Health Insurance Plans

pays for your hospital bills for diagnostics, surgery etc.

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How to renew your mediclaim?

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If you are a smart Health Insurance policyholder, you definitely must be aware of all the knicks and knacks of balancing the policy, managing it and dealing with specific legal needs. Once a person buys a plan, there are two things which become relevant for him to be aware of – how to ensure a successful Claim and the when and how of renewing the mediclaim.

If you are a super smart buyer and want to enjoy its long Term benefits, then you need to pay special attention to the renewal of Mediclaim policy. The process is as important as paying premiums on time.

The first and foremost thing that a buyer must do is to remember the renewal date from the very first day he purchases a health insurance policy. He can do this by registering the date in his mobile as a reminder, in the outlook in his office, or even setting up the reminder by filling up his details on the insurance company’s website. Most of the insurance companies also offer the facility to send reminders for Policy renewal. You can ask for your insurance agent’s assurance to send you a reminder a few days before the renewal date arrives. Whichever way you adopt you must renew your mediclaim policy in time.

Renew your policy online:

Even if don’t want to stick with one, you can simply renew your policy online. Technology has enhanced the reach and comfort levels for the customers. It is simple to enter to the authenticated website of the company and follow the instructions during the renewal process. The online customer support can assist you through any confusion, which is really beneficial deal for you. It saves time and renews your health benefits.

Consequences of not renewing the policy on time

The reasons why should you never overlook renewing a health policy:

  • If your policy lapses because of no renewal on time, you will have to purchase a new one. This increases the Premium prices, which you are indebted to pay for enjoying health cover benefits
  • Not renewing the policy on time can create problems related to coverages. The company may not treat your insurance claim for any disease by declaring it a Pre-existing disease. The company covers pre-existing disease if you have been making the renewal of your policy on a timely basis
  • If you don’t renew your mediclaim policy on time, you can miss the no-claim Bonus and additional benefits designed for you.
  • Hence, it is always suggested to stay updated about the policy renewal date. The modern age gadgets such as mobile phones, digital reminders, pocket PCs and tablet PCs etc. can help you in this regard. Though, company provides you with a Grace Period for renewal but it is not liable to send you reminders for renewal. It is also a good habit to maintain records for the health cover renewal from time to time.