GST Gone, Savings On! What It Means for Your Universal Sompo Policy!

Starting from 22nd September 2025 Retail Individual Health Insurance Products of Universal Sompo will be GST exempted.

FAQs For Existing Retail Individual Health Policy Holders

• Will my existing Universal Sompo Retail Individual Health policy premium decrease because of this change?
  • Yes. Any premium payment you make on or after September 22, 2025, will no longer have the 18% GST. This will reduce your total payment.
• Will I get a GST refund for premiums I already paid?  
  • No. The old 18% GST rate applies to all premiums paid before September 22, 2025.
• My renewal is on September 10, 2025. Do I get the 0% GST benefit?
  • No. Since your renewal date is before the change takes effect, you will still pay the 18% GST. You will receive the 0% GST benefit on your next renewal in 2026.
•  What if my policy check was picked up before September 22, 2025, but my policy was issued after that date?
  • Yes, you will be entitled to a refund. If your policy was issued on or after September 22, 2025, we will refund GST.
• Should I delay my renewal to get the GST benefit? 
  • No, we strongly advise against this. A lapse in your policy, even for one day, can leave you and your family unprotected from medical emergencies.
•   Will delaying my renewal affect my No-Claim Bonus or waiting periods?   
  • The main risk is being uninsured. Your benefits like No-Claim Bonus and continuity on waiting periods are protected if you renew within the grace period. But there is no coverage available in the grace period in case of an unfortunate medical emergency. This GST change does not affect your policy benefits.
• I have a premium due before September 22nd. Should I wait to pay? 
  • To keep your policy active and your benefits secure, please pay your premium on time. The 0% GST will automatically apply to any payments due on or after September 22, 2025.
• What if I cancel my current policy to buy a new one on September 22nd?
  • We do not recommend this. Cancelling an existing policy to save on GST could cause you to lose valuable coverage and other continuity benefits, leaving you exposed to risk.
• I pay my premium in monthly instalments. How does this affect me?
  • If your next payment is due before September 22nd, it will still have the 18% GST. All future instalments due on or after September 22, 2025, will automatically be updated to the 0% GST structure.
• I have already paid an advance premium. Will I get a refund for the GST portion?
  • No. Payments made before September 22, 2025, are subject to the old 18% GST rate, and no refunds will be issued.
•  I have a multi-year policy that is already fully paid. Will I get a refund for the GST on the remaining years?  
  • No. This change will not affect multi-year policies that have been fully paid for, as the entire premium was paid upfront with the applicable GST.
•  Does this exemption apply to group health insurance policies?  
  • No. The GST exemption is limited to retail individual health policies and does not apply to group health insurance schemes.

Simple Table To Refer:

Health Products where GST waiver is applicable:

• Complete Healthcare Insurance
• A Plus Health Insurance
• Supreme Healthcare Policy
• Senior Citizen Health Insurance Policy
• Indian Bank Health Care Plus
• IOB Health Care Plus Policy
• K Bank Health Care Plus
• Hospital Cash Insurance Policy
• Arogya Sanjeevani Policy, Universal Sompo General Insurance Company
• Super Healthcare Insurance
• Critical Illness Insurance Policy
• Muskaan
• Shakti Care Policy
• Saksham Bima, USGI
• Individual Accident Policy
• Travel Insurance Policy
• Domestic Travel Insurance
• Loan Secure Insurance Policy
• Saral Suraksha Bima