Universal Sompo Swarna Gramin Bima Yojana Plan Benefits, Features, Buy & Renew

Universal Sompo Swarna Gramin Bima Yojana Plan – The Swarna Gramin Bima Yojana (Individual) of Universal Sompo provides complete protection against all diseases, accidents, and critical illnesses. Gramin, a village dweller, can take advantage of this policy by protecting himself, his family, and organizations like NGOs and financial institutions that serve rural clients so they can provide financial assistance in times of need. The Swarna Gramin Bima Yojana (Group) is a comprehensive health insurance plan for Gramin (Village Dweller) residents that covers medical costs in the event of an accident or illness. This plan also allows you to include members of your family. It is the ideal health insurance for you, your family, members of your organization or non-profit, and rural bank customers.

The Union Ministry of Agriculture has announced the launch of the Universal Sompo Swarna Gramin Bima Yojana (USGY) plan. The USGY is a government-backed scheme that aims to provide rural households in India with a minimum amount of foodgrain each month. The scheme will be implemented in a phased manner over a period of three years, and will provide households in rural areas with 2 kg of foodgrain per person every month. The scheme will be implemented through a network of small, medium, and large farmers’ cooperatives.

Universal Sompo Swarna Gramin Bima Yojana Plan

The purpose of this health insurance product is to make it available to people who live in villages and other rural areas. This plan is available to people between the ages of 60 and 70, offers lifetime renewal, and the maximum amount insured is Rs. 2 lakhs. Since it can be purchased as either an individual policy or a family floater policy, the policy also provides a discount on the premiums that must be paid when adding family members to the policy.

Universal Sompo, a general insurance company, is known for its wide range of products in a variety of fields. The company offers a variety of health insurance options that are suitable for various needs. The Swarna Gramin Bima Yojana (Individual) policy from Universal Sompo is made just for people who live in villages in the country. Personal accident losses, critical illnesses, and daily cash expenses incurred while in the hospital are covered by this policy. To ensure that the rural population has easy access to adequate insurance coverage against a variety of health risks, this policy has a price that is affordable.

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Universal Sompo Swarna Gramin Bima

Universal Sompo Swarna Gramin Bima Yojana Plan Details

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Eligibility for Universal Sompo Swarna Gramin Bima Yojana

Do you live in India? If so, you may be eligible for the Universal Sompo Swarna Gramin Bima Yojana (USGBY). The USGBY is a government scheme that provides financial assistance to citizens living in India who are in need of essential medical supplies and equipment. This assistance can include things like prescription drugs, medical devices, hospital equipment, and more. Whether you are eligible or not, it’s important to know how to apply for the USGBY so that you can get the help that you need.

Individual applicants can apply for the Universal Sompo Swarna Gramin Bima Yojana if they meet the following eligibility requirements:

  • This policy’s proponent must be between the ages of 18 and 65.
  • From the age of six months, dependent children can be covered.
  • After purchasing this coverage, policyholders have the option to renew their coverage for life.
  • On a family floater basis, a maximum of two adults and two dependent children can be enrolled in the same policy.

Also Check-Sahara Shubh Nivesh-Jeevan Bima Plan 2023

Features of Universal Sompo Swarna Gramin Bima Yojana

Are you looking to improve the quality of your drinking water? If so, you might be interested in the Universal Sompo Swarna Gramin Bima Yojana (USGBY). This government-sponsored scheme provides funds for the installation of water infrastructure, such as well blocks, tanks, and treatment plants. The programme is open to all villages in India that are below the poverty line. So whether you’re in a remote village or an urban area, you can benefit from the USGBY. Here’s a closer look at its features.The following are some of the features included in this policy:

  • The company requires a pre-insurance medical exam before enrolling people over the age of 45.
  • Depending on the preferences of policyholders, the duration of the policy can be one, two, or three years.
  • For policy terms of two and three years, a long-term discount of 10% and 15% is available, respectively.
  • It is possible to receive a family discount of up to 10%, depending on the number of family members included in the policy.
  • After 48 months of coverage, pre-existing conditions are not covered.
  • risk” members and are required to contribute an additional 20% to premiums.
  • Depending on where the person applying for the policy is located, there will be a premium loading of up to 10%.
  • At the time of renewal, the underwriter has the discretion to increase the sum insured amount chosen at enrollment.
  • Customers who are dissatisfied with the cover can review the terms during the 15-day free look period and cancel it.
  • This policy cover can be renewed within a 30-day grace period provided by the company.
  • The insurer permits transfer to and from other market insurers. At least 45 days prior to the renewal date, the company must be informed of the portability option.
  • The premiums paid for this policy are eligible for exemption from income tax under Section 80D of the Income Tax Act.

