Know About HDFC ERGO Health Insurance Policy Renewal

HDFC ERGO General Insurance was founded in 2002 and is headquartered in Mumbai, Maharashtra. They are operating in 106 Indian cities with over 120 branches. With an employee base of over 3000, HDFC ERGO is one of the leading insurers in India.

In the year 2020, Apollo Munich Health Insurance merged with HDFC ERGO Health Insurance, now India’s second-largest accident and health insurance company. HDFC ERGO has a wide network of over 12000 hospitals. Customers get renewal benefits where health check-ups are provided within 60 days of renewing the policy. With a claim settlement ratio of 100% HDFC ERGO has maintained its stature. Online purchases or renewals also get customers an additional 5% online discount. [1]

Importance of Renewing HDFC ERGO Health Insurance Policy

The benefits of renewing your HDFC ERGO Health Insurance policy are as follows:-

• Continued Coverage:- Getting the base policy renewed on time gives an advantage of continued coverage to the customer. HDFC ERGO will continue covering all the medical expenses in your policy if the renewal is done on time.  
• Waiting Period Reduction:- The waiting period in every policy will stay intact once the renewal of the policy is done. All the benefits and coverages will be continued if the customer renews their policy on time. However, if the customers delay their renewal then HDFC ERGO cannot cover them financially during medical emergencies and the customers will have to start all the waiting periods again.
• No-Claim Bonus:- The customer is provided with a no-claim bonus advantage on renewal of their policy if they had not made any claims in the previous policy year. Staying healthy and fit gets you this benefit.
• Health Check-ups:- HDFC ERGO provides free health check-ups within 60 days after renewal of your health policy. This is an added benefit where a customer can monitor their health for the whole policy year and avoid any medical mishaps. 

Things to Keep in Mind Before HDFC ERGO Health Insurance Renewal

Before renewing a health insurance policy the customer should keep certain things in mind. Mentioned below are a few of the things to remember:-

• Age:- Age plays an important role in renewing the policy. With an increase in age, the customer usually has to pay a higher premium because of the decrease in their health.
• Policy Changes:- While renewing a policy the customer has the benefit of making changes in their policy. They can either add riders or remove the ones they had in the previous policy year. A customer can customize their policy during renewal according to their requirements.
• Impact from Inflation:- The insurance companies may not provide inflation cover. When the market faces inflation then the premium on the health insurance policy may increase during renewal for the insurer to keep up with the market. 
• Record of Claims:- The amount of claims the policyholder makes can also determine their premium during renewal. The insurer may increase your premium if you have made multiple claims in one policy year.

Reminder Options For HDFC Health Insurance Renewal

There are times when a person may forget their renewal date and a reminder can help them during medical emergencies without any delays. A policyholder gets a reminder through the options given below:-

• InsuranceDekho Reminder:- InsuranceDekho sends you an email, SMS, and WhatsApp reminder when the renewal date is approaching for timely renewal.
• HDFC ERGO Reminder:- A reminder from HDFC ERGO is also sent to the policyholder through WhatsApp texts, SMS, and emails. 

HDFC ERGO Health Insurance Renewal Process

To renew your policy you can access both InsuranceDekho and HDFC ERGO's official website. Follow the process given below:-

Through InsuranceDekho:-[2]

Online Renewal Process

Step 1:- Visit InsuranceDekho's official website

Step 2:- Select the “Support” tab

Step 3:- Enter the details to receive an OTP

Step 4:- Login using the OTP 

Step 5:- Click on the “Renew” option

Step 6:- Make the necessary payment to finalise renewal.

For renewing your policy online with HDFC ERGO, visit their website and follow the process mentioned on their page, (the steps will be similar to that of InsuranceDekho).

Offline Renewal process

Alternatively, you can opt for the InsuranceDekho’s Home Visit option to get home assistance with policy renewal. 

Conclusion

Renewing your policy is important to get continued medical coverage after the expiration of the policy. The financial burden during medical emergencies is sudden stress covered by health insurance and renewing that insurance will provide the benefits under the policy to the customer without any hindrance.

References

[1] https://bit.ly/43UaW82

[2] https://www.insurancedekho.com/health-insurance/hdfc-ergo/renewal