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10 things you should check before renewing your health policy

Your Health Policy needs a reality check when you renew next time as it could have some aspects which you have been ignoring all this while. Policies bought through your old agent, online for it being the cheapest in the market and through an offering by any institute would certainly have shortcomings which could shock you in a situation of any eventuality. Please check below some of the important features your policy has before renewing this time as you might be a frog in well who knows nothing of the ocean.  Below are the 10 points needed to borne before you decide to renew your policy next.


  1. Room Rent:- An important aspect which needs verification immediately as policies bought over the last decade has a restriction linked to Sum Assured (SA) and it can prove to be dear to you in case you have a low SA. 

  2. Cumulative Bonus:- Many policies including old ones add cumulative Bonus of 5-10% of SA per year whereas the new policies add 50% of sum insured, up to a maximum of 150% subject to claim free years. 

  3. Restore Benefit:- Another important feature which is not available in the old policies and in most of the policies issued by PSU companies. The feature restores the SA in case the Sum Assured along with the cumulative bonus gets exhausted during the treatment. 

  4. Maternity Cover:- The coverage important for young couples where expenses up to Rs.50, 000 in case of birth of a boy and Rs.60, 000 in case of birth of a girl, after a waiting period of 24 months is available. 

  5. Pre and Post-hospitalization expenses:- Old policies have coverage for 30-60 days for pre and post hospitalization whereas it’s available for 60-180 days in the new policies. The feature comes handy especially when the expense of pre and post hospitalization is many times more than the expenses of hospitalization.

  6. Health Check-up:- The old policies give benefit once in 4 years and the new policies pay for expenses for complimentary preventive health check-up up to 1% of sum insured, max. Up to Rs.10, 000 every year irrespective of claims. 

  7. OPD Treatment including Dental:- Covered up to Rs.5000-10000 per policy year, after waiting period of 24 months. 

  8. Accidental Death Benefit:- Payment up to 100% of sum insured in case the insured meets with an accident resulting in death.

  9. Consumables Benefit:- The expenses incurred on items consumed by the insured during hospitalization and which are related to insured’s treatment. The benefit has come in highlight especially during the pandemic as many found that their policies didn’t cover the hefty amount of consumables during the treatment. 

  10. Global Cover:- It Covers Medical expenses of the Insured Person incurred outside India, up to the sum insured provided that the diagnosis was made in India and the insured travels abroad for treatment. Very few policies give such coverages as it is expensive and viable only when one buys a policy with higher SA.

We have listed above only few features which are important for one to understand before buying or renewing the policy. It is hard to believe that one could be lenient with health policy which is an important aspect of your financial planning. IRDA allows portability of the health policy as we do with our Motor Policies and it is advisable to do the same while you are hale and hearty. It would be sensible to re-examine your policy today and seek guidance from an expert who can help you to with right solution with your Health Plan.