Niva Bupa (Max Bupa) Health Insurance Renewal Process in India
It has become a necessity to purchase a medical insurance policy in the present pandemic situation, especially during a time where the cost of hospitalization and treatments is soaring. A health insurance plan can ensure you get immediate financial assistance when you need it most to pay for the unexpected medical costs such as domiciliary hospitalization and day-care services including pre and post-hospitalization costs and so on. But, the validity of most health insurance policies is for a year, therefore making the renewal important to continue utilizing the services of the policy for another year. Here, we shall look at the Max Bupa health insurance renewal process in detail.
Max Bupa (now Niva Bupa Health Insurance) is among the most reputed health insurance companies in India. It is a joint venture with True North, an Indian private equity company, and Bupa, which is a healthcare company based in the UK. Niva Bupa Health Insurance has an extensive network of over 4500+ hospitals under its wing, offering cashless treatments, and possesses a claim settlement ratio of 89.46%
Niva Bupa offers a variety of health insurance plans targeting a wide range of customers. They are:
- Niva Bupa Health Companion Insurance
- Niva Bupa Heartbeat Health Insurance
- Niva Bupa Criticare Health Insurance
- Niva Bupa GoActive Health Insurance
- Niva Bupa AccidentCare Health Insurance
- Niva Bupa Health Premia Insurance
- Niva Bupa Arogya Sanjeevani Policy Health Insurance
Why Renew your Health Insurance?
By failing with Niva Bupa health insurance renewal, the policy is not valid which should be avoided at any cost because it could lead to various problems. If the policy has a grace period, there is no reason to worry since it is the time offered by the insurance company to complete the payment of dues as a last measure.
There are plenty of benefits if you choose to renew Max Bupa health insurance such as a reduced waiting period, no-claim bonus, etc., which one cannot utilize due to non-payment of premiums for the next year.
Max Bupa Health Insurance Renewal Procedure
You can keep enjoying the benefits from the Max Bupa health insurance plan by simply renewing it on time. You can choose either Max Bupa health insurance renewal online payment or do so via an offline method too.
Follow the steps below to complete the Max Bupa health insurance online renewal:
- Step 1: Go to the official website for Max Bupa Health Insurance i.e., www.maxbupa.com
- Step 2: Click the ‘Renew’ tab on the website
- Step 3: Enter your current Policy Number as well as the date of Birth’, then click the button ‘Submit’
- Step 4: Go over the details of your health insurance plan and renewal premium
- Step 5: Pay the amount using the payment gateway provided by the insurance company.
The health insurance policy can be renewed through an offline method by calling the insurer on 1860-500-8888. Also, policyholders can renew their policies at their closest location or branch of Max Bupa Health Insurance.
5 Benefits of Niva Bupa Health Insurance
The health insurance policies of Niva Bupa offer a variety of benefits to the policyholders, which you may have to lose upon if Max Bupa health insurance premium renewal is not made on time.
- Cashless Medical Treatment: A strong network of tie-ups with all major hospitals are available throughout the nation. This means, a policyholder admitted to any one of these hospitals, need not pay anything to receive treatment. Niva Bupa shall settle all the costs that one may incur during their stay at the hospital, on providing the necessary documentation or health card or policy number. Cashless claims are the preferred method of payment among the masses, primarily due to the convenient and hassle-free reimbursement and the simplified documentation process.
- Coverage for both pre and post- Hospitalization: Health insurance policies now offer coverage that goes beyond the hospitalization cost only. They are now designed to cover the costs of post and pre-hospitalization which may include medical expenses as well as medical consultations, ambulance costs, and more related services, which were not covered under conventional policies earlier.
- No-Claim Bonus: Policyholders can make use of the no-claim bonus if there was no claim made during the previous year of having the policy. A policyholder is eligible to receive an additional discount in the form of a reduction of premium or an increase in insurance coverage. On completing the Max Bupa health insurance policy renewal, you will be able to benefit from the no-claim bonus.
- Health Check-up Facilities: If you choose to enroll in a health insurance plan and by paying the renewal premiums on time, you have the facility to undergo medical tests periodically, free of cost. This shall help you keep your health in check as well as remind you of any problems in your health during the initial stage itself.
