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Guaranteed Renewability Conversion Option

Regular price $110.00

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Benefit & Definition:

The Guaranteed Renewability (GR) Conversion Option is a benefit that insures the conversion to our individual medical products, irrespective of the state of health of the insured at the time of conversion.

Enrollment Conditions:

  • Adherents should be aged between 0 and 64 years old (both inclusive).
  • Medical questionnaire is mandatory and should be filled by each insured at the first enrollment date and at each renewal date during the observation period.
  • Proof of an active insurance cover must be submitted at each renewal.
  • The conversion is applicable to IN-hospital & Ambulatory service.

Observation Period:

  • Applicants will obtain the right to convert their policies at the end of the observation period.
  • For members aged less than 55 years old, the observation period is 1 year.
  • For members aged between 55 and 64 years old, the observation period is 2 years.

Criteria of Conversion:

  • Proof of the last insurance cover should be submitted.
  • Conversion should be exercised at a maximum age of 64.
  • The conversion can only be activated when the previous cover stops, to avoid duplication of coverage.
  • The conversion should be exercised within 30 days of termination of previous cover due to the following reasons:
    1. Termination from employment.
    2. Retirement.
    3. Permanent return to home country for expats enrolled under an insurance plan in the country where they previously resided.

Termination of Cover:

The right granted under this option will be terminated in case of:

  • Attaining 65 years of age for the policyholder.
  • Attaining 25 years of age in respect of dependent children.
  • Marriage of dependent children (eligible for a separate policy with their spouse).

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