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New India Health Insurance Renewal
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New India health insurance offers financial security amid unanticipated medical problems. It is crucial for an insured to renew their New India insurance policy to continue receiving protection against medical expenses. To prevent the policy from expiring, ensure you pay the renewal premium before the deadline. The renewal of health insurance is made simple and hassle-free by New India health insurance. The procedure is easy to comprehend and doesn't take the policyholder too long. You’ve got an online and offline alternative for the New India health insurance renewal to make the entire renewal procedure easier.
Your renewal window depends on the coverage you are insured for, so it’s important to know all the details about the policy you are insured for. In order to continue enjoying the perks given by New India health insurance renewal, you’ll be required to renew the policy before the expiration date. In case you fail to do so within the said period, you can have another 15 or 30 days to pay your renewal premium. If you don’t renew even during this grace period, the policy will lapse and get you uncovered against medical emergencies should they arise then. New India health insurance renewal processes are covered here.
New India Health Insurance Policy Online Renewal Process
You can process the online renewal of New India health insurance through the company’s website following this process:
- Visit New India's official website.
- After selecting the ‘quick help’ drop-down menu from the top right corner of the website, select ‘quick renewal’ from the options.
- Enter the customer ID and your policy number.
- Click on ‘proceed’.
- Before continuing, don’t forget to confirm the specifics of your insurance, save your quotation and double-check everything.
- Use a debit card, credit card, or online banking to pay the renewal premium for your health insurance coverage.
- You will get a confirmation email about the renewal of the New India health insurance renewal online payment after paying your premium.
New India Health Insurance Policy Renewal - Offline Process
New India health insurance plans may be easily renewed online. However, all those who find it inconvenient online can dial the company's toll-free number, 1800-209-1415, to renew their policies. If desired, policyholders may also renew their health insurance by going to the nearest New India Assurance office.
Benefits of Renewing New India Health Insurance Policy
The following benefits are available to you when you submit the New India Assurance health insurance renewal policy:
1. Waiting Period Reduction
New India Assurance Health Insurance renewal benefits you by reducing your waiting period. In some cases, the waiting period would finish with the timely renewal of New India Assurance. The waiting period is the time before you could request some or all health insurance benefits from your insurance company.
2. Cashless Treatment Benefits at 3,000+ Network Hospitals
New India health insurance renewal provides cashless hospitalisation as long as you access one of the network hospitals under the insurer. It helps you access hospital services while cancelling out the constant anxiety-inducing thoughts about hospital expenses. The timely renewal assures you of this benefit. The New India health insurance renewal provides you access to over 1500 network hospitals for cashless treatment. Network hospitals are the healthcare institutes New India Assurance has tied up with for cashless hospitalisation.
3. Quick Claim Settlement
The benefit of an uncomplicated and rapid claim settlement procedure is guaranteed with the timely New India Assurance health insurance renewal. The policyholder must submit a request to the company through the health insurance claim settlement process to use the medical treatments covered under their health insurance plan. The policyholder can use this to obtain a cashless treatment or to be reimbursed for already used medical services.
4. Lifelong Renewability
All insurers offering health insurance in India are required by the IRDAI to provide plans with a lifetime renewal option. Lifetime renewability guarantees that New India Assurance health insurance renewal can be done without any limitations or age limits for as long as you live. Lifetime renewability relieves retired people's financial stress should they undergo treatment for a serious disease.
5. Tax Benefits
You are entitled to a tax exemption of up to INR 1 lakh every fiscal year under Section 80D of the Income Tax Act,1961, which also protects your financial stability. You risk losing the tax benefits if you don't renew your health insurance.
Things to Keep in Mind During New India Health Policy Renewal
- The ability to review, upgrade, or change the identity of your nominee, the sums covered, and the features and restrictions of the policy, is only possible if you renew your health insurance on time. Around 45 days before the expiration date, you receive an email notification for your New India Assurance health policy renewal.
- The amount insured that you may have felt was sufficient a few years ago may no longer be due to the escalating medical treatment expenses. The chance to review and, if necessary, increase the sum covered is possible during New India health renewal time.
- Your New India Assurance health policy renewal date is an excellent time to think about adding some extra riders to your existing coverage. You might not have given much attention to extra rider benefits to complete your insurance when you purchased it, but you can do so on renewal.
- Age, socioeconomic situation, gender, work-life balance, and other factors affect health risks and requirements. Before choosing health insurance, one must thoroughly evaluate and analyse the risks involved. Any changes to your health must be disclosed to New India Assurance when renewing to avoid complications should you need to file a claim.
The Bottom Line
The importance of renewing a health insurance plan is equivalent to purchasing one. It continues your health insurance policy's advantages, such as reducing the waiting period for pre-existing diseases and the accrual of no-claim bonuses, etc. New India health insurance renewal online enables you to renew your health insurance policy from various options online and offline.
New India Health Insurance Renewal FAQs
1. What time frame is there for the New India Assurance health insurance renewal?
New India gives you a grace period of 30 days before the expiration of your prior policy to renew your policy.
2. Can I complete my New India Assurance health insurance renewal online?
Yes, you can make the New India health insurance online payment, But you can also go ahead with the offline procedure through the branch near you.
3. Does New India Assurance health policy renewal provide you with a restoration sum benefit?
Yes, the New India health insurance policy provides you with the restoration sum benefit with your timely renewal of the policy insured.
4. Does renewal of New India health assure the benefit of a cumulative bonus?
Yes, you receive a cumulative bonus benefit from New India. In consideration of each year of insurance with no claims, the sum insured under the policy is raised by 25% at each timely renewal, up to a maximum of 50%. The cumulative bonus that has accrued may be lowered if a claim is filed in any given year at the same proportion at which it has been accruing.
5. How can I get in touch with New India Assurance?
You can do so by dialing New India’s toll-free number (1800) 209-1415 for customer support. and its executives will answer any queries you may have.