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What is cumulative bonus in health insurance?
An increased in the sum assured by a percentage of every claim free year is called Cumulative Bonus in health insurance policy. It is important to renew the policy without a break to avail cumulative bonus benefits.
How often do you have to renew your insurance?
Depending on your insurance company most policy's renew automatically every 6 months.
What does conditionally renewable mean with insurance?
Conditionally renewable policy grants the insurer a limited right to refuse to renew a health insurance coverage at the end of a premium payment period.
Shall we renew the 3 months lapsed health insurance policy?
As with all insurances, that depends on how much you are prepared to reduce risk within the envelope of your disposable income.
Can an health insurance company drop an individual health policy and or group health policy?
NO
What is a health insurance dedictable?
The expenses which do not come within the purview of Health Insurance Policy (duly provided in the Mediclaim Policy Prospectus) are called Health Insurance deductibles.
What are the advantages of a renewable term life insurance policy?
A renewable policy allows the policyowner to renew the coverage simply by paying additional premiums before the termination date without having to provide evidence of insurability (i.e. proving good health)Note: most insurance providers limit the number of times you can renew such a policy or set an age limit for renewals so make sure to pay attention to this when shopping for term life insurance if you plan on renewing your policy for some time.
When does an auto insurance policy lapse?
When you don't pay your monthly premium or you don't renew.
Can you suggest options for medical insurance?
Now a days there are many Insurance provider companies offering range of medical Insurance policies, like; individual health Insurance policy, family health Insurance policy, group health plans and others. HDFC ERGO is one of the leading health Insurance policy provider, you can check HDFC ERGO's health policies.
Does term life insurance refer to short term or long term?
Short. You can always renew the policy and extend it to being longer. But for term insurance it is for a short amount of time. Usually you can get good rates if your younger and in good health.
Can friends be added to health insurance?
No. Only legal dependents can be added to your health insurance policy.
What are the advantages of 20 year term insurance?
Term life insurance protects you for the term of the policy. You are not required to renew each term.
