Universal Sompo Health Insurance vs Edelweiss Health Insurance

Your health is critical to your happiness and long life. So, invest in your physical well-being and ensure you are financially protected in the event of financial emergencies. This can be done through a comprehensive health insurance plan. A good health insurance plan helps you receive the best possible medical care without being a drain on your finances. 

Here is an in-depth comparison of Universal Sompo Health Insurance and Edelweiss Health Insurance to help you make an informed choice:

Universal Sompo Health Insurance versus Edelweiss Health Insurance – Overview

ParameterUniversal Sompo Health Insurance Edelweiss Health Insurance
Number of health insurance plans206
E-servicesPolicy purchase, renewal, claim settlement and life advisory servicesPolicy purchase, renewal, and claim settlement
Incurred claims ratio92%115%
Claims serviced since inceptionMore than 90% claims settledNot available 
Hospital network in India4000+3200+

*Source: Insurance Regulatory and Development Authority of India (IRDAI) Annual Report 2018-19 

Health Insurance Policy: Universal Sompo Health Insurance versus Edelweiss Health Insurance 

Universal Sompo Health Insurance Company is a joint venture between Allahabad Bank, Indian Overseas Bank, Karnataka Bank Ltd., Dabur Investments and Japan based Sompo Japan Nipponkoa Insurance Inc. Universal Sompo began its operations in India in 2007 and has been rapidly growing since then. The company offers 20 insurance plans including individual, group, family, personal accident, critical illness, Aapat Suraksha, hospital cash and more.

Edelweiss General Insurance Company is a part of the Edelweiss Group. The insurance firm is one of the latest entrants in the sector and has established firm grounds. The company believes in offering simple plans like silver, gold and platinum, each with different features. They also offer COVID-19 policies and Arogya Sanjeevani cover.

Check the detailed plan-based evaluation of Universal Sompo Health Insurance and Edelweiss Health Insurance 

Individual and Family Plans

Universal Sompo offers a complete health insurance plan for you and your family members. Important features of the health plan include:

  • Protects 13 people under the same policy including self, spouse, dependent children up to the age of 25 years and parents
  • Includes three different plan options – Basic, Essential and Privilege
  • Covers costs like in-patient hospitalisation, pre- and post-hospitalisation, day-care procedures, organ donor, maternity, OPD, AYUSH, HIV cover, ambulance, dental treatment, AYUSH treatment, vaccination, health check-ups, etc. 
  • Offers value-added benefits such as doctor consultation, second medical opinion, Health Educational Library for People (HELP), wellness package and much more
  • Permits individuals up to the age of 55 years to buy the plan without a medical test
  • Provides automatic sum insured restoration benefit

Edelweiss offers three categories of plans for individuals and families. Key features include:

  • Available for everyone older than three months
  • Covers eight people including self, spouse, up to three children and any other relation with an insurable interest
  • Offers different plans namely silver, gold and platinum, to cover extensive healthcare needs
  • Includes costs such as hospitalisation, room rent, pre-and post-hospitalisation, day-care treatment, ambulance, AYUSH treatment, free-health check-up, etc. in all three plans
  • Offers advance benefits like maternity, critical ailment, recovery, organ donor, etc. in  gold and platinum policies
  • Provides coverage for medical referral, evacuation, compassionate visit, second medical opinion, the return of mortal remains, medical monitoring, etc. across all plans

Arogya Sanjeevani Policy

Both Universal Sompo Health Insurance and Edelweiss Health Insurance offer the standard health insurance plan, Arogya Sanjeevani Policy. The plan is designed by the Insurance Regulatory and Development Authority of India (IRDAI) and includes standard terms and policy wordings across all insurance companies.

Key features of the plan include:

  • Available for anyone between 18 and 65 years of age
  • Permits a minimum sum insured of Rs. 1 lakh and a maximum sum insured of Rs. 5 lakhs ( and in multiples of 50,000 in between)
  • Includes costs like expenses on surgery, consultancies, diagnostics, AYUSH treatment, pre-and post-hospitalisation, COVID-19, dental treatment, plastic surgery, day-care, road ambulance, and more
  • Insures self, spouse, parents, parents-in-law as well as dependent children between the age of three months and 25 years
  • Upholds unvarying policy premiums pan India
  • Allows renewability for life

COVID-19 Insurance Plans

Universal Sompo and Edelweiss Health Insurance offer specialised COVID-19 health policies known as Corona Kavach and Corona Rakshak. These plans have been precisely designed by the IRDAI to meet the growing insurance needs during the COVID pandemic. 

The two insurers provide all features as mandated by IRDAI. To know which insurer is better for a COVID-19 policy, compare their general overview.

General features of Corona Kavach include:

  • Accessible for people aged between 18 and 65 years
  • Includes sum insured between Rs. 50,000 and Rs. 5 lakhs
  • Pays for hospital room rent, surgery costs, nursing expenses, specialist fees, pre-and post-hospitalisation, home care treatment, road ambulance and AYUSH treatment for a COVID-19 patient
  • Allows daily hospital cash upon fulfilment of specific terms
  • Permits cashless treatment across the insurer’s approved hospital network

Standard features of Corona Rakshak include:

  • Available for anyone aged between 18 and 65 years
  • Offers a lump-sum payout upon testing positive for COVID-19
  • Offers sum insured starting from Rs. 50,000 and extends up to Rs. 2.5 lakhs
  • Provides short-term insurance cover for 3.5 months, 6.5 months and 9.5 months

Make safety a priority and choose the right plan for you and your loved ones. You can seek guidance from professional insurance experts to find a suitable health insurance plan.