Also Read-Sahara Shrestha Nivesh-Jeevan Bima Plan 2023

Benefits of Universal Sompo Swarna Gramin Bima Yojana

The Universal Sompo Swarna Gramin Bima Yojana (Individual) benefits can be broken down into three distinct categories. Section A covers personal accident coverage and covers benefits in the event of death or permanent disability. Section C provides daily cash during a hospital stay, and Section B covers critical illness. The following are some of the advantages:

Section A: Personal Accident

Benefits Extent of Coverage
Death of the insured or his/her family members Lump sum payment of 100% of the sum insured amount
Permanent total disablement of the insured or his/her family members Lump sum payment of 125% of the sum insured amount
Permanent partial disablement resulting from an accident Up to 50% of the sum insured amount

Section B: Critical Illness

Benefits Extent of Coverage
Diagnosis of critical illness Coverage for treatment expenses up to the sum insured limit
Option 1 Cancer of specified severity First heart attack Coronary artery bypass graft Open heart replacement Coma of specified severity
Option 2 (includes all illnesses covered under option 1) Multiple sclerosis with persisting symptoms Stroke resulting in permanent symptoms Permanent paralysis of limbs Kidney failure
Option 3 (includes option 1 and option 2) Motor neuron disease with permanent symptoms Major organ or bone marrow transplant

For option 2 and option 3, a premium loading of 25% and 40% on the basic charges will be applicable.

Section C: Hospital Cash

Benefits Extent of Coverage
Daily cash benefit for hospitalization exceeding 2 days or more Option 1 – Rs.250 per day (max. Rs.45,000) Option 2 – Rs.500 per day (max. Rs.90,000) Option 3 – Rs.1,000 per day (max. Rs.1.8 lakh)
Daily cash for ICU admission (for up to 7 days max.) Double the cash benefits offered under regular coverage

Read More-Bharti AXA Life Grameen Jeevan Bima Yojana Plan

Exclusions of Universal Sompo Swarna Gramin Bima Yojana

Thank you for your question! As per the eligibility criteria for the Universal Sompo Swarna Gramin Bima Yojana (USGSY), the beneficiary families are those who are actually living in the affected districts and who have lost their homes due to natural calamities such as floods, landslides, hurricanes, earthquakes, and other such disasters.

The following list of general exclusions apply to policyholders who opt for this coverage:

  • Any cases made under more than one segment during a particular strategy period
  • Demise or handicap emerging out of labor or related entanglements
  • Deliberate self-injury, self destruction, or self destruction endeavor
  • Passing or handicap caused while affected by medications or liquor
  • Any cases emerging out of cooperation in crimes
  • Claims inferable from war, intrusion, and openness to atomic materials
  • Any sort of physically communicated infections including HIV and Helps
  • Any treatment that is simply exploratory in nature
  • Dental treatment or medical procedure except if brought about by a mishap
  • Hospitalization with the end goal of analysis, footing, physiotherapy, and so forth.
  • Elective medicines, everything being equal,
  • Corrective or tasteful medicines, everything being equal,
  • Claims emerging out of cooperation in perilous exercises or outrageous games
  • Any ailment delegated a scourge by the public authority of India
  • Exceptional nursing care, routine wellbeing check ups, recovery, general weakness, and so on.

Policy Details of Universal Sompo Swarna Gramin Bima Yojana Insurance

So, you’ve decided to take the plunge and start your own business. Congratulations! One of the first things you’ll need to do is get insurance in case something bad happens. But which policy is right for you? In this blog post, we’ll discuss the details of the Universal Sompo Swarna Gramin Bima Yojana insurance policy, which is perfect for small businesses. e. Ready to take the plunge? Let’s go!

  • Free look period: on the off chance that you are not content with the arrangement agreements, you have the choice of dropping the strategy in something like 15 days of receipt of the approach records, gave there has been no case.
  • Aggregate Safeguarded improvement The Aggregate Protected under the Approach must be upgraded on reestablishment subject to endorsement from guarantor.
  • Restoration Your Arrangement will usually be sustainable for lifetime besides on grounds of extortion, moral danger or deception or non‐cooperation by you/any of the Safeguarded People.

Claim Procedure

Following an awful occasion, guarantee hint should be made to the organization right away. The safeguarded can contact the organization’s client care office to inform about the case demand. When the case demand has been recorded, the archives verifications connected with the case should be submitted in 30 days or less.

Documents Required for Universal Sompo Swarna Gramin Bima Yojana Insurance

Are you a resident of India and looking to avail of the benefits of the Universal Sompo Swarna Gramin Bima Yojana insurance? If so, you will need to ensure that you have the correct documents with you. We will also provide a checklist of the documents that you will need to have in order to be eligible for the insurance. So if you’re planning on applying for this insurance, make sure to read this post!

In case of Death

  • Policy Copy
  • Post Mortem Report (certified copies) – as applicable
  • F.I.R. or Death report or Inquest Panchnama (in original or certified copies)
  • Spot Panchnama (certified copies)- if applicable
  • Death certificate (in original or certified copy)

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