Policy Management
Comprehensive guide to renewing your Allianz international health insurance policy, including timeline, premium changes, coverage adjustments, and policy management
Allianz Renewal & Policy Management
This comprehensive guide explains everything you need to know about managing your Allianz international insurance policy, including renewals, coverage adjustments, and account administration.
Renewal Timeline & Process
Allianz follows a structured renewal process to ensure continuous coverage for policyholders:
Renewal Notification
Allianz sends your renewal notice approximately 45 days before your policy expiration date, containing:
- Updated premium information
- Any benefit changes or enhancements
- Policy documents for the upcoming year
- Renewal forms and instructions
Delivery methods: Email (primary), physical mail (if requested), accessible in your online portal
Review Period
You have time to review your renewal options and consider any needed changes:
- Compare any benefit updates
- Assess if coverage still meets your needs
- Consider alternatives if premium increases are significant
- Consult with your broker about optimizing coverage
Timeframe: 30 days to review and make decisions
Policy Adjustments
This is your opportunity to request changes to your policy:
- Add or remove dependents
- Adjust deductible levels
- Modify area of coverage
- Add or remove optional benefits
Deadline: Changes must be submitted at least 15 days before policy expiration
Renewal Confirmation
Confirm your intention to renew by:
- Completing the renewal form (if changes requested)
- Updating payment information if needed
- Signing any required documents
- Submitting through the portal, email, or to your broker
Note: Some policies have auto-renewal features if no changes are requested
Payment Processing
Complete payment for your renewed policy:
- Credit card payments processed immediately
- Bank transfers must be received before renewal date
- Payment plans set up for monthly/quarterly options
Grace period: 30 days after expiration date (coverage may be suspended during this time)
New Policy Documents
Receive your updated policy documents:
- Digital documents delivered via email/portal
- New insurance cards issued if requested
- Updated policy terms and conditions
- Confirmation of any applied changes
Delivery timeframe: 7-10 days after renewal confirmation
Understanding Premium Adjustments
Allianz calculates renewal premiums based on multiple factors. Understanding these can help you anticipate changes:
- Premiums increase as you move into higher age bands
- Typical age bands: 0-17, 18-25, 26-30, 31-35, etc.
- Larger increases typically occur at age 50+
- Average age-related increase: 3-8% per band change
Example: Moving from the 31-35 to 36-40 age band might increase premiums by approximately 5%, independent of other factors.
- Premiums increase as you move into higher age bands
- Typical age bands: 0-17, 18-25, 26-30, 31-35, etc.
- Larger increases typically occur at age 50+
- Average age-related increase: 3-8% per band change
Example: Moving from the 31-35 to 36-40 age band might increase premiums by approximately 5%, independent of other factors.
- General healthcare cost increases in your coverage region
- Technological advancements in medical treatment
- Varies significantly by region (higher in USA, lower in some Asian markets)
- Typically accounts for 5-10% of annual premium increases
Recent trends: Global medical inflation has averaged 7-9% annually over the past five years, significantly outpacing general inflation.
- Individual claims history impacts future premiums
- Group-wide claims experience for employer plans
- High-value claims may trigger individual assessment
- Claims utilization ratio affects community-rated policies
Note: Unlike some insurers, Allianz typically doesn’t impose claim-based surcharges for routine medical care, focusing instead on overall portfolio performance.
- New coverage additions or benefit improvements
- Regulatory requirements adding mandatory benefits
- Optional add-ons selected at renewal
- Policy upgrades to higher coverage tiers
Example: Adding maternity coverage typically increases premiums by 15-30% depending on age and plan level.
