Health insurance is an investment that everyone must make
since without good health it is impossible to lead a long and life. However,
one’s responsibility does not end after purchasing a health insurance policy.
In order for the policy to be active, one must ensure that Religare
Health Insurance renewal is completed well within the stipulated time
mentioned. Otherwise, failing to do so will result in a number of complications
and this must be avoided by keeping the following points in mind:
·
Renew the policy ahead of
time
·
Review insurance
requirements
·
Disclose new health status
or illnesses
·
Portability
·
Read policy document
carefully
Each
of these points has been discussed in the following sections.
Renew the Policy Ahead of Time
Religare health insurance renewal ahead of time is essential since
it ensures that the policyholder is always insured. If one fails to pay the
premium on time and misses the grace period as well will result in a period
where one isn’t insured.
Being
uninsured during a period leaves one open to the possibility that any claim
filed during this period will not be cleared by the insurance company. As a
result, it would result in out of pocket expenses, which can be very expensive.
Always
plan to pay the premium a month in advance so that one can go over all the
details of the policy and if required update or upgrade as required.
Review Insurance Requirements
At
the time one is thinking about renewing one’s policy, it is a good idea to review
the insurance requirements. For instance, if one is planning to start a family
then one must look a health insurance plans that cover maternity related costs during
the time of hospitalization.
Furthermore,
it is essential that one revisits the policy because with time one’s priorities
may change. As a result, new riders can be added to the existing plan to make
it more comprehensive.
So,
before signing the dotted lines it is a good idea to rethink one’s policy, if
necessary, in order to provide better coverage.
Disclose New Health Status
or Illnesses
Another
important aspect that one should take stock of is one’s new health status or
illnesses that one must disclose to the insurance company. It is a common
misconception that the insurance company may not be aware of the condition and
won’t take action.
The
truth is that if a claim is filed and the new health status is discovered then
the insurance company is not liable to accept medical expenses related to
treatment for the illness. Furthermore, the insurance company is well within
its rights to make this claim null and void due to this breach.
It’s
always best that one comes clean about health conditions or change in status as
additional provisions can be added or one can select another policy that
provides coverage for one’s condition. This is way the insurance coverage will be
of more use to the policyholder.
Portability
At
the time of Religare Health Insurance renewal one must take
into consideration all aspects related to the health plan should be taken into
consideration. However, if there are better deals available then one must
consider portability.
However,
if one is seriously considering portability then one must look at the other
options available and whether the no-claim bonus can be carried over the new
policy as well. This is something that most people miss out on and as a result
they lose the benefit due to them as a result of this process.
Also,
look at reviews of other policyholders who have ported their insurance plan to Religare
Health Insurance renewal and their experience. This will help one understand
how the process works and probable pitfalls that one may experience.
Read Policy Document Carefully
It
is essential that one must read the policy document before Religare
Health Insurance renewal. Therefore, always keep a few days at hand before the
policy period ends so that one is not rushed and miss out on understanding the
terms and conditions stated in the insurance policy.
Moreover,
once the policy is renewed it means that the policyholder accepts the terms and
conditions and it will be difficult to amend the policy terms post that. If
there are any provisions that one must take into consideration then it must be
done earlier rather than later.
However, one
must note that the inclusions are as important as the exclusions in the policy
document. As a result, one must read the offer document carefully and clarify
any concerns with the insurance company.
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