Health is unpredictable; now you are fine enjoying with your family and friend, but the next moment you might find yourself lying on the hospital bed. It’s a bitter truth of life. You cannot prevent health complications, but with health insurance by your side, you can financially fight against the problems and get the best treatment for your family and you.

Getting health insurance is a great step, but it’s only beneficial if you renew it on time and keep the validity continued. Paying the premium and renewing the policy before the due date is the two things that you should always be aware of when holding a health insurance policy. If you miss out on any of these, there will no or little claim benefits left for you.

Keeping aside the premium part, we will focus on policy renewal in this blog. In most cases, people commit mistakes or miss out on some important points at time policy renewal. To keep everything on ease, we have mentioned a few points that you should remember before and during the renewal of health insurance policy.

Remember the renewal date

If you are not good at memorizing dates, we recommend setting a reminder on your phone or maintaining a diary mentioning the renewal dates. Remembering the dates becomes more difficult if you are holding more than one insurance policy.

If you do not renew on time, you will lose the waiting period for pre-existing conditions and lose the coverage during the lapsed period.

Changes in the number of people insured

If you wish to add, remove, or change the names and numbers of your family members on the insurance policy, you can do it at the time of renewal. Like, if you got married or had a child after taking the policy, you can add their names to the policy.

Several advantages and disadvantages are associated with the numbers of the insurance holders, so you should study and understand the health insurance quotes in Scottsdale AZ.

Revise the sum insured

If you think the amount or the coverage in your current health insurance policy is inadequate, you can increase the same at the time of renewal. You should ask for new health insurance quotes from the company and apply for the best-suited option.

Just like in the beginning, you will have to undergo several medical tests to add top-up plans in your current policy.

 

Review the terms and conditions of the policy

From the time you took the policy to the renewal, the insurance company might have done a few changes in terms and conditions. So, before renewing the policy, you should study and understand the policy again.

Most companies inform the changes in advance (before the due date), but if they do not then the review will be safe for you. The new terms and conditions will help you to decide whether to continue or switch to another company.

Inform about any new illness to your insurance company

If you or any insured members in the policy have been detected with any new disease or illness, you should inform your insurance company. Except for a few cases, the company will not increase the premium amount.

Informing about the disease will help you prevent any problem in the future and maintain a good relationship with the insurance company. If you claim for the disease without pre-informing, the insurance company might reject the same.

After renewing, inform the changes done in the policy to your legal heir and keep the renewal receipt in a safe place so that your family members can find it easily at the time of emergency.

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