Health Insurance Renewal

Health insurance renewals make sure you continue to have insurance coverage for medical costs. It is the act of paying for your health insurance plan on or before its expiry date. Insurers also offer a grace period of an extra 30 days after the due date to make sure you can renew your plan on time.

By performing your medical insurance renewal on time, you prevent your plan from expiring and losing medical coverage. This can result in having to pay all your hospital bills yourself.

To streamline the renewal process, Reliance General Insurance allows you to renew your health plan online in a few simple steps.

Health Insurance Renewal Process

Health insurance plans have start and end dates, which are mentioned in your policy document. Once you reach the end date (the last day to renew health insurance), you will need to renew your policy by paying for next year’s premiums.

Renewing your health insurance plan also gives you the chance to re-check your policy coverage and make changes to your plan if required.

This is also the time to add or remove add-ons under your policy and make use of your No Claim Discount if you did not file any claim the previous policy year.

The health insurance renewal process is quite straightforward and involves these key steps –

Reliance Health Insurance Renewal Online

• Step 1: Visit our Reliance Health Insurance Policy page.​
  
• Step 2: Click on ‘Renew your Health Insurance Policy’.
• Step 3: Provide your mobile number or policy number to proceed to renew medical insurance online.
• Step 4: Review your existing policy and modify it as per your requirements.
• Step 5: Choose a suitable payment method and pay the applicable premium to complete your mediclaim policy renewal online.
  

Documents Required for Reliance Mediclaim Renewal Online

Documents for Renewing Health Plan

• Proof of Identity - Aadhaar Card, Passport, Driving Licence, etc.
• Proof of Address - Aadhaar Card, Ration Card, Passport, etc.
• Health Insurance Policy
• Medical Records, Diagnostic Test Reports, etc.

When to Renew Health Insurance?

A health insurance policy should be renewed before its expiry date to maintain financial coverage.

• What Hap​​pens If I Miss the Renewal Date? - ​

  If you are paying your health insurance premium in instalments, a grace period of 15 days for the health insurance policy renewal will be applicable.

  If you have missed your health policy renewal before its expiry date, you can still renew it within the 30-day grace period your insurance provider offers.​
  

• What Hap​pens During the Grace Period?

  Coverage for medical expenses will not be available during the grace period. However, paying the premium during the grace period will restore coverage.​

Health Insurance Renewal Benefits

• Protects Your Savings - Medical insurance renewal helps protect your savings by ensuring sustained coverage so you don’t have to pay for your healthcare requirements out of pocket.
• Provides Continuous Health Insurance Coverage - Timely health insurance policy renewal ensures you maintain coverage for medical expenses, such as hospitalisation, pre- and post-hospitalisation, daycare treatments, critical illnesses, etc.
• Offers Discounts or Cumulative Bonuses - By ensuring timely health insurance policy renewal, you can benefit from discounts or cumulative bonuses that can help you save on premiums.
• Ensures Uninterrupted Coverage - Renewing health insurance on time helps you avoid a break in your policy and builds trust in your policy journey. This can help you claim additional benefits in the future.
• Modify Existing Coverage - On renewal, you can modify your plan by enhancing the coverage and including optional add-ons. It helps ensure adequate coverage based on your changing healthcare requirements.

Types of Health Insurance Renewal Options

Grace Period Benefits of Renewing Health Plan

• Option to Renew Health Insurance - If you have not renewed your health insurance policy within the expiry date, the grace period provides the option to renew and prevent the loss of coverage.
• Retains your Accumulated Benefits - If you renew your health coverage within the grace period, you can retain the accumulated benefits, such as the cumulative bonus and waiting period credits.
• Flexibility on Medical Insurance Renewal - The grace period starts immediately after the expiry date and can range between 15 and 30 days, depending on your health insurance policy conditions.
• Avoids Policy Cancellation - If you renew the health plan within the grace period, you can prevent the policy from being cancelled.
• Avoids Purchasing a New Policy at a Higher Premium - If the policy gets cancelled, you have to purchase a new policy at a higher premium and start your waiting period(s) all over again.

Factors to Consider Before Health Insurance Renewal

• Your Health Insurance Requirements - Consider your current health condition and potential health risks to revise your health insurance coverage.
• Sum Insured and Additional Benefits - Modify your existing health insurance policy by enhancing the sum insured and opt for additional benefits if you need them.
• Upgrade your Policy - Instead of modifying the existing coverage, you can upgrade to a new policy to benefit from enhanced coverage and a discount on health insurance renewal.
• Compare Premium Quotes - As you renew your policy, you can compare the premium quotes and the health insurance renewal offers for the different options and make a wise decision.
• Understand Renewal Terms and Conditions - Be aware of the mediclaim policy renewal terms and conditions to avoid discrepancies later.
• Health Insurance Portability - If you are not satisfied with your insurer’s coverage benefits or service, you can consider switching your policy to a different insurer before the health insurance renewal date.

Can You Transfer Health Insurance Policy During Renewal?

Yes, you can transfer your health insurance policy to a different insurance provider at the time of renewal. It is referred to as health insurance portability.

Documents Required for Health Insurance Portability

• Proof of Identity and Address
• The IRDAI Portability Form
• Portability Proposal Form
• Health Insurance Policy
• Medical Records
• Claims History, if applicable

How is Health Insurance Portability Beneficial?

