Universal Sompo Health Insurance Renewal Process in India
The price of healthcare has risen dramatically in recent years and it is currently moving to the north in the wake of the COVID-19 epidemic. To cover these costs having health insurance is the best option. However, there is a chance that health insurance plans may not work for you if the insurance renewal is not made on time.
You may choose to buy a Mediclaim policy online or through offline mode and it is generally issued for a year during which a policyholder can make use of all the benefits provided by the insurance company. For example, Mr. Raju had bought an individual health insurance policy from a popular insurer. Although he did not use it for any claims, he forgot to renew the policy after one year, which led to the cancellation of the health cover. Now, he won’t be able to use it for any other medical expenses due to the cancellation of the policy. If he had renewed the policy on time, he wouldn’t have had to face the situation.
The necessity for Renewal of Health Insurance
Your inability to complete Universal Sompo renewal at an appropriate time is something that should be avoided at all costs since it could cause the termination of your insurance policy. So, if you’re currently in the grace-time period there’s no reason to be concerned as it allows you to renew the insurance policy in case of not being able to meet the deadline which was due to expire.
Moreover, the most significant benefit of Universal Sompo health insurance renewal is that you can take advantage of the discount on premiums due to the no-claim bonuses, health check-ups, wellness packages, etc., which won’t be available if you don’t renew within the grace period.
Universal Sompo Renewal Online
To insure you and your family are secure in the future, completing the Universal Sompo policy renewal is a requirement. To keep your health plan in good standing, you must give the number of your current insurance policy along with additional personal information, such as the name of the person who is aged, their gender, contact details as well as other information., on their website, if you plan to renew health insurance online.
- Visit the official site of Universal Sompo Insurance Company which is universalsompo.com
- Choose the “Renew” option on the home page, which will lead you to a webpage to input the details of your policy
- Provide the policy number and date of birth in the spaces provided and click on continue
- Opt for a payment method from the available choices such as internet banking, Debit/Credit Card
Once the premium is paid, a confirmation mail from the insurance company shall be sent to your registered mail address, which confirms that the insurance policy has been successfully renewed. For reference purposes, you may also download the soft copy of the policy or receipt directly from the link provided.
To assist the policyholders with more options, Universal Sompo general insurance renewal can also be done by calling the customer service department on 24/7 Customer Care 1800-22-4030/ 1800-200-4030 or by visiting the nearest branch.
Do you want to switch to a different insurance policy?
According to IRDA guidelines, insurance policyholders can switch to a different insurance company without having to give up the benefits of the previous insurance policy. If you’d like to move to the health insurance scheme from another insurance company and wish to keep enjoying the benefits associated with the insurance policy, the ‘insurance portability’ feature can be very beneficial. If the option to port your policy is chosen before renewal, it is possible to ensure that the person who purchased the policy will continue to enjoy the benefits that have been accumulated through the previous insurer.
What happens if a policy is not renewed?
The non-renewal of your health insurance policy shall directly lead to no coverage of your health. In such a case, the policyholder is not eligible for any benefits or insurance associated with the insurance plan even if they were benefiting from them earlier. Therefore, it is strongly recommended to ensure that you pay the premium for renewal early so that you don’t end up in this type of circumstance. Most insurance companies will send reminder emails along with SMS text messages to the contact information on your file to ensure that you don’t fall late with renewals. However, there are instances that you won’t receive them, and manually reminding you is the only option to overcome such issues.
Also Read: Universal Sompo Health Insurance Claim Settlement
How to track insurance renewals?
For health insurance policy renewal, Universal Sompo insurance will issue an official renewal reminder by post or email with a copy of the document that will contain all the information required like the premium amount that the policyholder owes, the nature of the claims (if there’s one) as well as details of the insurance amount as well as the bonus for no claims (if there is any). The insured must go through the documents to make sure that there aren’t any factual mistakes before making the renewal.
It is essential to ensure that your policy is in good condition, well before the deadline, and keep away from any last-minute mistakes. You can also create reminders so that you don’t go over the deadline to expire. If you’re renewing your insurance policy by yourself via the internet, ensure you’re aware of all conditions and the terms of the policy. Also, make sure that you’re aware of any modifications which have been implemented to the plan or coverage on their official website.
In the current times, periodic checks of your insurance coverage are crucial. It is essential to determine if the insurance policy you select will cover the medical expenses that you might have to incur or if you want to move to another insurer and transfer all the benefits to the new insurer. To do this, you must act before the date of renewal so the plan provides health coverage continuously.
1. Is Universal Sompo govt or private?
Universal Sompo General Insurance is the first private partnership in Indian General Insurance Industry. The company was founded in 2007 and it has now 17 zonal offices, 86 branch offices, and a 1500 strong workforce.
Who is the owner of Universal Sompo General Insurance?
Universal Sompo General Insurance Co. Ltd is a joint venture of Indian Bank, Indian Overseas Bank, Karnataka Bank Ltd, Dabur Investment Corporation and an eminent general insurer from Japan, Sompo Japan Insurance Inc. Mr. Sharad Mathur is the Managing Director & CEO of the company.
How do I claim Universal Sompo insurance?
For a reimbursement claim,
Once getting discharged from the hospital, all hospital bills will be settled by the policyholder. You just submit all bills and treatment reports to the insurance company. At the same time, you need to submit the duly filled claims form to USGI for processing and reimbursement.
Universal Sompo health insurance renewal online?
1. Visit the official website of Universal Sompo and choose Health Insurance.
2. Select the policy you want to renew by clicking on the ‘Renew Now’ tab.
3. Enter the policy number and your date of birth. Answer ‘Do you have a claim on your existing policy in yes or no.
4. After submitting all imperative details, click on the ‘Renew Now’ tab.
5. Now, you need to make the payment. Once your payment is successful, you will receive a confirmation in your email.
Universal Sompo health insurance login?
First, you need to go through the official website of Universal Sompo
1. If you are an existing customer, then click on ‘Existing User’ under the Login tab.
2. Now, enter the user ID and password.
3. Click on login
But if you are a new customer, then you must create an account with Universal Sompo by entering the Policy No. and Date of Birth. Then, you can log in with the details.