Lifelong renewability in health insurance

What Is Lifelong Renewability In Health Insurance – Edelweiss General Insurance Blog

19th July 2022 8min read 105 views

According to statistics, the annual rate of hospitalisation increased from 16.6 per 1000 in 1996 to 37 per 1000 in 2014. In May 2022, India recorded medical inflation at 14%, the highest in Asia. These numbers make it clear that everybody needs a health plan. 
Health insurance provides financial stability during a hospitalisation. It enables you to get good care without worrying about mounting medical bills. Most health insurance companies offer policies with age restrictions. Individuals over a certain age cannot purchase a new policy or renew health insurance plans either. The Insurance Regulatory and Development Authority of India (IRDAI) stipulates that every insurance company must offer health policies with lifetime renewability. Let’s understand what this means.

What Is Lifelong Renewability for Medical Insurance Plans?

Lifetime renewability refers to a particular clause of your health insurance policy. It allows you to renew medical insurance plans without requalifying. Let’s look at the case of Akshay. He purchases a health policy at the age of 45. He doesn’t make any claims and dutifully completes his Mediclaim renewal every year for ten years. When he’s 56, he files a claim against his policy for surgery after an accident. His insurance company settles the claim, and he continues to renew the plan for the rest of his life. The insurance company cannot deny his renewal request without a legitimate reason that they must provide in writing.

The Benefit of Lifelong Renewability

Lifelong renewability especially helps individuals deal with medical problems as they become older. Many people face health issues that lead to hospitalisations later in life. Assume Akshay retires when he turns 65. After a few years, he has a fall that results in broken ribs. His doctor recommends recovering in the hospital for a few days. He doesn’t worry about the cost of his hospital stay because he has lifelong renewability. His insurance plan will take care of that, and he can focus on recovering.

Choosing Health Insurance with Lifelong Renewability

To enjoy continued protection under a health policy, you should purchase a plan when you’re young and healthy. Ensure you pick a policy that allows you to renew health insurance for life. While browsing for a health policy, ensure you do adequate research. Compare the various plans available within your budget. Check the fine print and look for any age-related cut-offs. Opt for policies that mention lifelong renewability or guaranteed renewability. These plans allow you to receive coverage for the rest of your life, irrespective of age.


Lifelong renewability helps provide health coverage to people for as long as they live. To utilise the offering, you must renew medical insurance policies on time. You can quickly renew health insurance online within a few moments. If you don’t have health coverage yet, you should consider purchasing a policy soon. Visit the Edelweiss General Insurance website to find a health policy that meets your unique needs. Remember to find plans that offer lifelong renewability for a carefree retirement.

https://bmjopen.bmj.com/content/7/12/e014188
https://www.livemint.com/companies/news/indias-medical-inflation-in-2021-highest-among-asian-countries-report-11651741733444.html

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