Universal Sompo Swarna Gramin Bima Yojana - Individual

This is a health insurance product that has been created with the idea of bringing the to those residing in villages and other rural areas. This is a plan that can be taken by those between the ages of 60 to 70 years and offers lifetime renewability along with a sum insured that can go up to Rs. 2 lakhs. The policy also offers a discount on the premiums payable when it comes to adding members of the family to the policy since can be taken as an individual policy or a family floater policy.

Features and Benefits of Universal Sompo Swarna Gramin Bima Yojana – Individual:

Listed below are the features and benefits of this health insurance policy:

  • Minimum age of entry: 60 years
  • Maximum age of entry: 70 years
  • 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
Discounts You can receive a discount on premiums under the following conditions:
Family members Discount %
Self -
Self and Spouse 5%
Self, Spouse and 1 child 7.5%
Self, Spouse and 2 children 10%
The maximum discount will not exceed 40%
Cover offered This policy will cover the eventualities mentioned below:
  • 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
  • Depending on the policy option chosen the procedures for surgeries and critical illnesses are covered
  • 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.
  • Bone marrow transplant, Multiple Sclerosis and any persisting symptoms related are covered in this policy
  • Stroke and related symptoms are covered
  • Hospital cash will be paid for a minimum stay of 2 days in a hospital
  • Any pre-existing diseases will not be covered for a period of 48 months
Benefits The benefits under this policy are:
  • A free look period for 15 days from the date of receipt of the policy will be provided to the applicant
  • Tax benefits as per Section 80D of the Income Tax Act, 1961 will be applicable for the applicant.
  • A discount on premiums will be provided to the applicant depending on the number of family members are added to his/her policy
  • Sum assured can be increased during the renewal of the policy
  • 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
  • Certain critical illnesses listed in the policy documents will not be covered under the policy
  • Cosmetic surgery, plastic surgery, circumcision etc, are not included under this policy
  • Death due to disablement or due to childbirth or pregnancy is not covered
  • Dental treatment of any kind will not be covered
  • Alternate kind of treatments

This is not a complete list of the features and benefits offered by this policy. Please refer to the policy document for complete information.

Find cashless network hospitals nearby: Universal Sompo Cashless Network Hospitals

Other Health Insurance Plans from Universal Sompo:

GST rate of 18% applicable for all financial services effective July 1, 2017.

Disclaimer: Premiums may vary depending upon factors like age, location and prevailing taxes/GST.

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