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.
The eligibility criteria outlined by the company for enrolling in the Universal Sompo Individual Personal Accident Policy can be listed as follows:
Some of the notable features of this personal accident cover can be listed as follows:
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:
|Benefits||Extent of Coverage|
|Death or permanent total disability||Lump sum payment of full sum insured amount as mentioned in the policy|
|Permanent partial disability||Depends on the nature of injury and the medical advice provided by the medical practitioner|
|Temporary total disability||Up to 1% of the sum insured subject to a maximum of Rs.5,000 per week for a maximum of 104 weeks|
|Transportation costs for carrying dead body (including funeral charges)||1% of the sum insured subject to a maximum of Rs.2,500|
|Cost of clothing damaged in an accident||Up to Rs.1,000|
|Ambulance charges||Up to Rs.1,000|
|Education fund (against death or permanent total disability)||5% of the sum insured subject to a maximum of Rs.15,000|
|Compensation against loss of employment caused by permanent total disability||2% of the sum insured subject to a maximum of Rs.25,000|
|Medical expenses extension (optional)||Up to 40% of the personal accident claim amount|
|Hospital confinement allowance (optional)||Rs.500 per day for up 30 days in case of accidental hospitalisation|
Universal Sompo will not pay the insured for the following claims:
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:
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.
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