Premium Control Strategies
Consider these options to manage premium increases at renewal:
- Increase deductibles: Raising your deductible from 500 can reduce premiums by 10-15%
- Adjust coverage area: Excluding USA coverage can lower premiums by 20-30%
- Review optional benefits: Dental and vision coverage typically add 7-12% to premiums
- Consider co-payment options: A 20% co-pay option can reduce premiums by 15-20%
- Annual payment discount: Pay annually instead of monthly to save 3-5%
Making Mid-Term Policy Changes
While renewal is the ideal time for policy adjustments, Allianz does allow certain changes mid-policy:
| Change Type | Allowed Mid-Term? | Requirements | Processing Time |
|---|---|---|---|
| Adding dependents (newborn/adoption) | Yes | Birth certificate or adoption papers | 3-5 business days |
| Adding spouse/partner | Yes | Marriage certificate or proof of partnership | 7-10 business days |
| Removing dependents | Yes | Written request | 3-5 business days |
| Address/contact updates | Yes | New contact information | 1-2 business days |
| Payment method change | Yes | New payment details | 3-5 business days |
| Increasing coverage level | At renewal only | Updated application | With renewal process |
| Decreasing coverage level | Case-by-case | Written request with justification | 10-15 business days |
| Adding optional benefits | At renewal only | Renewal form | With renewal process |
| Changing deductible | At renewal only | Renewal form | With renewal process |
Policy Cancellation Options
If you need to cancel your Allianz policy, understand the following process and implications:
Continuity of Coverage
Maintaining continuous insurance coverage is critical for international health insurance. Allianz provides several options:
Renewal Guarantees
Allianz offers the following renewal assurances:
- Lifetime renewal guarantee regardless of claims or health changes
- No individual re-underwriting at renewal
- Premium changes based on standard factors, not individual health deterioration
- Guaranteed renewal even after serious medical conditions
Continuation Options
If your circumstances change, Allianz offers:
- Transfer from group to individual plans if leaving employer
- Continuation without new waiting periods
- Coverage for chronic conditions established during previous policy period
- No break in coverage during transitions
Portability Benefits
For internationally mobile clients:
- Coverage continuity when moving between countries
- Plan flexibility to accommodate changing residency
- Credit for satisfied waiting periods if upgrading
- No need for re-underwriting when changing regions
Lapse Prevention
To avoid unintentional coverage gaps:
- 30-day grace period for late payments
- Multiple renewal reminders (45, 30, and 15 days before expiration)
- Option to reinstate within 60 days with continuous coverage
- Payment flexibility during temporary financial hardship
Policy Document Management
Effectively managing your policy documents ensures you always have access to important information when needed:
Allianz provides comprehensive digital document management:
- MyHealth App: Access policy documents on-the-go
- Online Portal: Complete document archive available 24/7
- Digital ID Card: Always available on your smartphone
- Email Archives: Policy documents sent to your registered email
- Download Options: PDF versions available for offline access
Pro tip: Save important documents to your phone’s files for access without internet connection.
Allianz provides comprehensive digital document management:
- MyHealth App: Access policy documents on-the-go
- Online Portal: Complete document archive available 24/7
- Digital ID Card: Always available on your smartphone
- Email Archives: Policy documents sent to your registered email
- Download Options: PDF versions available for offline access
Pro tip: Save important documents to your phone’s files for access without internet connection.
For those preferring physical documentation:
- Request printed policy documents during renewal
- Physical insurance cards mailed to your registered address
- Policy handbooks available in print format
- Document binder provided for comprehensive plans
- Optional courier delivery for urgent document needs
Note: Some countries require physical insurance cards for hospital admission.
Best practices for managing your policy documentation:
- Keep all policy documents for at least 7 years
- Store digital backups in secure cloud storage
- Maintain a record of all policy updates and changes
- Save all correspondence regarding special approvals
- Keep proof of continuous coverage if changing insurers
Important: Tax authorities may require insurance documentation for health expense deductions.
Travel Notifications & Policy Adjustments
If your travel patterns change throughout your policy year, Allianz offers several ways to ensure your coverage remains appropriate:
Frequently Asked Questions
Renewal Support Services
Broker Renewal Assistance
Our licensed brokers offer comprehensive renewal support:
- Policy review: Detailed analysis of your current coverage vs. needs
- Market comparison: Benchmarking Allianz against competitors
- Premium negotiation: Advocacy for fair pricing and discounts
- Benefit optimization: Recommendations for cost-effective coverage
- Renewal meeting: Personal consultation to discuss options
This complimentary service ensures you receive the best value and appropriate coverage at each renewal.