Related Articles
.png)
Jan 08, 2025
Is Varicose Vein surgery covered under the health insurance policy in India
Health Insurance
.png)
Health Insurance Renewal – Guide to Online Process
A health insurance cover has become mandatory in today’s age. If you don’t believe me, consider the medical costs. Medical inflation is at an all-time high and the costs have become unbearable for the common man. In such cases, if you or your family member falls ill and is hospitalised, the medical bills have the potential of wiping out your entire savings. A health insurance plan protects your savings from this potential financial disaster. It pays for the medical costs and saves your money. Unlike life insurance plans which come for a longer tenure, health plans are annually renewable plans. If you want to enjoy the security offered by a health insurance plan, you have to renew it annually. Do you know how to do it?
Many of you are not familiar with the health insurance renewal process. Especially with the progress of the online medium which allows you easy renewal process, many of you feel confused. So, here is a step by step guide to health insurance plan renewal process:
Go online and compare
The first and foremost step is to visit an online platform to compare the available health insurance plans. While you might stick to your current insurance provider comparing is always recommended to find whether there are other plans available in the market which are better than your existing health insurance plan. Visit the website of a reputed insurance broker or aggregator, fill in your requirements and view the plans available. Understand the coverage features vis-à-vis the premium offered. If you find a better plan, port your existing health insurance plan to the new plan. Porting should be done at least 45 days before the policy renewal date by submitting a porting request with your current health insurance provider.
If you wish to continue with your current health insurance company, follow the below-mentioned steps:
- Visit the website of your insurer and choose ‘Renew’ option.
- When you choose this option, you would be asked to provide your policy details. Your personal information might also be required for verification like your birth date, name, etc.
- After you have provided all the details, you can edit your existing plan. You can
- Increase or decrease the sum insured if required
- Opt a new rider or opt out of an existing one
- Add new family members or remove existing members, etc.
- Change your residential address or your contact details
- Based on any changes done to your existing plan and your age, the new premium would be calculated
- You would have to pay the premium through any digital mode like credit card, debit card, net banking, mobile wallets, etc.
- Once the premium is paid, the policy would be renewed and the new policy document would be sent to your registered address.
If your renewal date has passed you are allowed a grace period of 30 days within which you can renew the policy and ensure a continuous coverage. Renewal during the grace period is also done using the above-mentioned steps. So, understand the steps and renew your health insurance plan regularly for a continuous coverage.
Choose wisely!
Over to You
Care Health Supreme and HDFC ERGO Optima Restore are among the best health insurance policies in India today. It is a matter of your priority, coverage depth over cost effectiveness. Here’s a quick recap for you to make an informed decision.
Both offer coverage of up to ₹1 crore; Optima Restore starts at ₹3L, Care Supreme at ₹7L. Supreme offers unlimited recharge; Optima Restore offers 100% once a year, after a claim is made. Care includes OPD + unlimited e-consults; Optima lacks OPD, allows one consultation/year. Care gives a 30% discount + 500% bonus; Optima offers 8% discount + 50% bonus. Care Supreme is costlier but has more features. Optima suits budget buyers; Care fits those needing wider, long-term coverage.
Whichever health insurance plan you choose, ensure to read the policy wordings and seek advice from an expert before you make the purchase. The best health insurance is the one that covers you the way you want to be covered.
Speak to an Advisor Both offer coverage of up to ₹1 crore; Optima Restore starts at ₹3L, Care Supreme at ₹7L. Supreme offers unlimited recharge; Optima Restore offers 100% once a year, after a claim is made. Care includes OPD + unlimited e-consults; Optima lacks OPD, allows one consultation/year. Care gives a 30% discount + 500% bonus; Optima offers 8% discount + 50% bonus. Care Supreme is costlier but has more features. Optima suits budget buyers; Care fits those needing wider, long-term coverage.
Whichever health insurance plan you choose, ensure to read the policy wordings and seek advice from an expert before you make the purchase. The best health insurance is the one that covers you the way you want to be covered.
Author Bio
Paybima Team
Paybima is an Indian insurance aggregator on a mission to make insurance simple for people. Paybima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. Paybima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
Other Health Insurance Products
Jan 08, 2025
Health Insurance
Latest Post
So, you’ve crossed the fabulous 60 mark. Retirement may be on the cards, your kids might be off doing their own thing, and suddenly your knees are making more noise than your WhatsApp notifications. Welcome to the senior citizen club.
Now let’s talk about something most of us tend to postpone until a doctor gives us a reality check: health insurance. If you are wondering whether buying health insurance after 60 makes sense, the answer is a loud and clear yes. This article will cover everything you need to know about it, how it makes sense, how it differs from health insurance for young adults, and what you need to look out for when checking for medical insurance above the age of 60.
.png)
April 2 is observed as World Autism Awareness Day and there is no better way to observe the day than to raise awareness of this condition and to promote kindness towards autistic people. Read on to know more.
Car depreciation implies the difference between the cost of a car at the time of buying the car and when you sell it. A car insurance claim amount is determined by the car depreciation rate. The car depreciation rate is the reduction in the value of your car over its lifespan caused by wear and tear.
Fixed Deposits (FDs) are one of the safest ways to grow your savings. HDFC Bank offers attractive FD interest rates, allowing you to earn guaranteed returns on your investment. But before you invest, it's important to know how much interest you will earn and what your final maturity amount will be.
If you think of life insurance, chances are you are picturing something people buy in their 30s or 40s. But what if you are 65 or older and just getting started? The good news is that you are never too late. Whether you are thinking of easing the financial burden on your family, covering final expenses, or simply leaving behind a legacy, there are life insurance options tailored just for you.
This article will be a guide to life insurance for senior citizens above 65 years, explaining why it is important, the type of insurance options, and how to get the right policy for you.
Speak to our Advisor
+91
By clicking the button, I authorize Paybima advisor to contact me via SMS, Email, Phone, WhatsApp or any other modes overriding my 'DND'.T&C Apply.