Universal Sompo Individual Personal Accident Policy

• Premiums as low as Rs12/day for coverage of Rs.4 Lakhs*
• 10,000+ hospitals for cashless treatment
• Claim up to Rs. 55,000 deduction under section 80D**

The financial impact of an unexpected accident can be overwhelming for most middle-class families in the country. A medical insurance policy provides coverage against the hospitalisation expenses following an accident. Apart from the medical expenses incurred due to the accident, the day-to-day expenses of the dependents will also get seriously affected due to the death or disability of the primary earner of a family. Universal Sompo Individual Personal Accident Policy is designed to provide financial security against these unexpected expenses. This policy comes with an affordable price tag, and it helps people mitigate the financial threats caused by accidents.

Eligibility for Universal Sompo Individual Personal Accident Policy

The eligibility criteria outlined by the company for enrolling in the Universal Sompo Individual Personal Accident Policy can be listed as follows:

• The entry age of the proposer must be between 18 years and 65 years.
• Dependent children can be covered from the age of 5 years.
• People between the age of 65 and 75 can be covered in this policy with a 20% premium loading.
• Lifelong renewability option is available with this policy cover.

Features of Universal Sompo Individual Personal Accident Policy

Some of the notable features of this personal accident cover can be listed as follows:

• This policy provides benefits against death or disability of the insured person. Policyholders can also take some add-on covers to boost the level of coverage offered to them.
• This policy is available in three different options (basic, wider, and comprehensive) based on the level of coverage offered.
• This policy is available in multiple sum insured options based on the yearly income level of the policyholder.
• The maximum sum insured amount available under the basic cover is 10 times the annual income of a person. For wider and comprehensive plans, the maximum sum insured amount is capped at 5 times the annual income of a person.
• The sum insured amount chosen at the time of enrollment can be enhanced at the time of renewal.
• A family discount of 10% for 3 members, 12.5% for 4 members, and 15% for 5 or more members is available under this policy cover.
• There is a free look period of 15 days from the date of inception of this policy cover. During this period, customers can review the terms of this policy and return it if they are not satisfied.
• Customers can also avail loyalty discounts offered by the insurer if they renew their policies within 7 days from the date of expiry. The loyalty discounts on premiums are as follows: 5% for 1st year renewal, 10% for second year, and 15% for third year.
• This policy will be issued for a 12-month period, and it must be renewed every year.

Benefits of Universal Sompo Individual Personal Accident Policy

As a personal accident cover, this policy provides financial security against the death or disability of the insured person. In addition, policyholders can also get coverage for loss of employment, education fund, etc. The overall benefits available under this policy can be given as follows:

Exclusions of Universal Sompo Individual Personal Accident Policy

Universal Sompo will not pay the insured for the following claims:

• Natural death of the insured person
• Claims for more than one benefit within the same period of disablement
• Any medical (without the add-on cover) or non-medical expenses incurred by the policyholder
• Intentional self-injury, suicide, or attempted suicide
• Injury or death resulting while under the influence of alcohol or drugs
• Injury or death resulting from participation in hazardous activities
• Injury or death occurred while breaching the law with criminal intent
• Injury or death caused by war or warlike activities
• Any expenses related to pregnancy, childbirth, or related complications
• Any kind of venereal or sexually transmitted diseases
• Curative treatments or interventions

Claim Procedure

The claim form for this policy can be downloaded from the official website of Universal Sompo. In case of the death of the insured, the company must be intimated within one calendar month. In case of permanent disability such as loss of eyesight or amputation of limbs, the insurance company must be notified within a maximum of one month. Upon intimation, the claim must be made along with all the required documents within 7 days. The following documents are required while filing for the claim:

• Original FIR
• Hospitalisation report
• Discharge summary
• Physician certificate
• Panchnama
• Death certificate (for death claims)
• Post mortem certificate (for death claims)
• Any other documents requested by the company

Once the claim has been made, the company will verify all the documents and inform the insured about the acceptance or rejection of the claim. In case of rejection, the company will communicate the reason for the rejection. Following the acceptance of the claim, the settlement amount will be provided in a maximum of 30 days.