Every household looks to save money irrespective of the rising expenses which it has to be cope up every month. Medical expenses can be unforeseen, emergency hospitalization can have an impact on the savings of the family. Purchasing a health insurance policy act as a cover against such policies. You can opt for life insurance premium online payment in ensuring that the policy is up to date. For an uninterrupted disruption of policies, the premium has to be paid on a timely basis.
Health insurance premium online renewal
By following the procedure of renewing a health policy online it is a hassle-free process, and the following steps are to be followed
- Intimation- the holder of a policy should intimate the customer service team and has to raise a request for health insurance. The policy has to be renewed within the specific time frame so that it does not lapse.
- Relevant details are to be provided- it is necessary for a policy holder to be providing complete details, include the policy number, the name on the policy or are they planning to opt for a higher sum as insured.
- Secure payment- It is possible to renew a health insurance policy by digital mode through debit card, credit card or net banking. It turns out to be secure and safe.
Vital points to consider if you are planning to renew a health insurance policy online
Renewing a health insurance policy is a hassle-free process. Still there are some vital points to consider before you are opting for an online health insurance.
- At the end of the specified time frame a policy would be terminated. The renewal applications need to reach before the stipulated time frame.
- Make sure that you keep a track of the policy when it expires. Normally notifications are sent to the policy holder about the policy renewal
- If the policy holder fails to renew the policy within the specified time frame, there is a grace period given for the same. Normally this period is for 15 days by which the person needs to be paying the insurance premium
- When they are renewing their policy online there is an option to switch over to another provide if you feel the need to do so. They need to inform the insurer about their intention to do so
- Any claims that is made between the expiry date of the policy or renewal is not going to be considered. For all these reasons a suggestion is to renew the policy before it expires
- When you are planning to renew your health insurance policy check out your insurance needs. Since the costs of healthcare are rising rapidly opting for an insured sum is the right approach.
- Even when you are planning renewal of the policy check out the conditions that is specified by the IRDA.
- There is no loading when it comes to an individual claim insurance which would be applicable on the premium payable.
- It is not possible to refuse a health insurance policy based on fraud, misinterpretation, moral hazard or any type of non-cooperation.
The benefits of health insurance online
If a policy holder undertakes periodic renewal of policy, there are a series of benefits to avail
- It is possible to renew a policy within a few clicks and still you may continue to enjoy a host of benefits. it includes a no claim bonus or providing coverage for a pre -existing element.
- With a health insurance the renewability works out to be lifelong. After completion of a policy the holders would not require a new policy. It is possible to renew the policy year after year.
- A policy holder has an option of converting their existing policy into any of the individual health insurance products. In addition, credit would be given when it comes to the period of regular coverage under the preview of the policy. It is going to take into consideration the waiting period that works out to be a standard norm.
To sum it up, if you do not renew the policy within the specified period of time it could prevent the policy holders from enjoying a host of benefits. A company like Care Insurance is going to provide a wide range of benefits. Hence it is going to be of importance that you stay alert with your due dates and opt for a timely insurance of your health insurance policy. With the policy of care, it ends up providing a comprehensive coverage and the best part is that it can be renewed easily online. So, you can opt for it and make sure to cash in on the long-term renewability. But read through the prospectus before you opt for one.