Cholamandalam Health Insurance Renewal

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      Cholamandalam Health Insurance Renewal

      Cholamandalam Health Insurance renewal is crucial to maintain continuous medical coverage of a Cholamandalam health insurance policy. Opting for online renewal for their Cholamandalam health policy offers convenience, flexibility, and a hassle-free experience to the policyholders. However, it is essential to renew the policy before it expires so that policyholders can file medical insurance claims and avail a multitude of benefits.

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      Benefits of Renewing a Cholamandalam Health Insurance Policy Before Expiry

      Timely renewal of a Cholamandalam Health Insurance policy holds immense importance for the policyholders due to the following reasons:

      • Uninterrupted Coverage - By renewing their Cholamandalam health policy before the due date, policyholders can ensure medical coverage at all times. However, if policyholders fail to renew their policy on time, their medical coverage will cease, and they will no longer be eligible to make claims with the Cholamandalam MS General Insurance Company.
      • No Loss of NCB - To safeguard the No Claim Bonus (NCB), policyholders must renew their Cholamandalam medical insurance policy before it expires. Failing to renew on time results in the loss of NCB, which affects the policyholder's ability to enjoy enhanced coverage or discounts on future premiums.
      • Lower Premiums – Another advantage of renewing a Cholamandalam Health Insurance policy before it expires is that policyholders can avoid paying high premiums. Insurance companies mostly charge a higher premium to policyholders who renew their policy after the due date. Hence, on-time renewal can help them save a lot of money.
      • Tax Benefits - Policyholders can utilize the premium paid for Cholamandalam health insurance renewal to avail tax benefits under Section 80D of the Income Tax Act. However, if the policy lapses due to non-renewal, the policyholder will forfeit the opportunity to claim tax benefits.

      How to Renew a Cholamandalam Health Insurance Policy?

      Follow the steps procedure given below to renew a Cholamandalam health insurance policy online:

      Step 1: Go to the website of Policybazaar Insurance Broker Private Limited.

      Step 2: Navigate to the top of the page, click on the "Renew Your Policy" option, and then select "Health Renewal."

      Step 3: Enter your mobile number and the OTP that you receive on your number.

      Step 4: Provide the relevant details and pay the premium for your Cholamandalam health insurance renewal policy.

      Step 5: New users of Policybazaar.com can click on the ‘Health Insurance’ icon on the homepage.

      Step 6: Select your gender, enter your name, choose the family members to be insured and provide their respective ages.

      Step 7: Enter your city of residence or its pin code and provide your phone number.

      Step 8: Provide the necessary details regarding your medical history as required. 

      Step 9: Select the Cholamandalam health insurance policy to be renewed and pay the renewal premium online.

      Once Cholamandalam MS General Insurance Company receives the premium payment, your policy will be successfully renewed.

      Cholamandalam Health Insurance Renewal Grace Period

      All Cholamandalam Health Insurance plans provide a grace period that allows policyholders additional time after the policy due date to pay the renewal premium. By paying the renewal premium during the grace period, policyholders ensure that their Cholamandalam medical insurance policy does not lapse. 

      The grace period for Cholamandalam Health Insurance renewal varies from one plan to another. However, most health insurance plans typically provide a renewal grace period of 30 days.

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      Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

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