50,000 Max SI: 2.5 Lakh	Online	Min: 3½ months Max: 9 ½ months

Reasons for buying Universal Sompo Health Insurance Plans

Having medical treatment could burn a hole in your pocket and in order to ensure that your family’s healthcare needs are properly taken care of, it is imperative to get the right health insurance. Universal Sompo General Insurance offers a wide assortment of health insurance plans to suit the healthcare needs of you & your family.

You never want whatever you earn in your whole life is goes to waste, look, getting the best medical treatment is not a bad option but when you have services like health insurance around you then why would you spend any penny for getting the best medical treatment. In this rapid world, medical treatment is one of those services that are too expensive, and getting the best medical treatment is not everyone's cup of tea until he insured himself. In such a situation, insurance is the best option for everyone and in recent years Universal Sompo did some of the best job. The upper listed table will define the performance of Universal Sompo.

Main USP’s of Universal Sompo Health Insurance Plans are:

Cashless Treatment at over 5000 network hospitals
Lifetime Renewability
Multiple plan options
Maternity and Child care Benefits available
Medical expenses covered for HIV/ AIDS
Daily cash benefit during hospitalization
Premium discounts upon buying policy for 2/3 years
No pre-acceptance of medical tests up to 55 years of age

Key Benefits of Universal Sompo Health Insurance Plans

Medical expenses incurred on hospitalization for room rent, ICU charges, drugs, consumables, nursing expenses, operating theatre charges, etc. are covered
Pre-hospitalization expenses are covered for 30 or 60 days before hospitalization as per plan opted
Post-hospitalization expenses are covered for 60 or 90 days after hospitalization as per plan opted
More than 140 day care procedures are covered, which requires hospitalization for less than 24 hours
Expenses incurred towards domiciliary treatment are payable
Organ donor’s treatment expenses are covered
Daily Hospital Cash is payable, subject to the applicable terms
Convalescence benefit is payable
Out-patient expenses are covered
Intensive Care Benefit is payable, depending on the plan chosen
Tax benefits are available for the premiums paid under section 80D of the IT Act, 1961

Value Added Benefits under Universal Sompo Health Insurance Plans

NCB benefit is available as 10% of the sum insured up to a maximum of 50% of the sum insured
Automatic restoration of Sum Insured
Annual health check up for every claim free policy year
Second opinion on your health condition
Ambulance charges are reimbursed
In-patient medical expenses incurred under AYUSH are covered
Sum Insured Enhancement at the policy renewal