Health Insurance Renewal
Every health insurance plan comes with a validity of let's say 1 year, 2 years, or 3 years, after which it needs to be renewed. In case the policy is not renewed on time, then it will get lapsed and the insured individual will lose all the accumulated benefits including waiting period benefits.
- Tax BenefitUp to 75000**
- Claim SupportEveryday 10AM-7PM
- 45 Lacs+Happy Customers
*Standard Terms and Conditions Apply.
**Tax benefits are subject to changes in Income Tax Act.
Every health insurance policy is valid for a fixed period of 1, 2 or 3 years. Beyond this tenure, the policy needs to be renewed. It is imperative to renew your health insurance as it allows you to continue enjoying the coverage benefits offered under it. In case a policy is not renewed before its expiry. It will get lapsed and you will lose the accumulated benefits such as No Claim Bonus or waiting period benefits and will again have to purchase the policy which might be a daunting task. The health insurance that you have purchased can be renewed either through the official website of your health insurance company or at InsuranceDekho.
Renewing health insurance policy is just a matter of a few minutes. One can renew a health insurance policy via online or offline mode as per their convenience. Most health insurance companies offer an online renewal facility as it not only saves customer’s time but also offers them flexible payment options. No matter which mode, one must keep health insurance renewal on priority.
Benefits of Health Insurance Policy Renewal Before Expiry
Apart from uninterrupted peace, health insurance policy renewal on-time offer you the following benefits:
- Continuous Protection: Most health insurance companies do not offer health insurance to customers after a certain age. This is because people usually have some pre-existing diseases or chronic conditions in old age. To avoid a situation when one may need health insurance and can not get it, they should get it when they can. Renewing health insurance on time ensures continuous protection as per the terms and conditions at which the policy was purchased.
- Tax Benefits: On purchasing a health insurance policy, the policyholder becomes eligible for tax benefits under Section 80D of the Income Tax Act, 1961. To continue availing of tax benefits, one should timely renew their health insurance policy.
- Medical Insurance Becomes More Expensive With Age: The younger you are at the time of being covered under a health insurance policy, the lower your health insurance premiums will be. So, if you let your existing health insurance policy lapse, then you might not get a policy at the same health insurance premium, it becomes an expensive proportion in life.
How to Renew Health Insurance Policy Online At InsuranceDekho?
Following are the steps to renew your health insurance policy online at InsuranceDekho:
- Visit InsuranceDekho and click on the ‘Health’ tab.
- Go to the menu bar and click ‘Renewal.’
- Provide the basic details like policy number and expiry date. Your details will automatically get fetched.
- Fill in other details if required.
- Make the payment by using your debit/credit card or net banking.
- On successful payment, a digitally signed copy of the policy will get generated and sent to your registered email id.
- Get a print of the issued policy to retain in a paper form.
Note: While renewing the policy, you can choose to increase the sum insured limit of your policy. But for this, you will be required to pay a higher premium as you would be availing of higher coverage.
Health Insurance Renewal Online Process - Through the Insurer’s Website
Health insurance renewal is an easy process, especially when done online. One can renew their medical insurance policy online through the insurer’s website by following the steps given below:
Step 1: Visit the official website of the insurance company.
Step 2: Go to the health insurance renewal section available on the website.
Step 3: Enter your previous health insurance policy number and registered mobile number.
Step 4: Check the policy details and the policy renewal premium.
Step 5: Make the payment using your credit/debit card or Net banking.
Factors To Consider When Renewing a Health Insurance Policy
When renewing your health insurance policy, you must consider the following:
- Health Insurance Requirements: Reviewing health insurance requirements for self and family is the first thing anyone should think of when planning to renew their health insurance policy. It is most essential in case of new additions, which may be a newborn or even a new disease. This is because then you will have to ask the insurance company for additional coverage, calling for the policy review.
- Portability Option: The Insurance Regulatory and Development Authority of India (IRDAI) allows the policyholders to port their health insurance plans in case they are not satisfied with their current insurer in terms of service benefits. However, the option can be availed only at the time of renewal by intimating the insurance company at least 45 days ahead of the scheduled policy expiration. The policyholders can avail of this benefit without losing any accumulated benefits like No Claim Bonus or waiting period benefits. So in case of dissatisfaction, it is advised to give a thought to portability option at the time of renewal.
