Quick Overview

You must renew your health insurance policy before the due date. In case you forget, your insurer provides a grace period for you to complete your health insurance renewal payment and continue to enjoy its benefits. 

As per IRDAI rules, the grace period for monthly premiums is 15 days and 30 days for quarterly, half-yearly, and annual premium payment modes. 

Failure to renew your health plan within the grace period may lead to policy cancellation and other penalties.

When you delay your health policy renewal, it can result in loss of policy benefits. At Ditto, we simplify this process to help you stay informed about renewal deadlines. This guide helps you understand the process and benefits of renewing your health policy within the given timeline.

Still unsure how to go about renewing your policy? Book a free call or chat with us, and let our experts guide you through the process.  

Benefits of Renewing a Health Insurance Policy Before Expiry

Waiting Periods

Renewing your policy without a break ensures your pre-existing disease, specific waiting periods, and moratorium progress continue uninterrupted. Thus, there is no reset of waiting periods.

No Claim Bonus

Staying claim-free can boost your sum insured without raising premiums. Some policies, like HDFC ERGO Optima Secure, also give a renewal bonus irrespective of claims.

Avoids Fresh Underwriting Risk

On renewal, insurers shouldn’t re-underwrite unless you ask for a higher sum insured. If your policy lapses, it can push you into a fresh proposal.

No Coverage Gaps

Timely renewal reduces the risk of being uninsured during unexpected hospitalization, which is especially important since coverage during the grace period depends on the premium payment mode.

How to Renew Your Health Policy within the Due Date?

Health Insurance Renewal

If you want a quick renewal process, follow these simple steps: 

    • Visit your health insurer’s website and navigate to their policy renewal page.
    • Enter your policy details and add any riders or make changes to the coverage if needed.
    • Choose your preferred mode of payment and pay the premiums. 
    • Once the payment has been successful, you can download the new policy documents.

Alternatively, if you want in-person assistance for your policy renewal, visit the insurer’s nearest office branch. 

Note: If you bought your health policy through Ditto, you can contact us for personal assistance.

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Factors to Consider While Renewing a Health Insurance Policy

01

Policy Changes

When you renew your health policy, review your existing details carefully and update any changes like email, then and there.

02

Riders or Add-ons

While renewing your plan, you have the option to add in optional riders for critical illness or maternity benefit, if any. Review the terms and conditions of your policy and opt for the riders you need.

03

Network Hospitals

Check if any of the insurer’s network hospitals have been blacklisted. When you keep a note of your insurer’s current network hospitals, it ensures hassle-free cashless treatments during medical emergencies.

Did You Know?

Health insurance renewals have become more policyholder-friendly as insurers can’t deny renewal due to past claims. Your insurer must allow renewals unless there’s fraud or non-disclosure, and can re-underwrite only if you request a higher sum insured (limited to the enhanced portion).

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What Happens If You Do Not Renew Your Health Insurance Policy on Time?

  1. Policy Continuity: If you miss the grace period, your health policy may lapse. Post which, you will have to buy a new plan, restarting all waiting periods.
  2. Medical Re-evaluation: For policies renewed after the grace period, your insurer may ask for a fresh medical check-up or updated health declaration before approving renewal.
  3. Higher Premium Possibility: If your policy has lapsed beyond the grace period, you may need to pay a higher premium (due to loadings) or face exclusions for pre-existing conditions.
  4. Avoid Claim Denial Risks: During the grace period, you are not eligible for benefits like cashless treatment at network hospitals. So, it’s best to renew your policy before it expires to stay covered at all times.

Note: Coverage during the grace period depends on your premium mode. If you pay in installments, coverage continues during the grace period. For non-installment renewals, coverage between expiry and payment may not be available.

How to Renew an Expired Health Insurance Policy?

If your health policy has expired, you may contact your insurer for late renewal options. If unavailable, buy a new policy to maintain continuous health coverage. 

Note: Some offline insurance agents may help recover your expired plan by filling out back-dated applications, but this method is neither ethical nor legal.

Can You Transfer or Port Your Health Insurance Policy During Renewal? 

Yes, you can port or transfer your health insurance policy at the time of renewal. Portability lets you switch insurers while retaining accrued benefits like waiting periods and continuity, provided you apply at least 45 days before renewal and meet the new insurer’s underwriting criteria.

Why Talk to Ditto for Your Health Insurance?

At Ditto, we’ve assisted over 8,00,000 customers with choosing the right insurance policy. Why customers like Rajan below love us:

Health Insurance Renewal
    • No-Spam & No Salesmen
    • Rated 4.9/5 on Google Reviews by 15,000+ happy customers
    • Backed by Zerodha
    • 100% Free Consultation

You can book a FREE consultation. Slots are running out, so make sure you book a call now!

Ditto’s Take on Health Policy Renewal 

If you renew your health plan on time, it keeps your coverage active and worry-free. Here’s what you can do:

    • Update your contact details so you never miss important alerts. 
    • Set a renewal reminder a month before your renewal date and use online payments for faster and smoother renewals.
    • If you want to skip the hassle of renewing every year, pick a multi-year plan.

If you are looking for a new health insurance policy with affordable coverage, we recommend comprehensive plans, which align with your long-term goals. Explore more about how our experts evaluate term plans through Ditto’s cut.

Frequently Asked Questions

What happens if I miss my health insurance renewal date?

Most insurers offer a grace period (usually 15–30 days). During this time, coverage may pause, but you can renew without losing continuity benefits.

Can my health insurance premium increase at renewal?

Yes. Premiums can rise due to age band changes, claim history, medical inflation, or revisions in the insurer’s pricing.

Will my waiting periods reset if I renew on time?

No. If you renew without a break, waiting periods for pre-existing diseases and specific illnesses continue from where they left off.

Can I change my sum insured or add riders at renewal?

Yes. You can increase coverage or add riders at renewal, but this may involve underwriting and fresh waiting periods for the enhanced portion.

Is it possible to switch insurers during renewal?

Yes. Health insurance portability is allowed at renewal, enabling you to change insurers while retaining continuity benefits, subject to approval.

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