Renewal
What it means, and what it does to a claim.
Continuing the same policy for another term by paying the premium, keeping everything you have already accrued.
Why it matters
Health policies in India are renewable for life, and an insurer cannot refuse renewal because you claimed. What they can do is reprice the whole product. Renewing on time is what protects your waiting-period credit — the value of a health policy is mostly the years already served on it.
The legal definition
Renewal means the terms on which the contract of insurance can be renewed on mutual consent with a provision of grace period for treating the renewal continuous for the purpose of gaining credit for pre-existing diseases, time-bound exclusions and for all Waiting Periods.
Quoted verbatim from an IRDAI-filed policy wording. Definitions are standardised across insurers, but the limits attached to them are not — always read your own policy schedule.
Plans where renewal matters
- Care Health Care Supreme — No limit on ₹10 L and above
Related terms
- Break in Policy — A gap between one policy period ending and the next beginning, because the premium was not paid in time.
- Grace Period — A short window after your renewal date in which you can still pay the premium and keep the policy continuous — typically 30 days.
- Portability — Moving your health policy to a different insurer without losing the waiting periods you have already served.
- Waiting Period — A stretch of time at the start of a policy when certain conditions are not covered yet.
Disclaimer: Figures shown here are compiled from IRDAI annual reports and public grievance disclosures, and from insurer public disclosures and policy wordings. Claim settlement ratios and complaint volumes are three-year averages for FY 2024–26. Premiums are indicative illustrations for the stated profile, not quotes — your actual premium depends on your age, health, city, habits and underwriting. Scores are Myinsurancebro's own assessment. Always read the official policy document and speak to an advisor before buying. Myinsurancebro is an IRDAI-licensed insurance advisor — we do not manufacture or underwrite any insurance product.