Benefits of Universal Sompo Health Insurance
Universal Sompo is a leading name in the general insurance segment and the company offers a range of general insurance products to customers. The company is formed as a joint venture between an Indian company and a Japanese company and has a strong backing.
The company offers innovative insurance products and has a strong online presence making it easy to buy and service insurance policy. The banking partners of Universal Sompo have more than 7,700 branches across India making the company’s network strong and far-reaching.
When it comes to health insurance, Universal Sompo offers all types of plans for suiting individual needs. There are indemnity health plans, fixed-benefit plans, family floater plans, etc. to fulfill all your coverage requirements.
Additional Benefit of Free Health Check upFree health check-ups allow policyholders to monitor their health so that they can maintain and improve it. Universal Sompo’s health insurance plans allow customers with free health check-ups which can be availed once in one to four policy years depending on the plan selected.
Additional Protection over Employer CoverageEmployees who are already covered under their employer’s group health plan and are looking to increase their coverage can opt for Universal Sompo’s health insurance plans. The company’s plans are comprehensive and would allow additional protection to employees while the premiums rates would be low and affordable.
Cashless BenefitThe company provides the benefit of cashless claim settlements if you take treatments in a networked hospital. Universal Sompo is tied up with more than 4000 hospitals which facilitates easy cashless claim settlements for its customers.
Claim Settement RatioUniversal Sompo has an in-house claim settlement team which makes it easier for the company to settle its claims quickly. The company’s claim settlement ratio is 72.39%*. *The claim settlement ratio change from time to time.
Coverage against Medical ExpensesThe health insurance plans of Universal Sompo are equipped to cover all possible types of medical expenses which are incurred in a medical contingency. Thus, the plans give both basic coverage features as well as advanced coverage benefits. Basic coverage benefits which are found in Universal Sompo’s health plans include pre and post hospitalisation expenses, inpatient hospitalisation, day care treatments, alternative treatments, ambulance charges, etc. Advance coverage options include coverage for OPD, maternity, second opinion, hospital cash benefit, etc. which are found in comprehensive health insurance plans.
Incurred Claim RatioIncurred Claim Ratio (ICR) means the proportion of premium which is used up in paying claims in a financial year. For the year 2018-19, Universal Sompo’s ICR was 92%* showing that the claims paid were more than the premiums earned. The incurred claim ratio change from time to time.
Tax BenefitHealth insurance premiums earn a tax benefit under Section 80D of the Income Tax Act. So, if you buy Universal Sompo’s health insurance plans for yourself, your family and your parents, the premium paid up to Rs. 55,000 (Rs. 25,000 for individual and Rs. 30,000 for senior citizen) would be allowed as a deduction from your taxable income.
Universal Sompo Health Insurance Plan List
|Name of Plan||Sum Insured|
|Complete Healthcare InsuranceMin: 1 Day; Max: 70 Years||1 Lakh||Get Quotes Now|
|Individual Health Insurance PlanMin: 3 Months; Max: 55 Years||1 Lakh||Get Quotes Now|
|Critical Illness PolicyMin: 5 Years; Max: 65 Years||2.5 Lakh||Get Quotes Now|
|Senior Citizen Health InsuranceMin: 60 Years; Max: 70 Years||1 Lakh||Get Quotes Now|
|Arogya Sanjeevani PolicyMin: 3 Months; Max: 65 Years||1 Lakh - 5 Lakh||Get Quotes Now|
|Corona Kavach PolicyMin: 1 day; Max: 65 years||50,000 - 5 lakh||Get Quotes Now|
|Corona Rakshak Policy Min: 18 Years; Max: 65 Years||50,000 - 2.5 lakh||Get Quotes Now|
Universal Sompo Health Insurance User Reviews
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Universal Sompo Health Insurance FAQs
How to buy and apply for Universal Sompo Health Insurance plan?
You can buy and apply for any Universal Sompo Health Insurance Policy online from the official website of Universal Sompo Health Insurance at www.universalsompo.com or through online broker’s website like insurancedekho.com.
Are pre-existing diseases covered in Universal Sompo Health Insurance?
Yes, pre-existing diseases are covered. But, it’s subject to the waiting period mentioned in your health plan.
How long does TPA take to approve the claim?
Generally, TPA approves the claim within 3-6 hours after receiving all relevant documents.
How long does it take to clear the bills?
Once all the relevant documents are received, it normally takes 7 days to settle the bills.
What is a health card?
A health card is an identity card issued to policyholders. It enables them to avail cashless treatment at every network hospital.