Universal Sompo Swarna Gramin Bima Yojana - Individual

Eligibility

1. Minimum age of entry: 60 years
2. Maximum age of entry: 70 years
3. The applicant must be a permanent resident of India

Basis

The policy is available on an individual and family floater basis

Renewability

You can renew this policy for life

Sum Insured

The sum insured can start from Rs. 50,000 and go to a maximum of Rs. 2 lakh for personal accident and critical illness and surgical procedures

Policy term

The policy can be taken for a term of 1 year to 3 years

Family members

Discount %

Self and Spouse

5%

Self, Spouse and 1 child

7.5%

Self, Spouse and 2 children

10%

Cover offered

1. Personal Accident: wherein, there will be 3 benefits paid out:
   1. Benefit 1 - wherein if the insured or his/her family members unfortunately die, 100% of the sum insured will be paid out
   2. Benefit 2 - wherein if the insured or his/her family members are involved in an accident which causes permanent total disablement, 125% of the sum insured will be paid out
   3. Benefit 3 - wherein if the insured or his/her family members are involved in an accident which causes partial disablement, the extent of disablement will be used to consider the payout amount. Please go through the offer document for the percentages
2. Depending on the policy option chosen the procedures for surgeries and critical illnesses are covered
3. The critical illnesses covered will be cancer of a specified severity, open chest coronary bypass, open heart replacement, heart attack (only the first), coma of a specified severity, paralysis, kidney failure with dialysis.
4. Bone marrow transplant, Multiple Sclerosis and any persisting symptoms related are covered in this policy
5. Stroke and related symptoms are covered
6. Hospital cash will be paid for a minimum stay of 2 days in a hospital
7. Any pre-existing diseases will not be covered for a period of 48 months

Benefits

1. A free look period for 15 days from the date of receipt of the policy will be provided to the applicant
2. Tax benefits as per Section 80D of the Income Tax Act, 1961 will be applicable for the applicant.
3. A discount on premiums will be provided to the applicant depending on the number of family members are added to his/her policy
4. Sum assured can be increased during the renewal of the policy
5. Grace period will be given to the applicant a maximum period of 30 days from the date on which the premium is due to be paid

Exclusions

1. Certain critical illnesses listed in the policy documents will not be covered under the policy
2. Cosmetic surgery, plastic surgery, circumcision etc, are not included under this policy
3. Death due to disablement or due to childbirth or pregnancy is not covered
4. Dental treatment of any kind will not be covered
5. Alternate kind of treatments