Universal Sompo Hospital Cash Insurance Policy

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Universal Sompo Hospital Cash Insurance Policy

Universal Sompo Hospital Cash Insurance Policy offers hospital confinement benefits, intensive care benefit and convalescence benefits. The policy can be taken by an individual for covering himself or herself, spouse, two dependent children who must be 25 years old or less than that and dependent parents.

Eligibility Criteria

To opt for Universal Sompo Hospital Cash Insurance Policy, a person should fulfill the following eligibility criteria:

√Entry age for the policy is 18 years at least, and a person can enjoy the benefits of the policy till 70 years of age.
√Lifetime policy renewal is offered.
√Entry age of dependent children should be 6 months or above.
√Up to 55 years of age, there will not be any kind of pre-acceptance tests. In case if your age is above 55 years, you need to require undergo the necessary medical tests that are scheduled under the terms and conditions of the policy. In case of acceptance of the proposal, 50% medical testing cost will be borne by the company.

Key Benefits

Universal Sompo Hospital Cash Insurance Policy has basically three key benefits in offering. Here are the benefits at a glance

√Hospital Confinement Benefit:
The policy offers daily allowance in case of hospital confinement of the policy holder or other beneficiary. Benefits are provided as per the premium plans chosen by the policy holder. This benefit excludes admission in ICU.
√Intensive Care Benefit:
Beneficiaries will get coverage for ICU admission, but in that case premium will become double for the policy holder. Admission in intensive care unit and general hospitalization are counted separately.
√Convalescence Benefit:
The policy also offers convalescence benefit of Rs. 10K, if the beneficiary's hospitalization period exceeds 21 days. The benefit would not be payable, if hospital cash period has been opted for more than 30 days by policy holder.

Additional Benefits

	Benefit	Details of benefit
01	Long Term Policy Discount	The policy can be taken for one and two or more years. Discount will be offered when policy will be bought for long terms (more than 1 year) with single installment premium payment.
02	Family Discount	Family discount of 5% is offered over the total premium policy.
03	Group Discount	Group discount is only available for the corporate business houses, where a group of people needs to be insured under this policy.
04	Portability	Portability benefit is offered to those who continue the policy with a break. For portability, an application has to be submitted before 45 days.
05	Free Look up Period	Policy buyers are offered 15 days of free look up period. Within the free look up period, you will get 100% return upon cancellation.

Frequently Asked Questions

√What is not covered under this policy?
Universal Sompo Hospital Cash Insurance Policy does not cover pre-existing disease, unless 48 months of continued policy coverage period gets over successfully.
√What is the method of assessment of the claim?
Under Universal Sompo Hospital Cash Insurance Policy common method of assessment is followed. Payment for claim has been done through check or electronic fund transfer.