Health insurance renewal: key points on sum insured and terms

As health insurance policy renewal season approaches, policyholders must review their sum insured, policy terms, and evolving healthcare needs before renewing. The sum insured should be sufficient to cover current medical costs, which have risen due to inflation and new treatments. Experts suggest considering a top-up plan if the existing cover is inadequate.

Policy terms such as waiting periods, co-payment clauses, and sub-limits on room rent or specific treatments need careful examination. Changes in personal health, family size, or lifestyle may require adjustments to the policy. Policyholders should also check for any new features or discounts offered by insurers at renewal.

Renewing on time is crucial to avoid a break in coverage and the reapplication of waiting periods. Comparing plans from different insurers can help in finding better benefits or lower premiums. The decision should balance adequate coverage with affordable premiums.