The National Insurance Company of India Limited is the country's oldest general insurance firm. It was founded on December 5, 1906, in Kolkata, West Bengal, to fulfill the nationalist dream of Swaraj. After the General Insurance Business Nationalization Act was passed in 1972, it was merged with 21 foreign and 11 Indian firms to establish National Insurance Company Limited, one of the four subsidiaries of the General Insurance Corporation of India, which is fully controlled by the Indian government.
Lets discuss the National insurance mediclaim renewal in detail.
You can renew your national insurance health policy via online and offline medium. The steps to renew your health insurance plan with National Insurance online are as follow:
Visit the Website
Visit the National Insurance official website and click on the 'Quick Renewal' tab.
Enter Relevant Details
Enter the required information such as policy number, date of birth, captcha answer and click on 'Renew Policy'.
Review the Policy Details
Review the policy details and you can change it as per your requirements like modify sum insured amount, opt for an additional rider, etc.
Make the online payment to renew your national health insurance policy from the available payment gateways.
You will get the confirmation on your registered e-mail address about the successful renewal of the policy.
If you are unable to renew your insurance online, you can either go to your nearest National Health Insurance branch and renew your policy there, or you can call National Health Insurance customer care to renew your policy. Moreover, our professionals at PolicyX.com can also help with your National Health Insurance Renewal.
For any further queries, you can call on no. 22831705.
What Happens If You Do Not Renew Your National Health Insurance Policy on Time?
Renew your National Health Insurance to avail continious coverage at the time of medical emergencies. You may face the following issues if you forget to renew your National Health Insurance Policy even after the grace period:
You will not receive additional benefits such as a No Claim Bonus, discounted Premium, etc.
You will lose the renewal benefits of your existing health insurance plan, if you forget to renew your policy on time, even after the grace period.
You need to serve the whole waiting period again if you do not renew your health insurance policy on time.
You'll need to purchase a new health insurance plan and repeat the entire document verification process again.
You need to go through the pre-medical test again.
You cannot raise a claim during the grace period.
Grace Period Offered by National Health Insurance
The insurance companies give you a grace period during which you can pay your pending premium and keep your health insurance coverage. The grace period varies from an insurer to insurer and plan to plan. The majority of health insurance companies offer a grace period of 7 to 30 days. So, have a look at your policy documents and see if your health insurance provider offers a grace period. If your policy is still within the grace period, you can pay the premium and enjoy your health insurance coverage.
How to Avoid Lapse of National Health Insurance Policy
Below mentioned are the tips that can be helpful for you to avoid the revival of a lapsed policy:
Track the important dates of your health insurance policy.
Automatic ECS of payments.
Set reminders for the premium payments.
Always get in touch with your policy relationship manager.
Always check the latest notifications from the insurance company.
Try maintaining sufficient balance in your bank account on the due date.
Things to Remember at the Time of National Health Insurance Renewal
Before your health insurance policy expires, make sure you renew it. When you renew your policy on time, you'll have continuous coverage at discounted premiums. While renewing your plan, below mentioned are the few things to keep in mind:
Check the policy terms & conditions.
Check your policy coverage for consumables such as PPE kits.
Add additional riders as per your needs.
Always check the coverage benefits at the time of renewal.
Renewing your health insurance before its expiry date or the 30-day grace period is always a good idea. But, if you fail to do so, it will lead to the lapse of your policy, restart of the waiting period that you have already completed, and the loss of no claim bonus benefit. So, Always renew your policy on time and enjoy the continuous coverage.
Naval Goel is the CEO & founder of PolicyX.com. 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 PolicyX.com Insurance Web Aggregator.