Benefits of Health Insurance Policy Renewal before Expiry date

Renew on time, and make your benefits work overtime!
It makes a lot of sense to renew your policy before the expiry date. First of all, you enjoy continuity benefits - you don't have to go through waiting periods again, nor do you lose the PED cover. You don't need to get a medical check-up, either. And if you complete 8 non-stop years of your policy, no claim you make can be contested!

Grace Period Benefits during Health Insurance Renewal

Missed the last date to renew? Race for it, and do so with grace!
Although it's best to renew before the last date, you have an additional 30 days - this is called the Grace Period - to renew your policy after the expiry date. If you do renew within these 30 days, you will still enjoy the continuity benefits of your policy. However, no claim can be paid during the period for which the premium is not paid. 

Health Insurance Renewal FAQs

 

Can health insurance be renewed?

Yes, for as long as you want. You can make this your lifetime cover.
 

What does 'renewal' of health insurance mean?

Renewal means choosing to continue with your policy even beyond the expiry date, and enjoying all its benefits without any of the exclusions or waiting periods you would experience with a brand-new policy.
 

How do I renew lapsed health insurance?

Even if you miss the renewal date, you can still renew your lapsed health policy within the 30-day Grace Period .
 

What happens when health insurance expires?

If you miss the last date, and don't take advantage of the 30-day Grace Period that follows, you stand to lose all the benefits of your policy, a nd cannot claim any medical expenses. You then need to buy a totally new policy.
 

Can I renew medical insurance after expiry?

Yes you can, during the 30-day Grace Period, but it is always better to renew before the last date.
 

What is the Grace Period to renew health insurance?

The Grace Period is the period of time immediately after the premium due date, during which a late payment can be made to renew or continue a policy, without any loss of continuity benefits such as waiting periods and coverage of pre-existing diseases. However, no health cover can be provided for the period when the premium is not paid.

 

Is health insurance renewed every year?

It is usually renewed every year, but you also have the option of buying it for 2 or 3 years at a stretch, so no yearly tension about renewal!
 

How does health insurance renewal work?

Quite simply, you have to pay the premium before the policy expiry date, or during the Grace Period, and your policy - with all its benefits - gets renewed.
 

What is lifetime renewal in health insurance?

It means that an existing policyholder can renew the policy all their life, regardless of age or any previous claims made.
 

Can I renew health insurance after the Grace Period?

Unfortunately, no. You'll have to buy a new policy, which has all the waiting periods and exclusions, and may even need you to get a Medical once again.