What Are The Documents Required For Health Insurance Renewal?

What happens if I forget to renew my health insurance policy?

Most of the insurance companies offer 15-30 days of time after the expiry of the policy to renew the policy. The grace period is the time where the coverage is not applicable but the exemptions accumulated over a period of time would be safeguarded. If the policy is not renewed during the grace period, then your health insurance policy would lapse and all the exemptions accrued over the past few years would expire. In short if the renewal is not done on time, then it is considered as a new policy and all the other conditions needs to be satisfied before the coverage kicks in.

Can I change from group policy to an individual policy of new India at the time of renewal?

No. Group policy is different in terms and conditions when compared to the individual health insurance policy. Group policy is taken by the employer of a company for his/her employees and the premium is paid by the employer, but in case of individual health insurance policy the premium is to be paid by the insured customer. In short you cannot change from group policy to an individual policy at the time of renewal, but you can purchase a new individual policy at the time of renewal and opt out of group health insurance policy.

How To Pay Star Health Insurance Renewal Online?

This is a guide on how to pay renewal of star health insurance online. The process is simple and all you need to have is a debit card or credit card for the transaction.

Step 1: Visit the official website of PolicyBachat.

Step 2: Click on ‘Renew Online

Step 3: Enter your policy number, date of birth and click on ‘Login’

Step 4: Fill in your debit or credit card details and click ‘Submit’ to complete the transaction.

What Should I do Now I forgot to renew My Health Insurance Policy on Time?

There is a concept of Grace period in every health insurance policy. If you are unable to pay the premium before the expiry date, then the insurance company would give you a grace period of maximum 30 days to pay the health insurance renewal premium. If the premium is paid before the grace period the policy would be in force and all the conditions satisfied under the policy would remain intact. If you do not pay the renewal premium after the expiry of the grace period, the policy would lapse and all the bonuses accumulated would be expired.

What is the Renewal Bonus Available under Niva Bupa Health Insurance Plans?

Max bupa Health Insurance Company offers renewal bonus for customers renewing the health insurance policies. The renewal bonus is given if there is no claim in the previous year. It is also known as No claim bonus which is given at the time of renewal for every claim free year. The maximum renewal bonus that can be offered is 150 % of the basic sum insured available under the policy with a certain percentage for each claim free year. The no claim bonus differs for different health insurance plans.