Health Insurance: In today’s time, taking health insurance has become an essential part of people’s portfolio. Its demand increased further during the Corona period. But let us tell you that it is more important than taking necessary health insurance that some special things should be kept in mind while renewing it. Renewal of insurance should never be done in a hurry. Today we are going to tell you some special things, which should be kept in mind while renewing the insurance.
It is believed that the health insurance should be renewed 15-30 days before the end of the plan. Usually, in most health insurance companies, companies give a grace period of 15 to 30 days. If the premium is not paid during the grade period, the policy is considered to have lapsed.
Number of members covered in insurance
Health insurance should be taken according to the needs of the family. It is wise to insure all the family members under health insurance. Hence the addition or removal of family members should be considered while renewing the policy.
increase insurance coverage
While renewing health insurance, understand that getting treatment is getting costlier every year. So, at the time of renewal, think about the insurance coverage whether it is meeting your needs or not. If not, increase its coverage.
top up plan
If you have a fixed plan that you have been running for a long time, then you can top up on it. You can further enhance the benefits of insurance through top up. It will also expand your coverage.
Terms and conditions
Companies keep on changing their insurance rules and regulations from time to time. So instead of renewing the policy without understanding, get all the details about the sum assured, number of claims, no-claim bonus and claims made.