UIICL Insurance PLans
Major Insurance Plans of UIICL: UIICl is mostly in General Insurance Segment. Their most of the schemes concentrate on this segment with 6 major insurance offerings. They are discussed below.
UIICL Insurance Plans
- UIICL Motor Insurance: Motor vehicle which includes private cars Motorised Two wheelers and Commercial vehicles excluding vehicles running on rails.
Insured’s Declared Value (IDV)
(a) In case of vehicle not exceeding 5 years of age the IDV has to be arrived at by applying the percentage of depreciation specified in the tariff on the showroom price of the particular make and model of the vehicle.
(b) In case of vehicles exceeding 5 years of age and Obsolete models (manufacture of those vehicles which have been stopped by the manufacturers) they have to be insured for the prevailing market value of the same as agreed to between the insurer and the insured.
- Health Insurance: It is one of the major policies of UIICL. It has 10 products under this scheme which are:
- Family Medicare: Children between the age of 3 months and 18 years are covered provided either or both parents are covered concurrently.Sum Insured ranges between Rs.1 lac to Rs.10 lacs in multiples of Rs.50,000/- upto Rs.5 lac and from Rs.5 lac to Rs.10 lacs in multiples of Rs.1 lac.
The policy covers all the members of the family under a single Sum Insured. Family comprising of self, spouse and Dependent children can be covered. The age of the proposer shall be between 18 and 80 years. - Gold: The Policy covers hospitalization expenses reasonably and necessarily incurred in India for treatment of illness/disease/injury sustained or contracted by the insured during the policy period. The policy also covers certain Day Care procedures.The entry age for this policy is between the age of 36 years and 60 years. An insured beyond 60 years shall continue to be covered under Gold policy provided the policies are renewed with us without any break.
Children between the age of 3 months and 18 years may be covered provided either or both parents are covered concurrently.
Sum Insured offered by us is between Rs.1 lac to Rs.5 lacs in multiples of Rs.50,000/-. - Individual Medi-claim: This insurance scheme covers a single person individually. This is not a family Medical Insurance.
- Platinum: The Policy covers hospitalization expenses reasonably and necessarily incurred in India for treatment of illness/disease/injury sustained or contracted by the insured during the policy period. The policy also covers certain Day Care procedures.The entry age for this policy is between the age of 18 years and 35 years. An insured beyond 35 years shall continue to be covered under Platinum policy provided the policies are renewed with us without any break.
Children between the age of 3 months and 18 years may be covered provided either or both parents are covered concurrently.
Sum Insured offered by us is between Rs.1 lac and Rs.10 lacs in multiples of Rs.50,000/-.
- Senior Citizen: The entry age for this policy is between the age of 61 years and 80 years.
An insured beyond 80 years shall continue to be covered under Senior Citizens policy provided the policies are renewed with us without any break.
Children between the age of 3 months and 18 years may be covered provided either or both parents are covered concurrently.
Sum Insured offered by us is between Rs.1 lac to Rs.3 lacs in multiples of Rs.50,000/-. - Super Topup: The Policy covers aggregate hospitalization expenses reasonably and necessarily incurred in India in respect of all covered hospitalization during the policy period exceeding the Threshold Level or any amount reimbursed or reimbursable under any Health Insurance Policies/Reimbursement Scheme whichever is higher, upto the Sum Insured stated in the policy.
The Policy is available both on Individual and Floater basis.Individual basis – All family members including the parents can be covered under single policy with difference sum insured and threshold level.Group basis – Single Sum Insured/Threshold level for all family members covered under the policy. Parents can take a separate policy.
The age of the proposer shall be between 18 and 80 years. Children between the age of 3 months and 18 years are covered provided either or both parents are covered concurrently.
Children above 18 years will cease to be covered if they are employed/self-employed or married.
Various Options with different Sum Insured and Threshold Level are available. - UNI Criticare: The policy has various Sum Insured options of Rs.1 lac, Rs.3 lacs, Rs.5 lacs and Rs.10 lacs. The policy has a waiting period of 90 days from date of inception of policy and a survival period of 30 days from date of diagnosis.
- Workmen Medicare Policy: Optional Sum Insured of Rs.50,000/-, Rs.1 lac & Rs.1.5 lacs.The policy covers hospitalization expenses incurred on account of Accident to the Workmen during and in the course of the employment.
The target segment for this policy would be Factory Owners/Contractors/Other Commercial Establishment looking for limited Medical cover for Workers/Employees arising out of accidents in the course of employment
- UIICL Travel Insurance: Coverage: Policy covers expenses incurred towards medical treatment for accident / disease sustained during overseas trips and loss of passport also covered under this policy.
Who can be Insured ?
Persons going abroad on business & holiday.
Insured against what risk ?
Medical expenses and repatriation
In-flight personal accident benefit
Loss of passport
- UIICL Personal Accident Policy: Coverage: Physical loss to an individual due to an accidental injury ( including fatal)
Who can be Insured ? Any individual or group of individuals ( through employer association and institution etc) aged between 5 and 70. Subject to medical examination at 70 a person can be covered up to 80.
Insured against what risk ? : Death or disablement from accidental bodily injury ( anywhere in the world).
What will the policy pay?
When an accidental injury being the sole and direct cause results ( during the period of insurance) in:
| Death | 100 % of Sum Insured |
| Permanent Total Disablement | 100 % of Sum Insured |
| Loss of two limbs/ Two eyes or one limb and one eye | 100 % of Sum Insured |
| Loss of one limb or one eye | 50 % of Sum Insured |
| Permanent Partial Disablement | Varying % of Sum Insured as per policy |
| Temporary Total Disablement | 1 % of Capital Sum Insured per week Subject to a maximum of Rs 3000 per week for a maximum period of 100 weeks |
On payment of extra premium medical expenses incurred up to 25 % of claim or 10 % of Sum Insured can be covered.
Policy also pays for education fund for dependant children (2) of deceased insured and expenses of carriage of dead body of insured from accident site ( as per details in policy)
Attractive cumulative bonus at the time of renewal by way of increasing the Sum Insured by 5 % for each completed claim free year of insurance ( maximum of 50 % CSI ) without collecting extra premium as per policy.
- UIICL Shopkeeper Insurance: This plan is meant for shopkeepers and is divided in 2 segments i.e. Fire and Burglary.
