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Contributor
Posts: 30
Registered: ‎05-04-2017

waiting period on renewal of policy

If I increase my policy amount during my renewal of the Policy,do any waiting period apply?

2 REPLIES 2
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Contributor
Posts: 37
Registered: ‎10-03-2017

Re: waiting period on renewal of policy

Yes, if u change your policy amount during the renewal of your insurance policy,fresh waiting period will apply as per the terms and condition.

Highlighted
Contributor
Posts: 38
Registered: ‎03-06-2017

Re: waiting period on renewal of policy

Yes, waiting periods will be applicable afresh in relation to the amount by which the Sum Insured has been enhanced. For example,if you had a cover for 4 lakhs and you have completed your waiting period for the same , and now you at the time of renewal you increase the SI to 10 lakhs , then in that case the insured has to serv additional waiting period of the stipulated time to utilize the enhances SI for the PED.