Health insurance renewal

What is health insurance renewal?

Health insurance renewal refers to extending your existing health insurance policy for another policy term, usually one year, either before or shortly after the policy expires. Renewing your policy allows you to continue your coverage without starting over.

Health insurance renewal applies to:

• Individual health insurance plans, purchased by a person
  
  
• Family floater plans, where one policy covers multiple family members
  
  
• Group health insurance plans, offered by employers to their employees

Why is health insurance renewal important?

Renewing your health insurance on time is important because it helps you maintain continuous coverage and long-term benefits.

Key reasons why health insurance renewal matters:

• It ensures uninterrupted medical coverage, so you remain protected against unexpected hospital expenses.
  
  
• It protects important waiting period benefits, such as coverage for pre-existing diseases (PED), maternity cover and specific illnesses.
  
  
• It helps you avoid a policy lapse, which may require fresh underwriting and higher premiums.
  
  
• In group health insurance, timely renewal ensures that employees and their dependents continue to receive coverage without any gaps, reducing confusion and claim-related issues.
  

Health insurance policy renewal: individual vs group plans

Individual and family health insurance

In individual and family floater plans:

• The policyholder is responsible for renewing the policy before expiry.
  
  
• The premium may change at renewal due to factors such as age, claim history, or changes made by the insurer to pricing or benefits.
  
  
• If the policy is not renewed on time, waiting periods and accumulated benefits may be lost.

Group health insurance 

In group health insurance plans:

• The employer or HR team handles the renewal process on behalf of employees.
  
  
• Policy terms, coverage limits, and premiums may be renegotiated every year during renewal.
  
  
• Employees usually do not have to serve waiting periods, provided the group policy is renewed on time without a break.
  

Grace period for health insurance renewal

What is a grace period?

The grace period is the additional time provided by insurers after the policy expiry date during which you can renew your health insurance without losing continuity benefits.

Typical grace period

• Individual health insurance policies: Usually 15 to 30 days, depending on the insurer.
  
  
• Group health insurance policies: The grace period may be negotiated between the employer, broker, and insurer.

Coverage during the grace period

• If a policy expires and enters the grace period, claims are usually not payable for treatments taken during this time.
  
  
• However, renewing within the grace period helps retain waiting period credits.

For employers, tracking renewal timelines is critical to avoid coverage gaps that may affect employee claims and satisfaction.

Health insurance renewal online: How it works?

Most insurers and brokers now offer online health insurance renewal options for convenience.

Steps to renew health insurance online

1. Log in to the insurer’s or broker’s online portal.
2. Review your existing policy details and coverage.
3. Confirm the renewal premium and any changes in benefits.
4. Make the payment online to complete the renewal.

Online renewal for group health insurance

For group health insurance plans:

• Renewal is typically handled by the insurer or broker.
  
  
• Employee data, including additions and deletions, is updated before renewal.
  
  
• Coverage terms and premium changes are finalized before the new policy period begins.

Key things to check during health insurance renewal

Before renewing your health insurance, it is important to review the policy carefully.

Key points to check:

• Whether the sum insured is adequate based on current healthcare costs.
  
  
• The list of network hospitals and any changes.
  
  
• Policy exclusions and sub-limits, especially for room rent or specific treatments.
  
  
• The insurer’s claim settlement experience and service quality.

Additional checks for group health insurance

• Coverage for dependents, including parents.
  
  
• Availability of maternity and pre-existing disease (PED) coverage.
  
  
• The premium impact per employee, especially if benefits are enhanced at renewal.

Can health insurance be renewed after expiry?

Yes, health insurance can usually be renewed within the grace period after expiry.

If renewal happens after the grace period:

• The policy is treated as a new policy.
  
  
• All waiting periods may restart from day one.
  
  
• Premiums may increase due to fresh underwriting.

Group insurance exception

In group health insurance, insurers may offer limited flexibility for late renewals based on the employer’s relationship, claim history, and policy size. However, this is not guaranteed and should not be relied upon.

Planning group health insurance renewal for your organization?

Get expert support to review coverage, negotiate better benefits, and ensure a smooth group health insurance renewal for your employees. Talk to an insurance expert today to make renewal simple and stress-free.