Process for Renewing Health Insurance in India

Getting a health insurance policy is a must nowadays when treatment and hospitalisation costs have gone through the roof. A health insurance policy ensures that you get timely financial assistance when you need it the most. However, since most health insurance policies are valid for one year, it is also important to renew your policy before it expires.

Offline Method

If you want to go the old school route, you can always renew your policy by visiting the nearest branch of your health insurance provider. You can also contact them over the phone and ask them to send a representative to your home so that you can process all formalities and make your premium payment.

Online Renewal

If you want to continue having the excellent benefits of your health insurance policy for another year and wish to renew it from the comfort of your home, you can. You just need to follow a few simple steps and voila, your policy will be renewed. In most cases, your insurance company will alert you that your policy is about to expire and provide a link for renewal. If you want to renew it on your own, you can follow these simple steps:

Whenever you want to renew your health plan, you can simply log in to your insurer’s website using a smartphone or laptop. If your insurer has a dedicated app, you can even renew your policy within the app.

Since you already have a policy that is about to expire, you will be asked the policy number and other details like your name and date of birth. Other details may also be asked to authenticate your login.

Once you’re authenticated, you will be redirected to a payment gateway. You can go ahead and pay your premium using Debit Card, Net Banking, UPI or any other payment methods that your insurer accepts.

Once your payment is accepted, your insurer will provide you with a digitally signed copy of the policy certificate. Check the certificate for the correct name, policy expiry date, coverage amount and all such details. Save a soft copy on your computer or you can even print it and keep it for your reference.If your insurer provided you with an insurance card when you first bought the policy, you can continue using the same card after renewing your policy.

In this simple and convenient manner, you can easily renew your health insurance policy and rest assured that your health expenses will be covered for another term. It is always a good idea to renew your policy well before the expiry date or before the end of the 30 day grace period. Failure to do so would mean that your policy would expire and any waiting period that you had already served would lapse and you would also forfeit your no claim bonus. So always remember to renew on time and enjoy the benefits.

The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.