- Co-Payment: The co-payment option can be utilized by a policyholder, wherein a certain amount of the cost of treatment is borne by the insured, and the remaining is taken care of by the insurance company. Niva Bupa health insurance plans offer its policyholders to opt for a co-payment option, thereby bringing down the initial down payment required by them to start the treatment, after admitting to the hospital.
Non-Renewal of Health Insurance Plan
If you do not make the Max Bupa health insurance policy renewal online or offline in time, you’ll lose benefits and insurance coverage. It is advised to make sure you pay your renewal premiums in advance to avoid losing your insurance as it can lead to much bigger issues including losing out on the necessary offering such as medical check-ups, OPD care, hospital cash, etc., which may lead you to peculiar situations.
Therefore, you must keep your policy up-to-date and make Max Bupa health insurance renewal payment online on time before the deadline while being aware of the implications of missing the timeline. One may also set up reminders to make sure you do not forget the last date of premium payment. If you decide to renew health insurance yourself on the internet, make sure you’re aware of the terms and conditions, so you are clear of any recent changes to the policy coverage, inclusions, and exclusions by visiting their website.
Niva Bupa Health Insurance Renewal FAQs
How do I renew my Niva Bupa (Max Bupa) Policy?
You can renew your Niva Bupa Health Insurance Policy both online and offline. For an online renewal, you need to visit the official website and do the premium transaction and click on the ‘Renew Now’ tab. Whereas, for an offline renewal, you need to contact the insurance company officials by calling on the toll-free number 1860-500-8888 and follow the procedure explained for policy renewal. Alternatively, you may even visit any Niva Bupa health insurance branch and renew your policy.
What is the grace period of Niva Bupa (Max Bupa) insurance policy renewal?
Niva Bupa (Max Bupa) health insurance policy comes with a 15 days grace period to renew. This grace period lasts for 15 days from the due date of renewal payment of your Niva Bupa policy.
What if my Niva Bupa health insurance is not renewed?
If you don’t renew your Niva Bupa health insurance plan on time or within the grace period, your policy will get lapsed. You will not be able to enjoy the benefits under your plan and you will then have to buy a new policy once again and wait for the waiting period too to get coverage and other benefits.
Why Renew Health Insurance Policy?
It is important to renew your health insurance policy on time because you will not be able to get any benefits with an expired policy. In order to continue the benefits of your health policy, you must renew it on time.
How to Renew Niva Bupa Health Insurance Policy Online?
You can easily renew your Niva Bupa Health Insurance Policy online by visiting the official website and filling in your policy number on the transaction page and clicking on the ‘Renew Now’ tab. Once the payment is successful, you will get a policy transaction number and a link to enter your complete application form. Your policy will be renewed once the application form is submitted.
Things to Know Before you Renew Health Insurance Policy
When you plan to renew your health policy, make sure to consider a few points like a need to increase your sum assured, and adding new members to the policy. Also, make sure to check for any changes in the terms and conditions of the policy. Moreover, if going for an offline renewal process, do carry the important documents required for policy renewal.
Benefits of Renewing Niva Bupa Health Insurance
If you renew it on time or within the grace period, you will save your policy from getting lapsed. Moreover, you will once again get access to more than 7,000 network hospitals and avail of cashless hospitalization. You will also enjoy a shorter waiting period and no-claim bonus. Besides, you will get cashless OPD coverage and 24x7 online customer care assistance. In short, you will continue to enjoy all the benefits under your Niva Bupa health plan.
How do I renew my expired Niva Bupa health insurance?
Many reputed insurance companies like Niva Bupa come with a grace period to renew your policy if you miss the expiry date of your policy. You can at once renew and continue getting the benefits from your policy by paying the due renewal premium during the grace period.
What is the renewal process of Niva Bupa Health Insurance?
The renewal process of Niva Bupa Health Insurance Plan can be followed online as well as offline, as per convenience. For the online renewal method, you need to follow the renewal steps by visiting the official website. For the offline renewal method, the policyholder needs to call on the toll-free number of the company 1860-500-8888 and make a request for the renewal and pay the due premium. You may even visit the branch of any Niva Bupa health insurance and get your policy renewal.