IFFCO Tokio Health Insurance Renewal Process in India
Rashmi (26-years-old) stays in a PG in Pune and works in a media management company. Rashmi purchased a health insurance policy from IFFCO Tokio last year. Her IFFCO Tokio health insurance renewal date is next month, so Rashmi wants to know how she can accomplish her IFFCO Tokio renew health insurance process to enjoy the continuity of health insurance.
These days, everyone has adequate knowledge regarding the importance of health insurance. When you purchase a health insurance policy, you should take care of two things: first is the policy renewal, and second, the terms and conditions related to the claim process. Most health insurance plans are valid for only 1 year. To enjoy the benefits of the policy, you must renew it next year. Though your insurance company will send you a renewal reminder, it’s the core responsibility of the policyholder to renew the policy on time.
Health insurance renewal lets you enjoy the benefits of the plan under your health insurance policy. You need to pay the renewal premium during the grace period. If you can’t pay the premium or renew your insurance policy during the grace period, you will not get any benefits, including No Claim Bonus (NCB), the waiting period benefits, etc. To avail of the benefits of the policy, again you need to serve the initial notice period of 30 days.
Nowadays, health insurance renewal is a simple and convenient process. You must renew your policy after every policy term. You can renew the IFFCO Tokio Health Insurance policy in online or offline mode without any hassle.
IFFCO Tokio Health Insurance Renewal Online Process
Let’s take a look at the IFFCO Tokio health insurance renewal online process.
Step 1: Visit the Website
First, you need to visit the official website of IFFCO Tokio General Insurance and take a look at the Health Insurance page. Now, click on ‘Renew Your Policy’ to renew your policy.
Step 2: Provide your Details
Select your health insurance product. Now, enter all imperative details like the policy number, primary member first name, and primary member last name. Click on the ‘Search’ button.
Step 3: Pay Health Insurance Premium
For your IFFCO Tokio health insurance online renewal, you need to pay the premium amount online in the most convenient method.
Step 4: Renewal Confirmation
You will receive an email from the insurance company that will mention your transaction details along with your policy renewal confirmation.
IFFCO Tokio Health Insurance Renewal Offline Process
For offline IFFCO Tokio mediclaim renewal, you can get in touch with the customer care executives by dialing the toll-free number 1800-103-5499. You need to share your requirements with them.
You can also accomplish your health insurance renewal by visiting any branch of the insurance company. The experts of the company will help you in your renewal process. They will ensure that you can enjoy all the benefits of your policy without difficulties. You can even renew your policy through authorized agents.
IFFCO Tokio has over 20,000 branches and authorized agents in the country. So, you can easily find out the contact points of the company and renew your health insurance policy.
Benefits of Renewing your IFFCO Tokio Health Insurance
After your IFFCO Tokio mediclaim policy renewal process, you can enjoy the below-mentioned benefits.
- Enjoy all benefits of the policy without any interruption
- You are flexible to increase your sum insured amount
- You can add more family members as per your wish
- You are eligible for portability
- Tax benefits under section 80D of the Income Tax Act, 1961
Factors to Check before Renewing your IFFCO Tokio Health Insurance Policy
- Health Update: If there is any change in your health condition in the previous year, then you must inform your insurance company before renewing your policy. If you are not willing to continue your policy plan, inform at least 30 days before the expiry date of the plan.
- Payment of Premiums: During the renewal process of your IFFCO Tokio insurance policy, you must pay the policy premium to enjoy all the benefits of your health insurance policy. The receipt that you get from the insurer is proof of the policy holder’s commitment to using the benefits of the plan.
- Grace Period: Very often, policyholders fail to renew their plans in time. So, IFFCO Tokio insurance company offers a grace period of 15 days in which the policyholder needs to pay the premium amount. If the insured member pays off during this time, then the policy will remain valid and the insurer can enjoy all the benefits of the policy without any hindrance.
- Policy Portability: During the time of renewal of your IFFCO Tokio health insurance plan, you can upgrade your plan to another plan with higher benefits or you can migrate to a new policyholder without losing your accumulated benefits. As a policyholder, you should intimate your insurance company at least 45 days before the expiry.
Things to Consider for Health Insurance Policy Renewal from IFFCO Tokio
- The insurance company will not sanction any claim for the period between policy expiry and renewal
- If you don’t pay the renewal premium within the grace period, your policy will lapse
- If you deny your health insurance renewal, your insurance company will ask you for an explanation for such a move
- If you want portability, then you will be eligible for all your accumulated benefits
IFFCO Tokio health insurance is a pre-eminent company that holds an unprecedented reputation in the market. If your policy plan expires within a few days, you must renew it without any fail so that you can stay protected against various diseases and medical inflation.