Health Insurance Renewal
  • Necessity of Health Insurance Renewal
  • Process for Hassle-Free Renewal
  • Renewing Health Insurance Online
Health Insurance Renewal
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Health Insurance Renewal

Health Insurance Renewal is a yearly obligation for most health insurance holders because health insurance plans are generally a yearly contract between the policyholder and the insurer. Health insurance coverage provides financial security for you and your family in the event of a medical emergency, so it is critical to renew health insurance. While undertaking the process of mediclaim policy renewal, you have the opportunity to review your health insurance plan and re-consider all of your coverage alternatives.

We have compiled a list of all the crucial elements a person should know when renewing their health insurance policy. Continue reading down below.

What is Health Insurance Renewal?

Health insurance plans have an expiration date and must be renewed once they no longer cover you. Health Insurance Renewals essentially refer to an individual's decision to continue receiving coverage from the insurance provider by renewing their health insurance policy within the grace period granted by the health insurer, which can range from 7 to 15 days. Renewal of health insurance policy allows individuals to preserve the continuation of their health insurance coverage. In case policyholders fail to renew their health insurance policy it must be kept in mind that you are no longer protected for medical emergencies or planned hospitalization. Individuals cannot claim health insurance if they are not covered by a health insurance plan, which results in costly medical care.

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What Is Grace Period in Health Insurance Renewal?

The grace period is the time frame granted to customers by various insurance companies during which they can renew their health insurance coverage. If you fail to renew your health insurance coverage by the due date, the insurer will provide you a grace period ranging from 15 to 30 days. If you renew your health insurance policy within the grace period, you will receive several benefits and continue to be covered without any hiccups.

Should I Renew my Health Plan with my Existing Insurer or Choose a New Insurer?

You could renew your Health Plan with your existing Insurer or choose a New Insurer. IRDAI gives you the right to port your policy from an existing Insurance Company to any other Insurance Company of your choice.

While renewal, you have the opportunity to explore other plans & Insurers which could meet your requirements in a better manner. There is also an opportunity to weigh premiums against the benefits you're receiving. Therefore, continuing your policy with your existing Insurance Company or choosing a new Insurer totally depends on the kind of medical requirements that you & your family have.

However, renewing the Health Policy with the existing Insurer offers various benefits such as No Claim Bonus, Waiting Period Benefits, and continuous protection.

Benefits of Health Insurance Renewal

There are multiple reasons for renewing health insurance on time as it offers you the following benefits:

No-claim Bonus Renewal Discounts

When renewing a health insurance policy, the renewal premiums are significantly lower if no claims were made during the preceding policy year. Health Insurance Renewal discounts may differ depending on the insurance company and policy chosen.

Uninterrupted Protection

Many companies do not provide Health Insurance after a certain age due to pre-existing diseases and chronic conditions in old age. To avoid this situation, you should renew your Health Insurance on time and enjoy its benefits your whole life.

Higher Premium

The younger you are at the time of buying the policy, the lower your premiums will be. So, if you renew the policy on time, then you don't have to pay higher premiums because of the higher age.

Avoid Waiting Periods

When an individual purchases a health insurance policy multiple waiting periods are applicable such as:

Initial Waiting Period - 30 Days

Pre-Existing Disease Waiting Period - Varying on Different Policies of either 2 or 4 years

Specific Illness Waiting Period - 2 to 4 Years depending on the policy including conditions like kidney ailments, diabetes, and others.

However, when you renew health insurance online on time it helps you escape from the already served waiting periods and only avail the benefits. In case your health insurance policy expires and you do not renew the policy within the grace period your policy will lapse and you will have to purchase a new policy which translates to serving multiple waiting periods once again.

Continued Coverage

Health insurance renewal assures that medical care coverage continues uninterrupted. If a person forgets to renew their health insurance policy and it lapses, they will have to go through the entire process of purchasing a new health insurance policy and then waiting for all of the waiting periods to be over before they can take advantage of the full potential of the health insurance policy.

Things to remember while renewing Health Insurance

When renewing health insurance, customers must keep these factors in mind:

  1. Renew Within the Grace Period

    The grace period is the time frame set by insurers for clients to renew their health insurance online. The grace period varies depending on the insurance provider, however, it is typically 15 days. It is recommended that you examine the grace period provided by your insurer, as this will allow the customer to review their decision to add or remove any feature that may or may not be suitable for them. Customers' policies will be terminated if they fail to renew on their due date and also fail to renew during the grace period.

  2. Review Your Requirements

    Renewal of health insurance policies allows insurance holders to consider their health insurance features. Addition or removal of coverage, re-calculation of sum assured amount and other things can be adjusted during the renewal process.

  3. Revise your Sum Assured

    You can revise your Sum Assured amount as per your requirements, it can only be done while renewing the policy.

  4. Re-evaluate Terms and Conditions

    While renewing your health insurance policy it is essential to go through the terms and conditions mentioned in the health plan to make an informed decision. However, according to the rules & regulations of IRDAI, the Terms and Conditions will remain unchanged while renewing the policy.

What Happens If You Do Not Renew your Health Policy?

If you don't renew your Health Policy on time, you might face the following problems:

  • Miss out Existing Benefits

    There are many companies that offer various benefits at the time of renewal like No Claim Bonus, Lower Premium, etc, but if you do not renew your policy won't get any of it.

  • Medical Test and Paperwork

    If you buy a new policy rather than renewing an old one, then you have to undergo Medical Tests and the entire paperwork again.

  • Health Coverage Loss

    If you do not renew your Health Policy before its expiry date, you can not avail continuous Health Coverage.

  • No Reduction of Waiting Period

    Pre-Existing Diseases (PED) can only be covered after a Waiting Period. This Waiting Period will be reduced after every renewal. So, If you do not renew your Health Policy, the Waiting Period stipulation will reapply from the start.

Health Insurance Renewal Process

You can renew your policy from the official website of the company or through

I. Through Company's Official Website


Visit the Insurance Company's official website.


Go to the Health Insurance renewal section.


Enter the correct information like policy number and registered mobile number.


Check the premium and policy details.


Make the payment using Credit Card/Debit Card, UPI, and Net banking.

II. Via

Call on our Toll-free number: 1800-4200-269.

Follow the instructions and submit the asked information.

Our experts will get back to you for your policy renewal.

Benefits of Renewing Health Insurance Online

You can renew your Health Insurance policy through online or offline mode as per your convenience. Most companies offer an online renewal facility as it offers various benefits such as:

  • Online mode saves your time as you can renew your policy from any place.
  • It offers various payment options like Net Banking, Debit/Credit cards, UPI, etc.
  • Through online mode, the chances of error are less as the whole information is filled by the policyholder himself/herself.

Health Insurance renewal:FAQs

1. What if I already have a Health Insurance Policy, but I just want to increase my Sum Insured?

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.

2. Do I get a discount on the renewal of the policy with the same company?

Yes, some Insurance companies offer loyalty benefits under which they offer some discount on Renewing the policy from the same company.

3. How will I know when my policy is due for renewal?

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.

4. Is renewal of health insurance policy mandatory?

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.

5. Does the premium increase while health insurance is renewed?

It entirely depends on factors such as enhanced coverage options selected by the customer at the time of renewal or additional riders opted, or if a customer passes a certain age group, etc. Health Insurance Renewal premiums increase or decrease accordingly.

6. What is a grace period in health insurance policy renewal?

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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Naval Goel

Reviewed By: Naval Goel

Naval Goel is the CEO & founder of Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of Insurance Web Aggregator.