How to check if your insurance policy is still valid

You have not looked at your insurance policy in three years. The premium auto-debits from your bank, the documents are somewhere in a folder, and you are reasonably sure it is "active." Reasonably sure is not a sound insurance planning strategy. Here is how to actually check whether your policy is still valid in 10 minutes.

Lapsed policies are the most common — and most expensive — insurance mistake in India. A health policy that lapsed silently three months ago will not pay for tomorrow's hospitalisation. A term plan that lapsed will not pay your family if something happens. Take 10 minutes today and run through the checks below.

1. Find your policy number

Every policy has a unique policy number printed on the certificate. If you cannot find the document, search your email for the insurer's name. The welcome email and renewal reminders both contain the number. Without it, no portal lookup is possible.

2. Log into the insurer's customer portal

Every IRDAI-registered insurer has a self-service portal. Sign up using your policy number, date of birth, and registered email. The dashboard shows policy status, last premium paid, next due date, and current coverage. This single screen answers most "is it valid" questions in under a minute.

3. Check the premium payment history

Look for unbroken premium payments through the last cycle. Health and term policies usually allow a 30 to 90 day grace period after the due date. Beyond grace, the policy is considered lapsed even if the bank still shows the mandate as active. Check the most recent premium receipt date against today.

4. Verify the sum assured matches your records

Some policies, especially older ULIPs and traditional plans, reduce the sum assured if you skip premiums or if the unit value falls. Confirm the current sum assured matches what you originally bought. A "valid" policy paying out only half the cover is functionally lapsed for your real needs.

5. Confirm the nominee is correct

Names, relationships, and contact details of nominees become outdated. Marriage, divorce, parents passing, children growing up — all change who should receive the payout. Update nominees through the portal or by submitting the nominee change form at any branch.

6. Match the bank account on auto-debit

If your salary bank account has changed since the policy started, the auto-debit may have failed for months without you noticing. Check the registered bank account on the portal against your current active account. Update the ECS mandate if needed before the next due date.

7. Read the renewal terms carefully

Health policies often have age-band premium hikes or sub-limit changes at renewal. The policy may be technically valid but on much worse terms. Compare the renewed coverage and exclusions against the previous version. Significant downgrades may justify switching insurers via portability.

8. Verify hospital network for health policies

The cashless network changes every quarter. A hospital that was empanelled when you bought the policy may be off the list today. Check the latest network on the insurer portal, especially for hospitals near your home and workplace where you would actually go.

9. Look for any pending or settled claims

If you filed a claim recently, confirm the settlement status. Claim payouts can affect future premiums, sub-limits, and bonus accruals. A "valid" policy where the bonus has been wiped out by a claim history is still useful, but you need to know about it before renewal.

10. Print or save the latest policy schedule

Generate the current policy schedule from the portal and save a PDF. Email it to a family member who would file a claim if you cannot. The cleanest "is it valid" answer in an emergency is a current document that someone else can find quickly.

Common mistakes to avoid

• Assuming "auto-debit" means "active" — bank mandates can fail silently. Always check at the insurer end.
• Trusting the agent for policy status — agents leave companies; your policy stays. Use the official portal.
• Ignoring renewal SMS — these are not spam. Read them and verify against your records.
• Letting health policies lapse "to save money" — re-buying after a lapse means new waiting periods, new pre-existing exclusions, and potentially higher rates.

Tips for keeping all policies organised

• Maintain a single spreadsheet listing every policy, the insurer, policy number, sum assured, premium amount, due date, and nominee.
• Set calendar reminders 30 days before each renewal date.
• Share the spreadsheet with your spouse or a trusted family member.
• Re-audit every policy on the same day each year — pick a date you can remember, like your birthday or anniversary.

You can verify any insurer's IRDAI registration and complaints record on irdai.gov.in if anything looks off in your policy status.

Insurance only works when the policy is genuinely active at the moment you need to claim. Ten minutes today saves your family weeks of grief later. Make it a once-a-year habit and you will never face the worst-case surprise of a lapsed policy at the worst possible time.