Here’s How To Port A Health Insurance Policy

If you are not satisfied with your existing health insurer, you can shift your policy to another insurer. Moving a policy from one insurance company to another is referred to as porting. Health insurance policies are, typically, year-long contracts, though multi-year contracts are also available. All health insurance policies in India are portable, according to the Insurance Regulatory and Development Authority of India (Irdai) guidelines. Migrating or porting your plan from one insurer to another is a fairly simple process. That said, here’s what to know for smooth porting of policies. Things To Check Before Starting The Process The portability process needs to be started at least 45 days prior to renewal. The new policy offers continuity benefit in case of waiting period, which is the time till which you may have to wait before the insurer provides you with a cover. For...