Universal Sompo Saral Suraksha Bima Policy

Policy Benefits

• A lump sum amount is payable on the first time diagnosis of any one of the 5 critical illnesses, including (Stroke resulting in permanent symptoms, Cancer of specified severity, Kidney Failure requiring regular dialysis, Open Chest CABG, Major Organ/Bone Marrow Transplant).
• In case of accidental death, the nominee is entitled to receive a one-time payment equal to 100% Capital Sum Insured. Permanent total disability resulting from an accident is covered up to a percentage of capital sum insured, as mentioned in the policy.
• Family cover is available under this plan.

Value Added Benefits

• Premium paid under this plan is eligible for tax exemption u/s 80D of IT Act 1961.
• Sum insured can be enhanced at the policy renewal, subject to underwriter’s approval.
• Portability benefit can be availed under this policy.
• All admissible claims are paid within 7 working days and in case of delay, interest is paid at a rate which is 2% above the bank rate.
• Take advantage of Lifelong Renewability.

Sub Limits

• No co-pay/cost sharing is applicable for this plan.
• Loss of sight of one eye and physical separation of or use of ability to use one hand or one foot is payable up to 50% of the capital sum insured. Other injury/loss for permanent total disablement is covered up to 100% of the capital sum insured.

Waiting Period Clause

• Initial Waiting Period: 90 day waiting period from the date of commencement of the policy for any claims to be admissible.
• Survival Waiting Period: Benefit under this plan can be availed after 30 days of survival period following the diagnosis of critical illness.
• Pre Existing Waiting Period: Pre-existing diseases are covered after 4 years of continuous policy coverage. This exclusion is applicable for critical illness coverage.