Is there any benefit if I renew my health policy on time?It will definately pay to renew your health policy in time. Read more to find out why.
Apnainsurance.com Research Bureau
05 Dec 2007
If you have already made a claim on your health insurance policy, it is highly advisable that you are punctual about your renewal. If you miss your renewal date, your previous claim will be considered as a pre-existing disease/illness, increasing your premium for the new policy.
Even if you have not made a claim but have registered a pre-existing disease/illness, you would be covered for the same after three or four years from the date of commencement. Again, this would be possible only if you renew the insurance policy on time each year.
Further, for each claim free year, a bonus of five per cent is added to your sum insured subject to a limit of 50 percent. After four or five continuous renewals, you are entitled to a free medical check-up.
What are the medical check-ups that we need to undergo? Who bears the cost?
What are the factors that determine the premium payable for a health insurance plan?
Do I receive a discount if I buy the policy for my entire family together?
Miscellaneous health insurance FAQs
Health Insurance FAQs about Coverage
Health Insurance FAQs about Claims
Health Insurance FAQs about Premiums