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Things to Consider While Renewing Health Insurance Policy


Renewing your Health Insurance Policy is undoubtedly a stressful affair. You need to check the renewal terms carefully and do it on time to enjoy continuous coverage. Here are a few things to remember before you renew your Health Insurance:

Aspects to Check before Renew Health Insurance

Review family health needs

Was there a new addition in your family recently? Was anyone diagnosed with a severe illness such as high blood pressure or diabetes off late? Before you proceed with the Health Insurance Policy renewal, check if the Insurance requirements of your family have changed. This helps you to increase or decrease the coverage.

Declare new illnesses

Changes in the underlying health conditions of Health Insurance Policy beneficiaries directly impact the coverage. Hence, complete disclosure is a must at the time of renewal to avoid any hassles while raising claims. It is best to carry out a full-body check-up of everyone covered under the policy before Health Insurance is up for renewal. This assists you to opt for additional coverage if needed.

Increase the sum assured

There is no denial of the fact that healthcare costs are rising every day. Therefore, make a realistic assessment of whether the current sum assured is sufficient for the future claims that might arise. If you have any planned medical expenses coming up after the renewal, it is wise to consider and check whether you need to increase the sum assured. The last thing you want is to continue with a policy that may not cater to your needs.

Check the network hospitals

If you want to avail of a cashless facility, you need to receive treatment in one of the network hospitals of your Insurance provider. Having a network hospital closer to where you live is a good idea to avoid unnecessary travel during a medical emergency. Make sure to ask your Insurance service provider for their current list of network hospitals before you opt for renewal.

Multi-year premium availability

If you want to avoid the hassle of renewing your Health Insurance annually, check if renewing the policy after every two to three years is possible. Most providers offer attractive discounts for such renewals, which makes it lighter on your pocket. New Insurance companies and policies are cropping up every year. Before it is time for renewal, ensure to get the market's pulse to check if you can get better protection than your current policy.

Additional Read: Does Life Insurance in India cover deaths due to Coronavirus?


A new Health Insurance Policy with additional benefits and more coverage might be better than renewing your old policy with insufficient coverage. Also, read the documents carefully and clarify your doubts. No one wants to face last-minute surprises while raising a claim under the policy.


ICICI Securities Ltd.( I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Centre, H. T. Parekh Marg, Churchgate, Mumbai - 400020, India, Tel No : 022 - 2288 2460, 022 - 2288 2470. I-Sec acts as a Composite Corporate agent having registration number –CA0113. Please note, Insurance related services are not Exchange traded products and I-Sec is acting as a corporate agent to solicit these products. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism. The contents herein above shall not be considered as an invitation or persuasion to trade or invest.  I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Investments in securities market are subject to market risks, read all the related documents carefully before investing.


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