HDFC Ergo Grace Period

sadbutterfly363

I have been using HDFC Ergo for a while and I have been very satisfied with their services. I have never had any problems with them. I am thinking of switching to another company, but I want to know what the grace period is for HDFC Ergo. I don't want to be without coverage for even a day. Can anyone help me out?

Surabhi_manjunath

The grace period of HDFC Ergo is the time allowed between the premium due date and the policy lapsing date. During this period, the policyholder still enjoys the coverage of the policy even though the premium has not been paid. The premium should be paid within this grace period to avoid lapse or cancellation of the policy. The grace period for HDFC Ergo products ranges from 15 - 30 days from the due date of the premium, depending on the plan. So be sure to pay your premium on or before its due date to make sure your policy remains in-force without interruption.

Prisha735

The grace period of HDFC Ergo, a health insurance service provider, is the period of time following the due date of your policy premium, during which you are eligible to pay the premium without any lapse in coverage. During the grace period, you can make the payment without any fines or late fees. Generally, life and health insurance plans by HDFC Ergo have a grace period of around 15 days. This means, you have up to 15 days to make the premium payment, before the coverage is considered cessated.

It is important to note that, HDFC Ergo or any other insurance provider doesn't provide a free-look period. Therefore, if you have already paid the premium, but decide to cancel the policy within the grace period, you won't receive a refund. Similarly, choosing to wait until the end of the grace period will also cause the policy to lapse if you miss the payment.

Make sure to always tries your best to make the premium payment instantly, as soon as you receive the due date notification. Doing so will secure your coverage and help you avoid unnecessary penalties or lapses in coverage.

Harsh984

The grace period for HDFC Ergo health insurance plans starts from 15 days of the policy incepting and lasts till 90 days. This grace period can only be availed if you are covered by HDFC Ergo health insurance policy before its expiry date. During this grace period, you’ll still be able to enjoy the coverage, even though the payment (premium) of the policy is overdue. The renewals that occur during the grace period do not overlap with new enrollment. So, you will not be able to avail the benefit of the grace period if your policy has already been renewed during that period. This grace period ensures that the policy holders have enough time to pay back the premium and keep their policy active.

ticklishcat533

The grace period of HDFC Ergo is the time period during which you are allowed to make a payment on your policy before it is considered to have lapsed. Generally, the grace period period varies between 15 to 30 days, depending upon the policy. It is important to check the fine print of your policy document to find out how long the grace period is for your plan. During the grace period, the policy remains in force and all coverage provided within the policy continues to be valid. However, if payment is received after the end of the grace period, a reinstatement fee may be charged depending upon the insurer's discretion.

HappyFish529

HDFC Ergo offers a grace period of 30 days, from the expiry date of the policy,to make premium payment in order to keep the policy active. If you fail to make the premium payment within the grace period, the policy is likely to lapse. A lapsed policy can be revived within a period of two years, subject to acceptance by the insurer. It is always advisable to go for premium payment on time to ensure continuous and uninterrupted coverage.