You can retain the accumulated benefits, such as the cumulative bonus and waiting periods completed.

When Should You Notify for Health Insurance Portability?

At the time of medical insurance renewal by informing both your previous and current insurer at least 45 days before the renewal date.

Why Should You Consider Health Insurance Portability?

You can consider health insurance portability to renew health coverage for various reasons.

For instance, if you are not satisfied with the services your current insurer provides, you can transfer your health plan along with any accumulated benefits to a new provider of your choice during renewals.

Checking Coverage Changes in Renewal

Look out for Notifications

If there is a change in the policy terms and conditions, it will be notified to you over a call or on your registered email address. Review such changes and assess how they can affect your requirements and make the necessary changes while renewing medical insurance online.

Compare New Health Insurance Products

Since your last renewal, many new health insurance policies may have been introduced. Take the time to explore the new products and compare their features and premium quotes to seek coverage that offers better value for your money.

Seek Customer Support

If you want to get detailed information on the change in policy coverage or new policies introduced, you can connect with the customer support team. They can address your concerns and help renew health coverage.

What Happens When You Fail to Renew a Health Insurance Policy On Time?

• Your Policy Will Get Cancelled - If you fail to renew your health plan before its expiry date or during the grace period, it will get cancelled.
• You Cannot Raise a Claim - If you miss the last day to renew your health insurance policy, you will not be able to file claims or access policy benefits.
• You Will Lose the Benefits Earned - If you have accumulated benefits such as a cumulative bonus or completed part of your waiting period, failing to renew on time will result in the loss of all these advantages.
• Pay a Higher Premium - If you miss your health insurance renewal date and if the policy expires, you need to get a new policy, which can be more expensive
• Undergo Medical Examination - If you fail to renew health coverage, you may have to undergo a medical examination to purchase a new policy.

Tips for a Smooth Health Insurance Renewal Process

• Set a reminder on your mobile phone for the health insurance card renewal well before the expiry date.
• Review your health insurance requirements, compare the different solutions and choose suitable coverage before the renewal date to avoid last-minute hassles.
• You might ignore our notification call on renewing your health policy, thinking it is a spam call. To prevent this, install apps that help identify genuine callers.
• Review your email regularly to stay updated on policy changes, renewal notifications and discounts on health insurance renewal.
• Please contact customer care for a briefing on any changes in policy terms and conditions since your last renewal so that you can make well-informed decisions.
• Prefer online mediclaim policy renewal as it is simple and takes only a few minutes.

Frequently Asked Questions About Health Insurance Renewal

1. Is automatic renewal available for my policy?

   You will need to check with your insurer on if they offer this service. Sometimes a manual process may be better if you want to reassess your coverage and explore new options for your changing healthcare needs.

2. Will my premiums increase at renewal?

   Yes, health insurance premiums increase at the time of renewal. It is based on many factors, such as your age, changes in the health insurance policy coverage, medical inflation and optional covers included.

   In addition, if you upgrade to a comprehensive health insurance policy, the cost will increase accordingly depending on the enhanced coverage benefits.

3. Can I renew my health insurance online before its expiry?

   Yes, you can renew your health insurance online before the actual expiration date.

4. Do I need a medical check-up every time I renew my health insurance policy?

   No, a medical check-up is not mandatory at the time of health insurance policy renewal. However, it is subject to certain personal circumstances. For example, if you attain a certain age or upgrade to enhanced health insurance coverage, you may be asked to undergo a medical examination.

5. Can I renew my health insurance policy after the due date?

   Yes, you can renew your health insurance policy after the due date during the grace period. Depending on your policy, a grace period of 15 to 30 days will be provided to renew your health insurance plan.

6. What happens if I fail to renew my health insurance during the grace period?

   If you fail to renew your health insurance policy during the grace period, it will be cancelled, and you will lose coverage and all the benefits earned. You will have to purchase a new health insurance policy at a higher premium and start accumulating the benefits from scratch, such as waiting period credits and cumulative bonuses.

7. Can I restore a lapsed or cancelled health insurance plan?

   You can restore a cancelled health insurance policy by contacting us to reinstate your specific health insurance policy. It will be subject to our review and the policy’s terms and conditions.

8. Can I change my coverage during renewal?

   Yes, you can change your coverage during renewal by opting for enhanced coverage or upgrading your policy for better coverage and benefits.

9. Is it safe to renew health insurance online?

   Yes, it is safe to renew health insurance online. We extend a transparent and a reliable platform to renew health insurance online in a few simple steps.

10. What is the validity of health insurance?

    Health insurance plans can be purchased for a period of 1 year, 2 years or 3 years.

11. What is the health insurance policy renewal date?

    Health insurance policy renewal date refers to the date on which the health insurance policy needs to be renewed.

12. What are the benefits of renewing a health insurance policy online?
    1. Renewing health insurance online is convenient and less time-consuming.
    2. You can compare the different products, review the policy changes, and make wise decisions in a few simple steps.
    3. The online renewal process is user-friendly and economical.
    4. You can renew your health insurance online and get instant confirmation.
13. Can I reduce my health insurance premium during renewal?

    Yes, you can reduce your health insurance premium during renewal in the following ways:

    1. Choosing only the necessary additional covers required
    2. Looking out for discounts to reduce the premium, such as for long-term policy periods, maintaining a healthy lifestyle
    3. Rene​wing health insurance online​