- Review Renewal Terms: Insurance companies send the policyholders a renewal reminder email before 45 days of the policy expiry wherein they mention the policy details such as sum insured, No Claim Bonus, number of claims, types of claims, etc. The policyholders must check the details and diligently inform the insurance company in case of any discrepancies.
- Revise Your Sum Insured: You can revise the sum insured of your health insurance policy only at the time of renewal. So, if you are about to renew your sum insured policy, then you must analyse the requirement of sum insured once again. Apart from sum insured, you can also enhance coverage under your health insurance policy by opting for an add-on cover if the insurer allows it.
Grace Period for Health Insurance Renewal
Health insurance grace period refers to the time or the number of days that you, as an insured, can take to pay the required health insurance premium for a particular health insurance policy. Generally, the insurance companies provide the insured a grace period of 15 days which is calculated from the due date. During this period, the insured can make the renewal payment. In case they fail to do so, then their health insurance policy will lapse and they will lose the accumulated benefits such as the waiting period benefits, No Claim Bonus etc.
Premium for Health Insurance Renewal
The health insurance premium is the amount of money that you are required to pay to the insurance provider to be able to avail of the policy benefits. Paying a health insurance premium is important to keep the policy in force. The premium of your existing health insurance policy may change at the time of renewal. Mostly, the revision will be seen upwards. You may be required to pay an increased health insurance premium at the time of renewal because of two reasons. Firstly, due to age, and secondly because most health insurance plans come for one year. However, it is not necessary that your health insurance premium will change at the time of renewal. It depends on the insurance company you have purchased the policy from.
Tips to Renew Health Insurance Online
Here are some tips that will help you make an informed decision when getting your mediclaim insurance policy renewed:
- Policy Renewal Before Expiry: The policyholder must remember the due date for policy renewal. This is because if he/she fails to renew health insurance on time, the insurance company provides a 15-30 day grace period to pay the due premium. Still, if the premium is not paid during the grace period, then the health insurance policy lapses and the insured will not be able to avail accumulated benefits if any.
- Tax Benefits: Premiums paid for health insurance policies are subject to tax deductions under Section 80D of the Income Tax Act, 1961. In order to avail better tax benefits, one can even change the policyholder at the time of renewal.
- Read Policy Documents Carefully: Thoroughly read the policy documents and check for the terms and conditions like renewal clause, exclusions, claim guidelines, etc.
- Disclose New Illnesses at the Time of Renewal: To ensure a smooth claim settlement process in the future, one must be honest with the medical details furnished not only at the time of policy purchase but at the time of renewal too.
- Opt For a Higher Sum Insured: Policyholders get the flexibility to increase the existing sum insured amount at the time of policy renewal. One can opt for a higher sum insured amount after undergoing medical tests and revision of claim history. Note that the policyholder can not opt for a sum insured option higher than the maximum sum insured option available under a policy. In that case, the policyholder can go for a top-up health insurance policy or a super top-up health insurance policy.
Note: Applying for mediclaim insurance renewal does not confirm the renewal. A policy can only be renewed with the mutual consent of the insurer and the insured. This means an insurance company has the right to deny health insurance renewal. Also, the terms and conditions and the premium are at the discretion of the insurer.
Things to Remember at the time of Renewing your Health Insurance Plan
It is extremely significant to get your Health Insurance Policy renewed prior to its expiry date. Generally, most of insurance providers send a renewal notice to their policyholders before the expiry of their policy. However, the insurance provider is not obliged to intimate the insured and it is considered to be the responsibility of the insured to get their policy renewed on time. In case, you let your policy expire, then you would end up losing your no claim bonus and other benefits on the next insurance policy.
Some of the things that you should remember while getting your health insurance plan renewed ar as follows:
- Get your Plan Renewed prior to Due Date
In case you forget to get your health insurance policy renewed prior to the deadline, then you will be given a grace period of 30 days before your insurance policy lapses. According to the regulations, health insurance companies are not liable to make payment for any claims arising during the policy lapse period.
