Renewing Health Insurance - What Should You Know?
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Renewing Health Insurance - What Should You Know?

Once you have purchased health insurance coverage and even before purchasing, it is better to get a clear understanding about two important points. First is about renewal of the policy and second is the terms and conditions associated with claiming process. Due to the ignorance of the policyholders, most of them are deprived of the continuation benefits and also they are forced to start a new policy either with the same insurance company or with some other company.

Policy period:

Most of the insurance policies are generally offered for a period of one year after which it is important that you will have to renew them. Even though, insurance companies send renewal reminder, it becomes your responsibility to renew the policy on time. This will ensure that you can get the benefits associated with continuing the policy. Some of these benefits include no claim bonus accumulation or waiting periods for the disease that already exist. If you do not renew within the time, the policy will lapse and you will no longer be eligible for continuation benefits.

To make sure that you are not deprived of the renewal benefits, it is suggested that you should get an understanding of the facts mentioned below, so that you can stay in a better position:

Health updates:

Generally, insurance companies request their health insurance policyholders to update any change that happened in their health condition recently. In addition, if you intend to close the policy, it is important that you will have to make a formal request for the same at least 30 days in advance and this should be done before the expiration date of the policy.

Premium payments:

To keep the health insurance policy going and for getting the benefits promised by the policy, you should pay the premium on date. Also, it is important that you should keep the receipt of the premium payment safe as the proof towards using the benefits associated with the plan.

Grace period:

If you have not renewed the policy on time, most of the insurance companies provide a grace period of about 15 days for the payment of renewal premium.

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Once you have purchased health insurance coverage and even before purchasing, it is better to get a clear understanding about two important points. First is about renewal of the policy and second is the terms and conditions associated with claiming process. Due to the ignorance of the policyholders, most of them are deprived of the continuation benefits and also they are forced to start a new policy either with the same insurance company or with some other company.

If you have not renewed the policy on time, most of the insurance companies provide a grace period of about 15 days for the payment of renewal premium. If you renew the policy within the grace period, you will become eligible for continuation benefits as the policy will become valid.

Policy portability:

At the time of renewal, you can choose to upgrade the coverage for better benefits and even you can switch to a new service provider without having the requirement to lose the continuation benefits. However, you should not forget to inform about the same to the existing insurance company at least 45 days before the date of expiration of the policy.

Points to remember:

As the policyholder, it is important that you will have to remember certain other things as well to make sure that you can get the benefits as promised by the insurance company:

• Generally, the insurance companies do not encourage any claims for the period between policy expiration and renewal. If you do not pay the renewal premium before the stipulated grace period, the policy will not continue.

• If you are denied of renewal, you have the right to seek explanation for the same.

• If you opt for portability, you will be regulated to be eligible for continuation benefits from the existing policy.

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Comments

# Jayesh 2019-07-20
Hello, I am from Kancheepuram, PLz suggest some biochemic remedies for gonorrhoea .
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# Dr. Pooja 2019-07-21
Kali Mur, Natrum Mur, Natrum Sulph, and silicea are few important biochemic emedies in homoeopathy which can be used safely in this case, you can also take advise from gynecologist given here-Gynecologist in Kancheepuram.
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# Himmat 2019-07-06
Hello, plz let me know What is menarche, I want to consult with gynec in Cachar, plz suggest ?
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# Dr. Pooja 2019-07-07
the process of starting of the menstrual cycle in females is called menarche, plz find good Gynecologist in Cachar.
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# Vaibhav 2019-06-15
Hello, plz let me know What is menarche, I want to consult with gynec in Nagpur, plz suggest ?
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# Dr. Naresh 2019-06-16
the process of starting of the menstrual cycle in females is called menarche, plz find good Gynecologist in Nagpur.
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# Tushar 2019-06-08
Hii, plz tell me,Which tests can confirm syphilis in primary stage, also suggest name of good maternity hospitals in Erode ?
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# Dr. Naresh 2019-06-09
During the primary stage,DG illumination tests are very helpful, find good maternity hospitals-Senthil Multi Speciality Hospital ; KMCH Perundurai Centre.
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# Aarush 2019-06-01
Hello, plz let me know What is menarche, I want to consult with gynec in Dhaulpur, plz suggest ?
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# Dr. Naresh 2019-06-02
the process of starting of the menstrual cycle in females is called menarche, plz find good Gynecologist in Dhaulpur.
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# Aarav 2019-06-01
Hello, plz let me know Can gonorrhoea be transmitted to small children, should I consult with good maternity doctor in Uttarkashi
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# Dr. Naresh 2019-06-02
yes,this can be transmitted by infected mothers to children, In this case it is called as ophthalmia neonatorum, find list of good doctor-.Obstetrician in Uttarkashi
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# Nishith 2019-06-01
Hii, I am from Tumkur, can you plz tell me What is the mode of infection in syphilis ?
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# Dr. Pooja 2019-06-02
90 percent cases in syphilis are transmitted through unsafe sexual contacts, Mothers can also pass infection through breast milk, you can also consult with good Gynecologist in Tumkur .
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# Aarush 2019-05-11
Hii, plz tell me,Which tests can confirm syphilis in primary stage, also suggest name of good maternity hospitals in Yamuna Nagar ?
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# Dr. Pooja 2019-05-12
During the primary stage,DG illumination tests are very helpful, find good maternity hospitals-Kapil Hospital and Maternity Home.
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# Aarav 2019-05-11
Hii, I am from Bhopal, can you plz tell me What is the mode of infection in syphilis ?
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# Dr. Pooja 2019-05-12
90 percent cases in syphilis are transmitted through unsafe sexual contacts, Mothers can also pass infection through breast milk, you can also consult with good Gynecologist in Bhopal .
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# Aarav 2019-05-11
Hi, plz let me know What is the incubation period of Syphilis, also give me the list of good female's specialist in ?
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# Dr. Pooja 2019-05-12
Hii, The incubation period can be 10 to 90 days, plz find list of Gynecologist in
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