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Now in India Insurance Regulatory And Development Authority implemented health policy portability which makes that you can switch to any company.
Portability means transfer of the credit gained by the insured for pre-existing conditions and time bound exclusions if the policyholder chooses to switch from one insurer to another or from one plan to another plan of the same insurer, provided the previous policy has been maintained without any break.
A break in policy occurs when the premium due on a given policy is not paid on or before the premium renewal or within 30 days thereof.
A policyholder should apply to such insurance company at least 45 days before the premium renewal date of his/her existing policy for porting his/her policy.
The policyholder should fill in the Portability Form along with proposal form and submit the same to the insurance company.
If the insurance company does not communicate its decision to the requesting policyholder within 15 days of providing all the details as required by the insurer, the insurance company shall not retain the right to reject such proposal.
Portability is allowed to all individual health insurance policies issued by non-life insurance companies including family floaters policies.
Now in India Insurance Regulatory And Development Authority implemented health policy portability which makes that you can switch to any company.
Portability means transfer of the credit gained by the insured for pre-existing conditions and time bound exclusions if the policyholder chooses to switch from one insurer to another or from one plan to another plan of the same insurer, provided the previous policy has been maintained without any break.
A break in policy occurs when the premium due on a given policy is not paid on or before the premium renewal or within 30 days thereof.
A policyholder should apply to such insurance company at least 45 days before the premium renewal date of his/her existing policy for porting his/her policy.
The policyholder should fill in the Portability Form along with proposal form and submit the same to the insurance company.
If the insurance company does not communicate its decision to the requesting policyholder within 15 days of providing all the details as required by the insurer, the insurance company shall not retain the right to reject such proposal.
Portability is allowed to all individual health insurance policies issued by non-life insurance companies including family floaters policies.
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