The Universal Sompo Saral Suraksha Bima is a health insurance policy that can be taken at the age of 18 years. It can even be used to cover children and dependents of the policyholders. The policy can also be taken to cover members of a group or taken by an individual to cover himself and his family. THis is a policy that can cover the policyholder in case of them contracting a critical illness and even in case they suffer an accident are in need of the benefits of a health insurance policy.
Features and Benefits of Universal Sompo Saral Suraksha Bima:
Listed below are the features and benefits of Universal Sompo Saral Suraksha Bima:
Minimum: 18 years
Maximum: 65 years
Children from the age of 10 years can be covered if any one of their parents are insured under this policy.
Children who are unmarried also can be covered up to a maximum age of 25 years.
Group basis, individual basis
This policy can be renewed throughout the lifetime of the policyholder.
This policy covers 2 different situations:
Critical Illness - under this cover, the policy will pay for any of the following ailments.
A stroke that results in permanent symptoms
Cancer that has developed to a certain stage.
Regular dialysis due to kidney failure
Open chest Coronary artery bypass grafting
Bone Marrow transplant
Personal accident - under this section there are 2 sub sections which have been mentioned below:
Accidental Death: if the insured person dies in an accident, then the nominee will get a lump sum payment of the capital sum insured.
Permanent Total Disablement: wherein the insured will be entitled to get a percentage of the capital sum insured if he suffers a total loss of limbs, due to an accident.
The premium options available are:
For critical illness: the premium will be Rs. 10,000; Rs. 20,000 or Rs. 25,000.
For personal accident: the premium will be Rs. 20,000; Rs. 40,000; Rs. 50,000
The benefits under this policy are:
% of Capital sum insured
In case of Death
Loss of eyesight in both eyes, hands, feet
Total disability of permanent nature as certified for a Doctor
Loss of eyesight in one eye, or losing of one hand, or feet
50 - 50
The sum insured can be enhanced on the renewal of the policy
Nomination facility is allowed under this policy
The free look period for this policy is a maximum of 15 days from the day you receive the policy documents.
Notice Period of 3 months needs to be provided in case you wish to withdraw or modify the policy
The exclusions under this policy are:
Specific to Critical Illness:
There will be a waiting period of 90 days applicable to this policy if you have not been covered by this policy for at least 1 year, without interruptions
The policy does not cover pre existing diseases, unless a 48 month period has lapsed
The policy does not offer cover if death occurs within 30 days on the policy due to a critical illness
Specific to Personal Accident
Committing or attempting suicide
Drug addiction or alcoholism
Committing any breach of law with criminal intent
Injury due to adventurous sports
Death due to an act of war, invasion, act of foreign enemy, hostilities etc
Radiation or contamination by radioactivity
It should be noted that the information provided here is not completely representative of the features of this policy and it is advised that you read the policy documents carefully to understand it in its entirety.