The question of saving bonus is not as vital as maintaining continuity of your old policy that of 1994.
Moreover, it is also the duty of the insured to ensure that his policy is renewed in time.
Now coming back 2 the main issue note there are only 2 options left with you:-
1. to request your last insurer to renew the lapsed policy after taking medical reports for members covered therein.
2. to take-out fresh medicalim policy.
hope the information is of use to you.
IBS