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

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.

How to renew bajaj allianz health insurance online?

To renew your Bajaj Allianz health insurance, visit their official website and click on the ‘Renew’ tab. Enter your policy number or registered mobile number to view your renewal notice. You can choose to add or remove members and select any available add-ons during this process. After confirming the details, pay the premium using a credit card, debit card, or net banking. The renewed policy document will be sent to your registered email address immediately.

How to renew apollo munich health insurance online?

Apollo Munich policies are now serviced by HDFC ERGO following their merger. To renew, visit the HDFC ERGO website and go to the ‘Renewal’ section. Enter your existing Apollo Munich policy number to fetch your details. You can review the coverage, update member info, and pay the premium using secure digital methods. Upon successful payment, the renewed policy document is instantly available for download. Ensure renewal before the expiry date to avoid losing continuity benefits.

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.