Bajaj Allianz Health Insurance is a part of the Bajaj Allianz General Insurance Company Limited established in 2001 as a joint venture between Bajaj Finserv Limited and Allianz SE. One of the largest private insurers in India, Bajaj Allianz Health Insurance, is continuously expanding its range of products and services for the benefit of its customers.
Claim settlement ratio 98.48%
NCB* 50%, up to 100%* of SI
PED Waiting# 24 months
Network Hospital 7000+
Our expert advisors will assist you in the process
| Bajaj Allianz Health Insurance Plan(s) | Plan Type | Entry Age |
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Bajaj Allianz Offers some of the best health policies to its customers to suit their requirements. To enjoy continuous coverage and benefits under such plans, it is important to renew them before their expiry date. Renewal is also the time when policyholders can make necessary modifications to their health policy as per requirement.
Bajaj Allianz health insurance renewal online can be done in simple steps as mentioned below:
For the offline renewal process of the Bajaj Allianz Health Insurance Policy, you can call 1800-209-0144 and seek the help of customer care to renew the policy. Alternatively, you can reach out to the Bajaj Allianz health insurance branch office to renew your plan.
Avoid the Waiting Period – Every health plan imposes a certain waiting period before the insured can enjoy the coverage under the plan. By maintaining timely renewal of your health insurance policy, you can avoid the waiting period of buying new plans. As you know, if you do not renew your health policy on time or during the grace period, it will lapse, and you may have to buy a new policy and go through the waiting period once again.
Tax Benefits – Section 80D of the IT Act allows tax benefits under Health Insurance Plans in India. You can avail of this benefit if you renew your health policy on time by paying the premium for continuous coverage.
Accumulated NCB Protection – NCB points can be accumulated if policyholders do not raise a claim during a policy year. These points can be used to lower your premium amount in the next policy year of your plan. If your health insurance policy is not renewed on time and it lapses, you will lose the accumulated NCB points.
Coverage Without Interruption – Renewing your health plan on time allows the insured to enjoy uninterrupted coverage for a lifetime, along with the benefits associated with it.
Changes in Add-Ons
Renewal is the time to make changes in the additional riders or add-ons in your health insurance policy for extra coverage. If you were planning to add a few significant riders to your health plan or regretted buying a useless add-on, renewal is the time to modify it accordingly. You may also carefully review the plan details and make any changes you feel are required to lower premium costs or enhance coverage.
Premium Costs
The premium of your health insurance plan may increase during the time of renewal. One of the causes of the price rise is inflation in the healthcare sector. Hence, it is good to check your plan's details to ensure you are not charged for something that you may avoid under your plan. Also, you may opt for multi-year policies to ensure that the premium remains the same throughout the policy term.
Policy termination
Every insurer allows a grace period for renewing a policy. Thus, if you miss the renewal date of your policy, you still have the grace period of 15-30 days as per the plan to renew it. However, not being able to renew the plan even during the grace period will cause the policy to terminate. This will end all the benefits and coverage you enjoyed under the plan. Also, you will have to pay extra if you plan to buy a new policy later or if you plan to renew the lapsed policy.
Here are some tips to remember the renewal date of your Bajaj Allianz health insurance policy so that you can make the payment smoothly without penalty or policy lapse:
Conclusion
Despite all the necessary precautions and a disciplined lifestyle, you are still at risk of medical emergencies. Hence, ensuring the renewal of your health insurance policy on time is important to avail comprehensive coverage against health issues and emergencies.
Your Bajaj Allianz Health Insurance Policy can be renewed via both online and offline processes. The details of both methods are mentioned above in the post for your guidance.
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