Most people renew with one tap. It’s also the one moment you can change your cover without losing your waiting periods, so it’s worth ten minutes. Read these five lines first.
1. Sum insured
A ₹5 lakh cover bought in 2019 doesn’t stretch as far today. One serious admission in a city hospital can cost more. Find out what a major procedure costs near you, and compare.
2. Room rent
If your plan caps the room at 1% of the sum insured, ask about a waiver or a plan without a cap. It’s the clause that cuts the most claims.
3. Co-pay
Check whether one applies by age, hospital or city, and whether you can remove it at renewal.
4. Waiting periods
Note when each one ends. If you’re close to finishing a pre-existing disease wait, buying a fresh policy elsewhere would restart it.
5. No-claim bonus
See how much bonus you’ve built up. It’s real cover. If you switch insurers, ask in writing how much of it carries over.
If you want to switch
Ask for porting, not a fresh policy, so your time served carries across. Start at least six weeks before your renewal date, so the new insurer has time to review your history.