Eign’s customized application features a renewal dashboard where clients can view upcoming renewals and review their investment and insurance details. Clients can also renew policies directly through the application at any time.
Implement automated reminders for clients with email and SMS notifications starts a month before renewal due dates. Alerts will cover policy renewals, SIP payments, and upcoming expirations. Additionally, a dedicated support team reviews the client’s financial assets in advance to ensure timely completion of renewals.
Direct Debit
Setup: For mutual funds and insurance premiums, encourage clients to set up auto-debit
mandates (ECS/NACH) to ensure timely payments and prevent policy lapses or SIP interruptions.
Transaction
Records: Maintain detailed records of all renewal payments and related transactions.
Policy
Documentation:Ensure that all policy documents and renewal confirmations are accurate and
easily accessible.
Issue
Management: Implement a system for handling payment errors or disputes, providing clients
with clear instructions on how to resolve issues.
Support
Access: Offer prompt customer assistance support for any payment-related inquiries.
To renew a lapsed policy, you generally need to pay the outstanding premium plus interest (if any). Some policies may require a health declaration or medical test. We’ll assist you with the specific process depending on the insurer.
Usually, you have a grace period of 30-90 days after the due date (depending on the insurer). After this period, the policy may terminate, so we recommend acting quickly.
We send renewal reminders via SMS, email, WhatsApp, and phone calls to ensure you don’t miss any important dates.
Yes! You can choose your preferred communication channel, and we’ll send reminders accordingly.
Of course! We’ll provide a detailed explanation of the sum insured, premium details, inclusions, exclusions, riders, claim process, and other important features specific to your policy.
Yes, many policies offer riders such as accidental death cover, critical illness cover, or hospital cash benefits.