There is a set period of validity that comes with every health insurance plan. A health insurance plan can have a policy tenure of one year, two years, or three years, beyond which it demands renewal. If the insurance is not renewed in a timely manner, it will lapse, and the insured person would forfeit all accrued benefits, including waiting for period benefit and no claim bonus.

It only takes a few minutes to renew your health insurance policy. A health insurance policy can be renewed either online or offline, depending on the user’s preference. Most health insurance companies provide an online renewal option because it saves customers time and allows them to pay in a variety of ways. Regardless of mode, health insurance renewal must be prioritized.