- Add More Members
In case after a specific period, the insured individual wishes to include more family members to the policy, then it can be done by them at the time of policy renewal. Moreover, the policyholder is also allowed to exclude members from the policy and make any necessary changes to the terms during the time of renewal. For instance, if an individual decides to cover his parents to the existing family floater policy, including self, spouse and children, then it can be done by him at the time of policy renewal.
- Disclose any New Condition or Illness
Health insurance is an yearly contract, wherein the same terms and conditions are followed as the same as the previous year. However, during the time period, there may be some significant changes in your health profile. Taking things on a safer side and going by the principle of utmost good faith, it is recommended to inform your insurance company regarding the same. Accordingly, make a decision for your policy rather than going through the pain of claim rejection at a later stage.
- Increase the Sum Assured (if Required)
The sum assured can be increased only at the time of renewal of the health insurance plan. Therefore, it is important to plan accordingly. Moreover, remember that the premium also increases yearly. Imagine a scenario, where you have the maximum allowed sum insured by the insurance provider, however, you need more, so you can go for a top-up plan to adjust the remaining amount.
Please note that the top-up plan is also subject to the same terms and conditions as the insurance provider.
- Look for Any Changes in Terms and Conditions
It is important for the Insurance Regulatory and Development Authority of India to accept the changes before the insurance provider can apply it. Also, the company is obligated to inform you regarding any changes three months in advance. During the time of renewal of health insurance, you can port your insurance plan to a different insurance company or can even switch your plan to another health insurance plan in case you do not agree to the changes in terms and conditions of the plan.
- Inform Your Legal Heir
After renewing your health insurance policy, ensure that your spouse and other legal heir is aware of the changes and any other updates made by you. Ensure that you have kept the receipt in a safe place that can be obtained whenever needed by your family. Moreover, keep a copy of your receipts handy for your tax files. Arranging and keeping all the things in proper order, gives the much required peace of mind to you and your family members in case of any emergency.
Renewing health insurance policy online helps you save time and money that you might waste otherwise in following the insurance agent or visiting the insurance company. Also, the online renewal process at InsuranceDekho is so easy that you can do it sitting at the comfort of your home or office and renew the policy within a few minutes.
Health Insurance Calculator
Whom do you want the insurance for ?
Select the age of all members
Where do you live ?
Choose required Coverage for yourself?
Health Insurance Coverage Calculator
Who do you want to insured ?
Age of eldest insured member ?
Where do you live ?
*Tax benefits are subject to changes in Income Tax Act.
Renew Your Health Insurance With
- Niva Bupa Health Insurance
- Care Health Insurance
- Magma HDI Health Insurance
- National Health Insurance
- United India Health Insurance
- New India Health Insurance
- Liberty Health Insurance
- Kotak Mahindra Health Insurance
- IFFCO Tokio Health Insurance
- Cholamandalam MS Health Insurance
- Oriental Health Insurance
- Future Generali Health Insurance
- Digit Health Insurance
- SBI Health Insurance
- Bharti AXA (now ICICI Lombard) Health Insurance
- Reliance Health Insurance
- Tata AIG Health Insurance
- Navi Health Insurance
- Bajaj Allianz Health Insurance
- ICICI Lombard Health Insurance
- Aditya Birla Health Insurance
- Raheja QBE Health Insurance
- Universal Sompo Health Insurance
- Royal Sundaram Health Insurance
- Zuno Health Insurance
- HDFC ERGO Health Insurance
- ManipalCigna Health Insurance
- Star Health Insurance
- Acko Health Insurance
Disclaimer: InsuranceDekho does not endorse, rate or recommend any particular insurance company or insurance plan.
Variety Of Health Insurance Plans
Health Insurance Terminologies
Buy Critical Illness Health Insurance
Learn more about renewal Health Insurance
5 Best Health Insurance Plans in India You Can Buy in 2020Choosing best health insurance policy may save your money during critical medical treatment. From a variety of health insurance plans in the market, choosing the most suitable one for you can be a tiresome task. This article contains details of best healt
Simple Ways To Spend Your Free Time During Corona Virus (COVID-19) LockdownWant to know how to spend time at home during coronavirus lockdown? Here are a few things you can indulge in and utilize your free time in a perfect manner.
