China Health Insurance Renewals
The renewal process is the most important part of any insurance plan. When you purchase an international health insurance plan you will find that it covers you for 12 months and then needs to be renewed. You can then choose to continue with the same plan or find a new insurer. In the vast majority of cases the renewal is guaranteed even if you have developed a chronic health condition while the policy was in place.
Premiums for international health insurance will always be calculated on the age of the policyholder along with the geographical area in which they are living. The claims history of the policyholder is never a factor, so no matter how many claims you have made while you have the insurance, the premiums will not reflect this the following year and all those in the age group will generally pay the same amount for their insurance. This is known as ‘community rated’ and you need to find out if your policy is community rate or individually rated before you agree to the policy. When a policy is individually rated – some policies are – then premiums will rise according to the amount of treatment that you have had in the previous year.
A month before your policy is due to expire/renew you will receive a notification that explains the terms of the renewal. This will detail any changes in the policy including changes to coverage and the premiums. You will be able to review the exact terms and conditions and you have time then to decide if you want to renew or find a new policy. If you want to renew the policy all you have to do is sign and date the notice and return it to the insurer. There is often an option to ‘auto renew’, which will complete the renewal automatically on your behalf. If you choose this option you will receive a notice that confirms that the automatic renewal has taken place.
It can be confusing when you are renewing your plan but we can help you by guiding you through the process step by step. We can handle your policy administration and work as a liaison between you and the insurer to make sure that everything runs smoothly with your renewal. With so many years of experience in China we are able to offer you a unique service that offers you peace of mind as well as comprehensive healthcare cover that will take care of you and your family.
If you want to find out more about renewing a healthcare policy then contact one of our advisors who will be happy to provide you with all the information that you need.