What is the duration of a health insurance policy?
We will explain to you how the duration of the health insurance policy works, when it expires and its renewal.
Health insurance contracts are typically renewed automatically every 31 December unless one of the parties does not wish to renew the contract. Thus, the term of an insurance contract is calculated in periods of twelve months, by calendar years.
Therefore, the health insurance contract is automatically renewed for a period of twelve months at the end of the year. The insurance will be renewed for a further year unless the customer requests to cancel the policy.
Health insurance policies expire on 31 December each year. Therefore, you must notify the company formally one month in advance to request cancellation of the policy.
Other individual policies, such as death, home, life and accident insurance, expire on the date the policy was taken out, i.e. a policy expires twelve months after its effective date. Therefore, you must request to cancel the insurance policy at least 30 days before this date.