In today’s sedentary lifestyle, people are prone to developing many ailments at a young age. There has been an increase in the number of lifestyle diseases such as diabetes, heart disorders, and thyroid. Hence, it is becoming essential to avail of as a financial backup. Health cover should be renewed regularly. Mostly medical insurance comes with a policy tenure of 1 year. If not renewed on time, there are chances that the policy can get lapse, and you will not be eligible to avail of any continuity benefits. Most health insurance companies send a notification before informing about the expiry of the health insurance policy.
Listed below are some of the things that you must take care of before renewing your health insurance policy.
- Payment of Premium:As a policyholder, you must pay a premium on time to keep your medical insurance effective. The insurer will provide you with a receipt for the premium.
- Grace Period:If you are not able to renew your health insurance policy due to any reason, the health insurer may offer you a grace period for the payment of premium. You can renew your policy during this period, and you will be eligible to avail of the benefits.
- Evaluate Your Insurance Needs: With the increasing medical costs, an existing policy may not provide you adequate coverage. Hence, it is essential to review your present healthcare needs. Based on your needs, you may choose a higher sum insured or add-on cover with the regular insurance policy.
Final Word
Without having adequate medical insurance, it isn’t easy to manage your healthcare needs. You can buy health insurance online by visiting the company’s official website. Make sure to opt for the right medical insurance that covers you adequately. Your health insurance company will give you a reminder for insurance policy renewal. You must renew your insurance policy if you want to reduce your financial burden in any medical crisis. Health insurance renewal is a simple process that can be done online. If you have opted for an insurance policy from Religare Health Insurance, you can renew your policy by visiting the company’s official website and click on the ‘Renew’ option. If you are opting for the offline mode, you have to visit the insurer’s branch to pay the premium.