New Health Insurance Policy Covers Hospitalisation Charges for Accident, Surgery; See Features

Universal Sompo General Insurance Company Ltd, a joint venture of Indian Bank, Indian Overseas Bank, Karnataka Bank, Dabur Investments, and Sompo Japan Insurance Inc, has launched a health insurance package that offers a host of services including hospitalisation charges due to accident, illness or surgery arising out of any disease, occurred during the policy period. The Complete Healthcare Insurance plan is a comprehensive health insurance cover that includes a slew of new features, including 14 base and 26 add-on covers to protect policyholders from escalating medical costs, the company said in a press release dated July 1, Friday.

“Additionally, it has five product variants to cater to various customer segments. It covers medical expenses incurred by the insured due to hospitalization/ domiciliary hospitalization in the event of a sudden illness, accident, or any surgery required in the course of any disease that has developed during the policy period,” Universal Sompo General Insurance said in the press release.

Benefits of Universal Sompo Complete Healthcare Insurance Plan

– The Universal Sompo healthcare package provides comprehensive coverage that can be renewed indefinitely.

– It offers a wide range of Sum Insured options, up to Rs 50 lakh, at a competitive premium rate.

– Further, the policyholders can expect a premium waiver for the fourth year of the policy.

– The differentiating characteristic of the policy is a one-year waiting period for certain specific ailments along with a reduced waiting time for pre-existing diseases.

– Other salient features of the policy include OPD and maternity coverage along with Emergency Assistance Services that can be availed the world over.

Key Features of the Policy

– The policy tenure ranges between one, two and three years

– There are five types of plans under the Universal Sompo healthcare package — Essential, Privilege, Plus, Premier, Executive, Digi – Pro

– The minimum age at entry for general people should be 18 years, while the maximum age is 75 years. For children, the minimum age is 91 days, with the maximum being 25 years

– Up to 20 relationships with insured is covered under this package

– The base package offers coverage on in-patient treatments including Day-Care Procedures, Post Hospitalisation, Domiciliary Expenses, Organ Donor, Ambulance Charges, Pre-Hospitalisation. It also covers out-patient treatments including – Mother and Child-Care Benefit, Dental Treatment (Accident Only),

Ayush Benefit, Daily Cash for Accompanying Child, Vaccination, Convalescence Benefit. Moreover, in case the policyholder exhausts Base Sum Insured (SI) and No Claim Bonus in a policy year, then the Company will restore SI equal to Base SI. Further, the base package also offers tax benefits under Sections 80 D, 10 D

While announcing the launch of the Complete Health Insurance plan, Sharad Mathur, managing director and CEO at Universal Sompo, said, “An effective health insurance is a prime foundation of social security. The set of new features in our policy provides customers with a variety of add-on coverages while keeping the premium rates affordable. The uncertainties that all of us face today, be it financial or in terms of health and wellbeing, invigorates the need for having a comprehensive health insurance cover”