New Delhi, Oct. 23 -- Health insurance needs to be renewed on time to keep the policy running without a break. Still, a renewal date can sometimes be missed because of travel, a forgotten reminder or a payment issue. This does not always mean that the policy ends immediately.

Health plans generally provide a grace period after the renewal date. What happens during this period, however, depends on the policy terms. Missing the grace period as well can affect coverage and existing policy benefits.

A grace period gives you some extra time after the renewal date to pay the premium. During this time, your mediclaim policy may still be renewed as per the applicable policy terms. However, if the premium remains unpaid even after the grace peri...