Health Insurance Renewal Online In India 2024

Updated On: 2023-03-29

Author : Team Policybachat

Health Insurance Renewal is a process of converting all your current health insurance policies into new ones. For this, you must submit the policy details and complete your application by following the necessary guidelines.

Health insurance is a contract between an individual and an insurance company. The contract guarantees that the insured individuals are given the cover by the insurance company in case of any medical or health emergencies that might happen to them. It also helps to safeguard their health expenses in these emergencies.

A health insurance plan is usually valid for one year, and you need to renew it upon expiry. It allows you to review coverage and make changes in the health plan as required. Sometimes you may need to change add-ons or adjust the sum insured of the plan as per your changing lifestyle. Once you decide on the coverage, you need to find the most convenient way of renewing the policy. Considering the recent pandemic, the contactless online method seems like the best option.

Why do you need to Renew your Health Insurance Plan?

Renewal of health insurance is important for making sure that the plan is still active and you are covered. Health insurance is a crucial and necessary investment for all of us, and it’s important to make sure we are doing everything we can to protect ourselves and our families. A few months ago, my friend had a health scare, but thankfully he had recently renewed the health insurance policy. Renewing their health insurance policy saved him from having to pay the full amount for the medical treatment that needed.

Health insurance companies and health care providers are constantly changing and upgrading their policies and services. Because of this, it is important to review your coverage every year to make sure you are paying the lowest rates possible while staying up-to-date on the latest changes. Oftentimes these changes may affect your coverage in ways you would not have even thought of.

Every health insurance plan comes with a validity of let's say 1 year, 2 years, or 3 years, after which it needs to be renewed. In case the policy is not renewed on time, then it will get lapsed and the insured individual will lose all the accumulated benefits including NCB, and waiting period benefits too.

How to Renew Health Insurance Policy Online?

Renewing a health insurance policy is just a matter of a few minutes. One can renew a health insurance policy via online or offline mode as per their convenience. Most health insurance companies offer an online renewal facility as it not only saves customers’ time but also offers them flexible payment options. No matter which mode, one must keep health insurance renewal on priority.

While renewing the policy, you can choose to increase the sum insured limit of your policy. But for this, you will be required to pay a higher premium as you would be availing of higher coverage.

The process of buying/renewing a health insurance policy online has become simple with PolicyBachat. For renewing a health insurance plan online please visit our website Following are steps to purchase the health insurance policy online in our portal.

  • Visit the PolicyBachat Website and Select the ‘Health’ tab.
  • Select your ‘Gender’.
  • Select ‘Who do you want to insure’ and their ‘Age’.
  • Enter your ‘Pin code’.
  • Enter your ‘Name’.
  • Enter your ‘Email Address.
  • Then click on ‘Start Saving Money.
  • Premium Quotes of top health insurance plans will be displayed as per data entered by you and which are suits your requirement.
  • You can edit policy details, sum insured value, policy term and you can choose your preferred company
  • Purchase the best health insurance policy using online payment. If need Assistance call: 1800-123-4003.
Offline Mode for Health Insurance Renewal:

The other method of renewing your health insurance policy is by completing the process without the help of the internet or any mobile application. To renew your health insurance policy offline, you need to call our customer care number and speak to the executive. You can ask about additional coverage or different health plans. This will help you get a better health insurance policy instead of simply renewing the existing plan.

  • Call the customer care number: 1800-123-4003.
  • Share required details and understand available plans.
  • Make payment once you are sure about the policy.

Documents Required for Buying/Renewing Health Insurance Plan:

The list of documents depends upon each insurance company and may change slightly as per the process. Here is an indicative list for your reference.

  • Identity proof
  • Age Proof
  • Address proof
  • Previous policy (if applicable)
  • Passport-size photographs
  • Medical history, etc.

Health Insurance Renewal Online Process through the Insurance Company:

Health insurance renewal is an easy process, especially when done online. One can renew their medical insurance policy online through the insurer’s website by following the steps given below:

Step 1: Visit the official website of the insurance company.

Step 2: Go to the health insurance renewal section available on the website.

Step 3: Enter your previous health insurance policy number and registered mobile number.

Step 4: Check the policy details and the policy renewal premium.

Step 5: Make the payment using your credit/debit card or Net banking.

Benefits of Health Insurance Renewal Online:

Health Insurance Coverage: Renewing your health insurance policy on time is important to ensure uninterrupted coverage. If your policy lapses, your medical expenses will not be covered by the insured and you may also lose your No Claim Bonus. Moreover, you need to renew your policy before expiry to get medical coverage even at an age when you are no longer eligible to buy a new policy.

Higher Premium: Health insurance policy should be renewed before expiry to avoid paying a higher premium amount. If your policy lapses, you may have to pay a higher premium to buy a new health policy.

NCB: NCB stands for No Claim Bonus. This is a bonus awarded to you in the form of an increased sum insured for not raising claims in one policy year. Since this is a renewal discount, you will lose it if the policy has a gap. Timely renewals will ensure an intact NCB cycle.

