Renewing a Health Insurance

Renewing a Health Insurance

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Not every man likes some other person to come to his doorstep to help him renew his health insurance policy. Some use their laptop or a smartphone phone. After all, it’s all about getting your life insured and your health insurance policy renewed against things which may help take it otherwise. To ease things at hand, there are enormous amount of resources all over the internet to help you choose a health insurance policy, and guide you to keep renewing it until you are able to. And if not that way, a phone call would help you meet a new person every day, coming to you with their health insurance policies and benefits, or may be if you have passed the due date of the renewal.

Is It Necessary to renew a Health Insurance Policy?

It’s not the health insurance policies, but the terms on which they operate that may hinder some people to keep renewing them. But it’s necessary to renew your health insurance policy as and when required. Most of them cover a lot of your money which you could have lost or could be losing if you happen to come across any accident. Given how medical treatments these days burn a hole in your pocket, it’s better to keep someone who may watch your back by then, why not then a health insurance policy that keeps renewing periodically along with you?

How you may lose if you do not renew your health insurance policy?

You may have to buy a new policy, provided the already existing one ceases to exist anymore.

Every insurer is liable to some amount of money as bonus if the person has not made any claim to his policy for at least a year, given the policy is kept alive. It doesn’t if you fail to renew it, and even though it may, you may not be able to claim your bonus even though you are liable.

Your policy may not cover the charges you might incur while treating a childhood old disease, if you do not renew it.

If at all you decide to buy a new policy, you may have to wait for period of 30 days or maybe more before you are able to make a claim. Health Mediclaim policies usually take a longer time and in case you do not renew your policy, it lapses and may take a longer period for you to invest in a new one.

Pre-existing disease usually are covered after a few years of continuous coverage, and there are diseases which, in particular, are covered only after around two or three years of continuous coverage.

As per the law, all health insurance companies are bound to allow and help their customers in renewing their policies for a period of 30 days from the due date for renewal. And during that time frame, the insured gets to avail all the benefits that the policy is supposed to offer.

Benefits of Renewing a Health Insurance Policy:

Your accessibility to quality health care treatments tend to increase all the time provided you continue your policy coverage for a long period of time.

Sudden medical requirements may not be met and may seem to create a situation where you may not have enough money to pay for your bills but yet the treatment is necessary and an emergency. Health insurance policies come to your rescue in such situations, given the fact that you are have paid all your premiums on time and have renewed the policy as when it was required.

Irrespective of your financial capacity, health insurance policies which have been timely updated ensure you get the proper medical care and treatment as when it is necessary or maybe during any emergency, where you may not be able to pay cash up front.

Certain hospitals may admit you or any of your family member provided your health insurance policy permits it to, without you paying a single dime. So do remember, if you are going to invest in a new policy, make sure to go through its network of hospitals and their accessibility during emergencies.

Your health insurance policy stays healthy provided you are healthy. And vice versa. So do keep a reminder to help you renew your health insurance policy every time on or before the due date arrives. Leaving things to the last minute is not advisable as it can have some serious repercussions.

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