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Port Your Existing Health Insurance with InstaCover
Health Insurance Portability
Portability of a health insurance means you can port your existing health insurance policy from existing insurance provider company to another company of your choice. This also carries forward your NCB (No Claim Bonus) as well as your existing waiting periods (if any) to the new insurance provider company.
Why Port Your Health Insurance with InstaCover India
Simple Process
The process of porting your insurance is absolutely easy, the best thing, it's all online and paperless.Additional Sum Insured
Get additional sum insured for instances like critical illness and accidental hospitalization.Looking for Porting Health Insurance?
InstaCover India offers a variety of benefits and advantages in terms of covers and savings, so when searching for a good Health Insurance to Port, you need to look no further!
Call us now and we will do the best we can to help you out with your Health Insurance Porting needs
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IRDAI Health Insurance Portability Rules - All Simplified
On Type of Policy
A policy can only be ported to another similar type of insurance policy only, you cannot switch to a completely new plan.
On the Insurance Company
Insurance companies are of two types - Life and General Insurance; so make sure you migrate your policy to a similar type insurance company i.e. from a general insurance provider to a general insurance provider only and not the other way around.
On Gaps
Portability for a lapsed health insurance is usually rejected, so its best suggested to port your policy during renewal.
On Informing Your Insurance Company
You are supposed to notify your existing insurance company of the portability at least 45 days prior to the date of renewal.
On Grace Periods
Grace periods are offered in case if the portability of your health insurance is still under process. This however depends on how many days your policy was active for.
On charging porting fees
There cannot be any processing fee charged for porting a health insurance policy as mentioned in the IRDAI Guidelines of insurance portability.
On changes in premium
The premium changes depend on what offers you will be getting with the new insurance provider company as well as any addon that you may be willing to pay for to get most out of your insurance at the time of claim.
ON THE SUM INSURED AS WELL AS THE EXTENT OF COVERAGE
You can extend your coverage at the time of porting your policy as well decide on the sum insured; this however depends on the discretion of the insurance provider company's approval of your request.
On waiting periods
This is something that is not usually impacted on porting the policy; however, this again depends on the insurance provider company that you are going to port your insurance to.
When is the best time to port health insurance?
- Not satisfied with existing insurance provider company and its services
- Planning to move to a better plan available that has more benefits
What are the Documents Needed to be Eligible for Health Insurance Portability
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Existing copy of your policy and its schedule
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Proof of Identity
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Other Documents such as claim and medical history etc. depending on policy you choose
Existing copy of your policy and its scheduleWhat are the things that I can port with my Health Insurance Policy?
- All current Insured members
- Current Sum Insured
- Your Accumulated Cumulative Bonus
- Your Pre-Existing Disease Waiting Period
- Your Specific Disease Waiting Period
- Waiting period for Maternity Benefit if it is opted
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FAQs Related to Health Insurance Portability in India
The best time for health insurance portability is 60 days prior to the date of the renewal of your health insurance.
This totally depends on the fact that you have found a better insurance plan that your existing one, however, you have to wait till the right time comes and make sure you apply when its best for you.
Rejection is one of the primary issues faced by any individual at the time of porting health insurance as this completely depends on certain factors related to your policy maintenance history (such as claims made etc.) as well as on the discretion of the insurance provider company.
Yes, it is possible. This way you can also diversify your add-on and claim benefits. However, avoid going for two similar kind of plans as that would harm more than do good.
Yes, this is absolutely possible and can be done at the time of renewal.
Looking for Porting Your Health Insurance?
InstaCover India offers a variety of benefits and advantages in terms of covers and savings, so when searching for a good Health Insurance to port, you need to look no further!
Call us now and we will do the best we can to help you out with your Health Insurance Porting needs