Waiting Period: The waiting period is counted for the active policy years. It will take more than the predefined amount of time to complete the waiting period in case of a lapsed policy. Thus, the timely mediclaim policy renewal ensures that the waiting period is completed as per the plan.

Grace Period: The grace period begins as soon as your policy expires. Remember that you can raise a claim only when the policy is active and not during the grace period. The grace period can last for 15 to 30 days as per the terms of the health plan. In an unfortunate case where you still don't renew the plan, you will lose all the benefits. You then have to buy a new health insurance policy. You may have to pay an additional premium, and the waiting period will reset. Thus, it is advisable to renew health insurance before expiry.

Tips to Consider for Health Insurance Renewal Online:

Here are some tips that will help you make an informed decision when getting your mediclaim insurance policy renewed:

Opt For a Higher Sum Insured: Policyholders get the flexibility to increase the existing sum insured amount at the time of policy renewal. One can opt for a higher sum insured amount after undergoing medical tests and revision of claim history. Note that the policyholder cannot opt for a sum insured option higher than the maximum sum insured option available under a policy. In that case, the policyholder can go for a top-up health insurance policy or a super top-up health insurance policy.

Policy Renewal before Expiry: The policyholder must remember the due date for policy renewal. This is because if he/she fails to renew health insurance on time, the insurance company provides a 15-30 day grace period to pay the due premium. Still, if the premium is not paid during the grace period, then the health insurance policy lapses, and the insured will not be able to avail of accumulated benefits if any.

Tax Benefits: Premiums paid for health insurance policies are subject to tax deductions under Section 80D of the Income Tax Act, 1961. To avail better tax benefits, one can even change the policyholder at the time of renewal.

Disclose New Illnesses at the Time of Renewal: To ensure a smooth claim settlement process in the future, one must be honest with the medical details furnished not only at the time of policy purchase but at the time of renewal too.

Read Policy Documents Carefully: Thoroughly read the policy documents and check for the terms and conditions like renewal clause, exclusions, claim guidelines, etc.

What if Your Health Insurance Renewal Policy Fails in Time?

  • The premium of your new policy may increase.
  • You may have to undergo health screening for the new policy.
  • You would have a lapsed policy if you don't renew for a longer time.
  • You may lose the NCB, and the sum insured will decrease or remain the same even if you did not register a claim during the previous policy period.
  • You may have to serve a longer waiting period. This implies you would be bearing out-of-pocket expenses until the completion of the waiting period.
  • You cannot raise a claim.

Can You Transfer Health Insurance Policy during Renewal?

Yes, you can transfer your health insurance policy to another insurance company at the time of renewal. When you switch over to another health insurance provider, you’re no claim bonus, and waiting periods are also transferred from your previous policy. The waiting period covered under the previous plan is reduced from the waiting period of the new policy. As a result, you only have to spend the remaining waiting period to raise a claim.

A request for insurance portability should be raised at least 45 days before the expiry date of the existing policy. In case of a delay, the new insurance company can reject your portability request.

How to Find the Best Health Insurance Renewal Plan?

Finding a health insurance plan is a difficult task. There are many factors to consider and going through all the plans to find the best one can be a very boring process. You get to read about various health insurance plans from different sources and get confused about which one is the best. Some of them might be better for different people, depending on their requirements.

To make this task easier for us, we have created a health insurance calculator that finds the best health insurance plan for you in seconds! It only requires a few details about our requirements and provides us with an in-depth comparison of all available plans in India in just a click!

Find the best health insurance policy by logging into Compare & Renew Health Insurance Plans avail benefits, coverages, and Add-ons. If need Assistance call: 1800-123-4003.

What are the steps needed for Health Insurance Renewal Coverage?

The following steps are typically required to renew your health insurance coverage:

  • You will need to keep up with your old insurer's deadlines for paying any premium due to maintain your current benefits and coverage.
  • Check if the company you're currently insured with offers a renewal process online and if they do, you may want to consider using it to streamline the process.
  • If possible, get a health insurance plan that contains several network hospitals. So that you can continue seeing them without having to pay out-of-pocket costs for every visit or procedure.
  • When choosing a plan, make sure that it meets your needs and is affordable for you and your family's needs - keep in mind that many plans require pre-existing conditions.

If you are looking for health insurance renewal, you should first assess the different types of plans available. Online Renewal Process for Health Insurance Plans includes Individual Health Plans,

  • Family Floater Health guards
  • Critical Illness Plans
  • Hospital Cash
  • Top-Up Health Plans.

The following are some factors to consider when choosing health insurance:

  • Different types of plans are available
  • Deductible
  • Premiums
  • Co-pays
  • Coinsurance
  • Outpatient care
  • Inpatient care, and many more.

Is age an important factor for an increase in premium during health insurance renewal?

Yes, sometimes age plays a vital role in the premium increase. This can happen if you are crossing a certain age limit if you celebrated your 60th birthday during the policy period and now wish to renew the plan. Here, age would be an important factor.

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