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Every health insurance policy in the UAE comes with some specific duration. Usually, they have a validity for a certain time period of between 1-3 years. After this time period, the health insurance policy needs to be renewed before it gets expired so that the policyholder can continue to enjoy all the benefits. If, in case, a medical insurance plan isn’t renewed on time & it gets lapsed then the policyholder will not be able to avail the accumulated advantages like waiting period and No Claim Bonus (NCB) benefits & they will again have to buy the medical insurance policy.
Renewing medical insurance policy like Daman health insurance plan is so easy that can be renewed within a matter of few minutes only. Daman health insurance company provides its customers the utmost flexibility to renew health insurance policies online by just sitting at the comfort of their homes. It does not only saves the customer’s precious time but also offers flexible payment options.
In this article, we will discuss how to renew Daman health insurance online and some other important aspects which are related to the renewal of health insurance policy. So, keep on reading.
Renewing Daman health insurance online is a quick and simple process that just takes a few minutes to complete. All you are required to follow the below-mentioned steps:
Step 1: Go to the official website of Daman Health Insurance company and go to the medical insurance renewal section available on the website.
Step 2: Provide the basic details of your previous health insurance policy such as policy number & expiry date. All of your policy details will get fetched automatically.
Step 3: Go through all the policy details and check the policy renewal premium.
Step 4: Make the payment through credit card/debit card/ net banking as per your convenience.
Step 5: Upon making successful payment, a digitally signed copy of the medical insurance policy will get generated and sent to your registered Email ID. You can also take a print of the issued policy in order to get it in paper form.
Ideally, all the policyholders must renew their health insurance policies before the expiry date. Else, the policyholder will have to confront the following consequences:
An expired medical insurance policy does not offer coverage. Health issues are unpredictable that may come without prior notice. If a policyholder or his/her beneficiary(s) suffer from a medical issue after the expiry of a medical policy, they can not raise a mediclaim which can increase the financial burden of the policyholder since he/she will need to bear the huge cost of medical treatments.
No claim bonus (NCB) is basically a discount for not raising a medical insurance claim in the previous health insurance policy period. NCB can remain active only if no claims have been raised and if the medical insurance policy is renewed on time. If a policyholder fails to do so, their NCB will become zero and also they will lose the discount.
The waiting period in a medical insurance policy is the time during which the policyholder can’t file a claim for particular medical issues. There are some common medical issues that have a waiting period in medical insurance policy such as hypertension, diabetes, thyroid, asthma, etc. A waiting period can be of few months or a few years depending on the health insurance provider. When you don’t renew a medical insurance policy on time, the delayed time is not considered under the waiting period. Hence, the medical insurance provider will count the waiting period only when the medical policy is in active mode.
If, in case, you are not satisfied with the coverage or premium of your existing health insurance policy then you can port a medical insurance plan from one insurance provider to another. But please note that that only active medical insurance policies can be ported. Therefore, any sort of gap in renewing the medical insurance policy can create a cause of concern for the new medical insurance company and your request for porting of medical insurance policy may get rejected.
Some of the leading health insurance companies offer lifelong renewability on their medical insurance plans provided they are renewed on time. Unfortunately, the policyholder will not be able to avail of these benefits if the medical insurance policy expires and it is not put up for renewal for a longer period of time.
Make sure you always renew your health insurance policy before it gets expired. Doing this on time will ensure continued coverage and no loss of waiting period and no claim bonus discounts. Following are some important things that you should remember while renewing your medical insurance policy:
Your health insurance company may ask for a health checkup if in case they find that your current lifestyle may cause an increased number of medicaim. That is why it is very important to take care of your health to avoid paying the high premium cost.
A policyholder must always check the coverage he/she is opting for before making the payment for renewing a health insurance policy. Since there could be several reasons for you to consider making some kind of changes in your existing medical insurance plan. For instance, there could be an addition of a newborn child in your family or even a new health issue.
The policyholder can also consider purchasing suitable add-ons/riders at the time of renewing the medical insurance policy. Since your health insurance provider may provide some new add-ons which may suit your insurance needs or your requirements would have changed from the previous policy period. Hence, you can opt for the add-ons that suit your requirements the most.
Just like offering to new riders or health insurance plans, a medical insurance provider may also make some changes in their terms & conditions. Therefore, it is imperative to go through the fine print in order to keep yourself updated with the latest terms & conditions of your insurer.
Usually, many people think that by buying a health insurance policy they are done and they don’t have to do anything. But this is a very wrong approach. Renewing your medical insurance policy in a proper and timely manner is as important as opting for the right health insurance policy for you. So, don’t forget to renew your Daman health insurance policy before its expiry date by following the aforementioned procedure to continued coverage and no loss of waiting period, and no claim bonus discounts.