Importance of Lifetime Renewability in Health Insurance
Written by Mariyam Sara
2 min read | Updated on November 11, 2025, 18:49 IST
What Does Lifetime Renewability in Health Insurance Mean?
Importance of Lifetime Renewability in Health Insurance
Benefits of Lifetime Renewability in Health Insurance?
Factors to Consider Before Renewing Your Existing Health Insurance Plan
Upstox is a leading Indian financial services company that offers online trading and investment services in stocks, commodities, currencies, mutual funds, and more. Founded in 2009 and headquartered in Mumbai, Upstox is backed by prominent investors including Ratan Tata, Tiger Global, and Kalaari Capital. It operates under RKSV Securities and is registered with SEBI, NSE, BSE, and other regulatory bodies, ensuring secure and compliant trading experiences.
Health insurance is a financial tool designed to protect you against medical emergencies. The government is actively making efforts to educate and create awareness about health insurance and its benefits. But there is one feature that is often overlooked when buying health insurance: Lifetime Renewability.
Let’s understand the lifetime renewability feature and its benefits.
What Does Lifetime Renewability in Health Insurance Mean?
Lifetime renewability features in health insurance give policyholders the facility to renew their policy without any age restrictions. It eliminates the need to apply for a new insurance policy after the policy expires, providing continuous coverage even in old age.
As per Insurance Regulatory and Development Authority (IRDA) regulations, all insurance providers have to offer lifetime renewability features in their plans so the insured is protected against chronic illness and age-related diseases.
Importance of Lifetime Renewability in Health Insurance
Lifetime renewability is an important feature that your health insurance must have, as this ensures you are covered against age-related illnesses at the same premium. In insurance, as your age increases, the premium increases as well.
Lifetime renewability features allow you to continue your insurance plan with the same coverage regardless of your age and pre-existing diseases. Your health insurance plan has an expiry date specified in the policy. After the due date, you will have an additional 15 days to renew your insurance policy.
Benefits of Lifetime Renewability in Health Insurance?
Here are the benefits of having a lifetime renewability feature in your health insurance plan.
Continuous Coverage
Lifetime renewability features ensure that you get continuous health coverage throughout your life.
No Age Restriction
Usually, with age, the risk of diseases increases, which hikes up the premium if you apply for a new insurance policy. With this feature, you have the freedom to renew your insurance plan regardless of your age.
No Need to Reapply For A New Insurance Plan
You don’t have to deal with the hassle of applying for a new health insurance plan and can continue the existing policy by renewing it.
Continuous Financial Security
Insurance provides financial security in times of health emergencies, and having uninterrupted coverage offers continuous financial security.
Lower Long-term Premiums
When you take health insurance with a lifetime renewability feature early in life, your cumulative premium costs are lower.
Better Access to Healthcare
Lifetime renewable health insurance is a must for senior citizens as it provides continuous coverage with access to better health care.
Factors to Consider Before Renewing Your Existing Health Insurance Plan
Here are some factors before renewing your existing health insurance plan:
Check Policy Renewable Date
Review your policy documents and check the expiry date of your insurance plan so you can renew your insurance plan on time.
Review Policy Terms
Review the sum insured and the coverage to check if it suits your current health requirements. If you need to make any changes to the insurance plan, contact your insurance provider to add the new conditions to the renewed policy.
Premium Payment
If you don’t make any changes to your insurance plan, you may be charged the same premium. It is wise to pay your premium on time to avoid having your policy lapse and may result in penalties.
Health insurance is a great investment that offers protection against unforeseen health crises by reducing your financial burden. Pick an insurance policy with a lifetime renewability feature that suits your healthcare requirements.
About Author
Mariyam Sara
Sub-Editor
holds an MBA in Finance and is a true Finance Fanatic. She writes extensively on all things finance whether it’s stock trading, personal finance, or insurance, chances are she’s covered it. When she’s not writing, she’s busy pursuing NISM certifications, experimenting with new baking recipes.
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