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Step by Step Guide to Renew Health Insurance Plans

After much consideration, you have bought a good health insurance plan for your family. This ensures that you and your family are covered in case of medical emergencies and expenditures.

However, merely buying health insurance plans for your family is not enough; you also need to make sure that you renew these plans on time.

Why Renew your Health Insurance Policy?
It doesn’t take a genius to figure out that after your policy expires so does the medical cover that comes with it. Most policies expire after a gap of one, two or three years. You need to renew your policy to avail further additional benefits. After a renewal at the right time ensures you do not lose out on the continuity benefits that come with a health cover.

Procedure to Renew your Health Insurance Policy
  • Online Mode: Choosing to renew family health insurance online helps you carry out the entire process in a successful manner, even as you sit in the comfort of your home. Simply fill up the required details in a step-by-step manner and your policy is renewed within a few minutes.
  • Offline Mode: You need to visit the insurer’s branch to pay the premiums. You can also have an agent collect the premium amount in the form of a cheque. Do not give cash to the agent and see that the cheque is issued in the insurance company’s name.
Step by Step Guide for Online Policy Renewal

In the offline mode, the insurer or the agent will handle all the requirements. In the online mode however, you need to perform the following procedure. However, before you do, remember to compare policies on aggregator sites such as Paybima to check out policies and plans available to know you are getting the best possible cover available in the market.

Step 1: Log into the Website of the Insurer

Log into your insurer’s website and click on the ‘renewal’ link you notice on the website. You will then be redirected to a page where you can conduct the renewal process.

Step 2: Enter your Required Details

Enter the policy details such as the policy number, the insured’s date of birth and other details. Sometimes, you may be required to login through your policy number or member ID.

Step 3: Making the Premium Payment

After you have correctly inserted your policy credentials, you are directed to a payment gateway. You can make your premium payment either through net banking or through your credit/debit card.

Step 4: Renewal of your Policy

On authorization of the payment, you obtain a digitally signed copy of the renewed policy where all the details of the policy and the coverage available is mentioned. You can easily take a printout of the policy document and store it for your keepsake.

After the policy is renewed, you get a password and username. This ensures you can check your policy details available on the insurer’s website whenever you want.

You need to renew family health insurance before it expires. Your insurance company may send you a notice to remind you to do so but ultimately it is your responsibility to carry this out in a timely manner or else you will lose out on the benefits when you need them the most.

Health insurance plans for family are important but renewing them on time is even more essential.
Step by Step Guide to Renew Health Insurance Plans Step by Step Guide to Renew Health Insurance Plans Reviewed by Dhanur Chauhan on 5:22 PM Rating: 5