Quick renewal process
Steps for policy renewal
Grace period
Simran has over 4 years of experience in content marketing, insurance, and healthcare sectors. Her motto is to make health and term insurance simple for our readers has proven to make insurance lingos simple and easy to understand by our readers.
Anchita has over 6 years of experience in content marketing, insurance, and healthcare sectors. Her motto to make health and term insurance simple for our readers has proven to make insurance lingos simple and easy to understand by our readers.
Updated on Jun 30, 2025 6 min read
Health insurance renewal is necessary before the expiry of your mediclaim policy. You must be aware of the fact that the validity of a health insurance plan is usually 1 to 3 years. After this, you need to renew the policy to continue the benefits. Now the question comes
Health insurance renewal is the process of extending your existing health insurance policy to maintain continuous coverage.
Akash was rushed to a hospital due to an accident. Akash was a family floater policyholder and had a policyholder card, purchased in 2022.
However, after a week, when Akash was discharged from the hospital, the bill was not settled by their health insurer. Upon further inquiry, Akash’s family discovered that their family floater health plan had lapsed.
The explanation is simple: The claim was rejected due to a missing timely health insurance renewal. This small mistake led to Akash paying the entire hospital bill out of pocket.
Health Insurance renewal is the process of enjoying continued health insurance benefits without any breaks. Your health plan can be renewed online via simple steps specified by your insurer.
Health insurance policy renewal is a simple process. Follow the steps as mentioned below:
You can renew your health insurance policy online or offline at your convenience. Most companies offer an online renewal facility as it offers various benefits such as:
POV- In essence, online health insurance renewal streamlines the process, making it more accessible, efficient, and user-friendly for the policyholders.
When we talk about the ’grace period’ in health insurance renewal, it refers to a designated timeframe after the policy’s due date. In this timeframe, you can still pay your premium without your coverage lapsing. It provides a safety net for policyholders who might miss their renewal payment due date due to unforeseen circumstances. It helps prevent gaps in coverage, ensuring continuous protection against medical expenses.
Renewing your health insurance within the expiry date is crucial for maintaining uninterrupted coverage and avoiding potential financial risks. Here’s a breakdown of the key benefits:
These are some common consequences you will face if you fail to renew your health insurance policy:
Consequences | How It Will Affect You? |
Your Claim Will Be Rejected | You will have to pay the hospital bill out of your pocket at times of health emergencies. |
Re-serving waiting period | You will have to serve the waiting periods mentioned in the policy schedule on repurchase of a health plan |
Losing no-claim bonus | The no-claim bonus you accumulated during the policy period will be lost if you miss timely renewals |
Health check-ups | You will have to undergo a pre-policy check-up increasing chances of higher premium prices. |
When renewing your health insurance, it’s essential to be thorough and consider several key factors to ensure your coverage continues to meet your needs. Here’s a breakdown of important things to remember:
POV- By keeping these points in mind, you can make informed decisions and ensure your health insurance continues to provide adequate protection.
Your health insurance renewal isn’t just a formality; it’s a critical step in safeguarding your financial and physical well-being. By understanding the process, leveraging the convenience of online platforms, and diligently reviewing your policy, you can ensure continuous coverage. Also, retain valuable benefits and avoid the potentially devastating consequences of a lapse. Remember, a timely renewal is an investment in your peace of mind, allowing you to face life’s uncertainties with confidence, knowing you’re protected.
For more information about renewing your health policy, ask our Xpert Advisors.
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Yes, it is mandatory to renew health plans if you wish to enjoy uninterrupted medical care from your insurance provider.
No, health insurance renewal is done via online or offline methods. Your health insurer will inform you about your health insurance renewal due date well in advance. This will help you with your timely health insurance renewals.
No, you are not eligible to port or change your health insurance provider before the time of health insurance renewal.
Health insurance renewals are scheduled at the same time as your policy tenure. If you have invested in a health plan for 1 year, policy renewal will be scheduled at the same time for continued benefit.
The grace period refers to the number of days you are entitled to after surpassing your renewal period. It varies from insurer to insurer and at times, from policy to policy.
If you already have a Health Insurance plan but want to extend your Sum Insured, you can do it at the time of renewal of the policy.
Yes, some Insurance companies offer loyalty benefits under which they offer some discount on Renewing the policy from the same company.
The Insurance Company will send you renewal reminders on your registered mobile number/e-mail address or you can check the policy expiry date on the hard copy of your policy documents.
No, but if you want to enjoy your health insurance coverage and renewal discounts with additional features then it is essential to timely renew your health insurance policy.
It entirely depends on factors such as enhanced coverage options
The grace period is the time frame granted to customers by various insurance companies during which they can renew their health insurance coverage. The insurer will provide you with a grace period ranging from 15 to 30 days depending on the insurance provider.
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Simran has over 4 years of experience in content marketing, insurance, and healthcare sectors. Her motto is to make health and term insurance simple for our readers has proven to make insurance lingos simple and easy to understand by our readers.
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