Best Health Insurance Companies in Claim SettlementUnderstand the importance of health insurance claim settlement ratio. View list of 10 best health insurance companies with fast claim settlement process.
4 Health Insurance Plans for Pre-existing Disease Coverage in IndiaLooking for health insurance with pre-existing disease coverage? You are at the right place! To uncover your options, continue reading.
Best Dental Insurance Plans You can Buy Online in IndiaPurchasing dental health cover brings along many benefits. Read here to know best plans that offer dental insurance cover in India.
Best Cashless Health Insurance Policies in IndiaBuying cashless health insurance policy is the need of the hour. The article explains 5 best cashless health insurance policies in India. Read here.
Choose Best Health Insurance with OPD Cover TodayWant to save yourself from out-of-pocket medical expenses? Buy health insurance with OPD cover to make the most of your medical investment. To know why and how, read along.
5 Health Insurance Plans With Low Waiting Period for Pre-existing ConditionsCoverage for pre-existing conditions comes with a waiting period. When buying health insurance with PED cover, every individual should look for waiting period to make the ideal choice. To know more, read along.
OPD Expense Coverage: 5 Health Insurance Policies That Cover OPD ExpensesOPD Expense Coverage in Health Insurance Policy: Get to know the key benefits OPD Expense Coverage in health insurance.
Best Senior Citizen Health Insurance Plans in IndiaHealth insurance plans for senior citizens are designed to help seniors during their golden period of life. Read about the 5 best senior citizen health insurance plans here.
Buy Coronavirus Health Insurance Policy
FAQ About Health Insurance Renewal
What are the benefits of renewing your health insurance policy?
The benefits of renewing your health insurance policies are as follows:
- You get much needed financial stability
- You are properly covered against any kind of risk
- You can continue enjoying benefits without any break
- You get access to avail cumulative bonus ( which continues to accumulate for each claim free year)
Why is the advantage of getting my health insurance plan renewed online?
There are various benefits of getting your health insurance policy renewed online including a quick, simple, fair and hassle free process with various payment options offered. Moreover, you are not required to go to a physical location and meet someone, the process is completely digital and can be done even from the comfort of your home.
Does my health insurance plan get renewed on its own?
No, the insurance plans do not get renewed on their own. You are required to renew your existing insurance plan before it expires. Also, in case you forget to get your policy renewed on time, a grace period of 15 days is given after the expiry of the policy, when you can get your policy renewed.
Will my insurance company remind me for renewal before the expiry of my insurance policy?
Yes, generally most of the insurance providers send reminders to their policyholders for renewal of the policy either via text message or e-mail. However, the insurance providers are not obliged to do so, it is solely the responsibility of the policyholder to get their insurance policy renewed on time.
Can I renew my health insurance policy through InsuranceDekho website?
Yes, you can renew your health insurance policy through InsuranceDekho website.
Insurance Dekho Contact Details
Insurance Dekho755 1196 989Mon to Sun 10:00 AM to 7:00 PM
Health Insurance Companies User Reviews
I've had a few health issues in the past and I must say that the Care Health Insurance Plan which I bought fro...Read More
I recently had to file a claim for my HDFC ERGO Health Insurance Plan and I was pleasantly surprised at how fa...Read More
I'm not very tech-savvy, but the InsuarnceDekho has a website that's easy to navigate. I can find all the info...Read More
I travel a lot for work and was worried about finding doctors and hospitals that would accept my health insura...Read More
At InsuarnceDekho, I read about the Star Health Insurance Policy. What I really liked about the policy was tha...Read More
Health Insurance News
World Hypertension Day 2023: Risk Factors For Hype...
Knowing the risk factors for hypertension can help you live ...15 May 2023
Which Company Is Best in Health Insurance?
Want to invest in health insurance? Read this article to fin...10 May 2023
All About International No Diet Day 2023
Listed below are the things you should know about Internatio...04 May 2023
Can a 75-Year-Old Get Health Insurance?
Wondering if a 75-year-old can get health insurance? The ans...03 May 2023
Things To Know About Niva Bupa Health Insurance
Here are some of the things that you should Niva Bupa Health...02 May 2023