Why healthcare renewal matters

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Thank you for your interest! Our Insurance advisor will call you soon to assist you. Niva Bupa 18 November Share Total Share 0. Renew Health insurance Before Due Date It is essential to renew health insurance policy before the due date.

Compare Health Insurance Plans Whether it is a personal accident insurance , a family health insurance, or a critical illness insurance - it is suggested to take a look at the policy type before buying health insurance policy.

Preserving Receipts It is also essential to preserve all receipts and inform family members of the health insurance documents — a lot of insurers, including Niva Bupa, offer app access to customers which has important details like policy document, hospital network, claim reimbursement submission features and more.

Renew Health Insurance - Policy Holder A change in policy holder or addition of new members in the plan is possible only during the renewal of health insurance plans.

Health Insurance Plans and their requirements There are numerous benefits of a comprehensive health insurance plan. Terms and Conditions If one wants to compare health insurance plans , taking a look at the terms and conditions is very important.

Portability Of Health Insurance Policy Just as one can renew health insurance online, one may also switch from one insurance company to another.

Super Top-Up Plans Top-up plans need to be looked at if the insured amount reaches the maximum amount of coverage that is provided by the insurer.

Increased Sum If there is a requirement of increasing the insured sum, it may also be done while renewing the policy. New health Condition It is best to disclose all new health conditions that the insured may have developed by the time of renewal to be on the safe side. Conclusion: Buying health insurance policy comes with the responsibility to renew health insurance policy when it is time.

Trending Now. Either they stay under the old plan, or they migrate to another product with their insurer without undergoing new underwriting. Four to six weeks before your renewal date, your advisor will contact you. It is their duty to do so. Your advisor will communicate any price inflation and changes that may occur in your benefits. Then, it is your duty to share any changes in your situation, such as jurisdiction changes relocation to another country or employment changes loss of work coverage.

Your advisor needs this information in order to best advise you. Based on this, your advisor may present new options. However, keep in mind that switching plans or changing the insurer will likely involve new underwriting answering a new medical questionnaire and that any conditions declared under the previous plan will be considered as pre-existing conditions under the new one.

Therefore, they might be excluded or cause a higher premium. If you pay your premium by credit card, beware of the fact that some insurers do not wait for your express consent to continue the plan. It means that whether or not you want to stay, if you did not express your decision in time, they might automatically charge you. Make sure to be aware of this and check your bank statements if you have decided to stop your coverage with your previous insurer. This will give you more time to look into your options and make an informed decision.

If you have pre-existing conditions and would like to shop around to compare counter-offers from different insurance providers, it is recommended to reach out to your health insurance advisor at least 3 months before your renewal date.

Looking for health insurance for yourself , your family or your team? Receive a free comparison quote or schedule a chat with us today. For example, many plans offer:. People often forget to take advantage of these benefits, but they can really add up to mean more money in your pocket — and more peace of mind. However, your plan may vary, so check with your insurance company for details.

During open enrollment, anyone can change their health insurance plan, for any reason.