ICICI Health Insurance Renewal: Process, Grace Period and Important Points
Renewing your health insurance policy on time helps you continue your coverage and retain eligible continuity benefits. If you have an ICICI Health Insurance Renewal coming up, it is useful to check your policy expiry date, premium, sum insured, coverage and other policy terms before making the payment.
ICICI Lombard provides an online renewal facility where existing policyholders can enter their policy number and proceed with renewal.
What Is ICICI Health Insurance Renewal?
ICICI Health Insurance Renewal is the process of extending your existing health insurance policy for another policy period by paying the applicable renewal premium.
Renewing before the policy expiry date can help avoid a break in coverage. It also helps preserve eligible continuity benefits associated with the policy, subject to the applicable terms and conditions.
When Should You Renew Your ICICI Health Insurance Policy?
It is advisable to renew your policy before the expiry date mentioned in your policy document. ICICI Lombard states that renewal requests along with the required premium should ordinarily be received before the end of the policy period.
Avoid waiting until the last day if possible. Checking your renewal details in advance gives you time to review your coverage and resolve any issues before the policy expires.
How to Renew ICICI Health Insurance Online?
The online renewal process can generally be completed in a few steps:
- Visit the ICICI Lombard health insurance renewal page.
- Enter your existing policy number.
- Review the policy details displayed.
- Check the applicable renewal premium and coverage.
- Confirm the required details.
- Make the renewal premium payment online.
- Save the renewed policy document and payment confirmation.
The online renewal page requires the existing ICICI Lombard policy number to begin the process.
What Is the Grace Period for ICICI Health Insurance Renewal?
ICICI Lombard health insurance policy documents commonly provide a 30-day grace period for renewal after the policy expiry date. However, coverage during the grace period depends on the specific policy wording. For example, ICICI Lombard's Complete Health Insurance wording states that the policy can be renewed within 30 days to maintain continuity benefits, while coverage is not available during the grace period.
Therefore, policyholders should check the wording of their particular plan instead of assuming that the same conditions apply to every health insurance product.
Why Is Timely Renewal Important?
Timely renewal can help you maintain uninterrupted health insurance protection. A break in the policy can affect continuity-related benefits and may create complications when you need coverage.
Renewing on time can help you:
- Continue your existing health insurance coverage.
- Maintain eligible waiting-period credits.
- Preserve applicable accumulated benefits.
- Avoid unnecessary policy-lapse issues.
- Continue access to benefits according to your policy terms.
ICICI Lombard also states that renewal should not be denied simply because the insured person made a claim in the preceding policy years, subject to the policy conditions.
Can You Increase the Sum Insured During Renewal?
Depending on the policy and applicable terms, you may be able to modify your sum insured during renewal.
Before increasing your coverage, check the additional premium, waiting periods and conditions applicable to the enhanced portion of the sum insured. The exact options available can depend on the health insurance plan.
Does Health Insurance Premium Change at Renewal?
The renewal premium may differ from the previous policy period depending on factors such as the plan, age, coverage, applicable pricing and other conditions.
Instead of looking only at the premium, review what your policy provides for the amount you are paying. Check the sum insured, exclusions, deductibles, co-payments, waiting periods and other important conditions.
What Should You Check Before ICICI Health Insurance Renewal?
Before completing your renewal, review the following:
Policy Expiry Date
Check the exact date your existing policy ends and start the renewal process early.
Sum Insured
Consider whether your current coverage is suitable for your healthcare requirements.
Premium
Compare the renewal premium with your previous premium and understand any applicable changes.
Waiting Periods
Review the waiting periods and continuity benefits applicable to your policy.
Network Hospitals
Check whether your preferred hospitals continue to be part of the insurer's network.
Policy Exclusions
Read the exclusions and limitations carefully so you understand what is and is not covered.
Personal Details
Check your name, contact information, insured members and other policy details for accuracy.
Can You Renew After Making a Claim?
Yes, an existing health insurance policy can generally be renewed even if a claim was made during the previous policy period, subject to the applicable policy terms. ICICI Lombard's FAQ states that a health policy can be renewed after a claim.
A claim may, however, affect certain benefits such as a no-claim or cumulative bonus depending on the specific policy.
Can You Port Your Health Insurance Instead of Renewing?
If you are considering another insurer, health insurance portability may allow you to move your policy while retaining eligible continuity benefits, subject to applicable regulations and underwriting requirements.
ICICI Lombard states that portability can preserve accrued continuity benefits relating to pre-existing diseases, waiting periods and other time-bound exclusions, subject to continuous insurance coverage.
If you are considering portability, start the process sufficiently before the renewal date.
Final Thoughts
ICICI Health Insurance Renewal is an important step in maintaining health insurance coverage. Renewing before the expiry date can help avoid unnecessary interruptions and preserve eligible continuity benefits.
Before paying the renewal premium, review your sum insured, premium, waiting periods, exclusions, network hospitals and other policy conditions. If your healthcare needs have changed, also check whether your existing coverage remains suitable.
For online renewal, you can use the ICICI Lombard Health Insurance Renewal page.