NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Mukesh Ambani
    WhatsApp
    Reliance Jio
    OPPO
    Vivo
    Sensex
    Bitcoin
    NewsBytes
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout


    India Business World Politics Sports Technology Entertainment Auto Lifestyle Inspirational Career Bengaluru Delhi Mumbai Visual Stories Find Cricket Statistics Phones Reviews Fitness Bands Reviews Speakers Reviews

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
     
    Home / News / Business News / #FinancialBytes: How to port your health insurance
    Business

    #FinancialBytes: How to port your health insurance

    #FinancialBytes: How to port your health insurance
    Written by Deepali Aggarwal
    Jun 21, 2018, 12:29 am 3 min read
    #FinancialBytes: How to port your health insurance

    Are you unhappy with your health insurer? Well, then you do have an option to port your health insurance to another insurer, which can offer you better facilities. But how does health insurance portability work? When can you do it and what all documents do you need to get it done? Find answers to all these questions here.

    What is Health Insurance Portability?

    Health Insurance Portability is a mechanism devised by the Insurance Regulatory and Development Authority (IRDA) of India which allows policyholders to transfer their existing health insurance policies from their current insurance provider to another provider, without losing the accumulated benefits.

    What can you port from old to the new insurer?

    When you port your health policy, your new insurer is required to insure you at least up to the sum you were insured under your old insurer. Your new insurer also has to give you the credit that you have gained under your old insurer related to the initial waiting period, waiting period for pre-existing ailments and waiting period for certain specified ailments.

    Rules governing portability of health insurance in India: Part 1

    You can port your health policy from one insurer to another, only if both are indemnity plans which cover hospitalization. You can only port similar health policies. However, both individual or family health policies qualify for portability. You can port your policy from any general/specialized insurance company to any specialized/general insurance company. Portability is allowed only during the renewal stage of a policy.

    Rules governing portability of health insurance in India: Part 2

    For portability, you need to inform your current insurer at least 45 days before the policy is due for renewal, in writing. Further, your current insurer must acknowledge such portability application within three days. Health insurance portability does not involve porting charges.

    Procedure for porting your health policy: Part 1

    The health insurance portability procedure begins with your portability application to your current insurer, which needs to be done at least 45 days before the policy is due for renewal. Then you need to fill up a portability form and upon acceptance of such request, the new insurer provides you with a proposal and a portability form, detailing its various available products.

    Procedure for porting your health policy: Part 2

    After that, you select a product, fill up and submit the proposal and the portability form to the new insurer. The new insurer then approaches the old insurer or log on to the IRDA website for details regarding your medical records, claim record etc. The new insurer is then bound to accept or reject your portability request within 15 days, otherwise it stands accepted.

    Finally, the documents you need for the portability process

    You need the following documents for porting your policy from one insurer to another: Previous years' policy certificates from your previous insurer Latest renewal notice of the health policy A self-declaration of the portability in case of a no-claim case In cases of claims made, you also need to have documents related to the made claim like the discharge summary, etc.

    Share this timeline
    Facebook
    Whatsapp
    Twitter
    Linkedin
    Latest
    India
    Health & Wellness
    Insurance

    Latest

    Happy birthday, Reese Witherspoon: 'Legally Blonde' actor's top 5 romcoms  Hollywood
    5 natural home remedies for knee pain  Health & Wellness
    These five planets will come together in late March Space News
    Is top-end Hyundai VERNA better than SKODA SLAVIA Style DSG Hyundai

    India

    6.6 magnitude quake in Afghanistan, tremors felt in North India  Earthquake
    India witnessed significant human rights violations in 2022: US report United States of America
    Bullish on India, but Lamborghini CEO is unhappy with infrastructure Lamborghini
    Can't confirm: US on providing India intelligence about China's incursion United States of America

    Health & Wellness

    Sendha namak vs regular salt: A comparison Food
    These homemade mosquito repellent sprays actually work Natural and Home Remedies
    Ever heard of wheel yoga? Here's everything about it Fitness and Health
    Stressed? Watch out for these 5 physical symptoms Lifestyle

    Insurance

    Health insurance is no more a choice but a necessity Health & Wellness
    Telangana official kills man, fakes death to claim insurance money Telangana
    #NewsBytesExplainer: What salary package, benefits Agnipath scheme offers to Agniveers Indian Army
    Woman contracts STD in car; vehicle insurer to pay $5.2M Missouri

    Love Business News?

    Subscribe to stay updated.

    Business Thumbnail
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2023