Health insurance portability is the process of moving from your existing insurance policy from one provider to another without losing accrued benefits such as free medical check-up, no claim bonus (NCB) or waiting period credit. It allows you to shift from existing company to another with better benefits without losing most accumulated renewal benefits.
You can initiate the process through an online request to the new insurer at least 45 days before renewal of your existing policy is due. Once all documents are received, the company has 15 days to either accept or reject your portability request. In case of delay beyond this period, your application is automatically accepted.
Notably, however, portability is only available at time of policy renewal and cannot be undertaken when the existing health policy is due for renewal or at any time throughout the policy year.
Health Insurance Portability: Top FAQs answered
Is health insurance portability available in India? You can transfer your health insurance policy from one company to another by raising a portability request with the new insurer at least 45 days before your existing policy’s due date. You can switch health insurance companies in India with the facility.
Can I change health insurance companies anytime? No. This option is only available at the time of renewing your current policy.
What is the IRDAI rule for porting? ‘s rules state that you can switch health insurance providers at the time of policy renewal with request made 45 days before your existing policy’s renewal. The accumulated benefits of the current policy shall be carried forward to the next policy as well (like NCB, waiting period for pre-existing disease, etc.). It is essential that you port to the same policy type.
Does this include my existing mediclaim policy? You can port your existing policy, but only at the time of its renewal.
Are there any charges for portability? There are no specific charges for health insurance portability. You also do not have to pay any additional premium amount to port your health insurance policy. You only need to pay the premium of the new health policy.
Can I port my group health insurance policy to an individual policy from another insurance company? You can port your existing group policy to an individual health policy from another insurance company. But first, you need to convert your group health policy into an individual health policy offered by your current insurer. After one year, you will be eligible to port the policy to an individual health plan offered by another company.
What is the timeline for portability process? As per the IRDAI’s guidelines, a health company must acknowledge a portability request within three days of receiving it. However, they need to either accept or reject a portability request within 15 days of receiving all requested documents. In case of any delay, they will have to accept your portability request.
How many times can health insurance be ported? You can port your health insurance policy as many times as you like, provided the new insurance company accepts your portability requests. However, porting is possible only at the time of existing policy renewal.
Can I port if I have pre-existing conditions? You can port your health insurance policy even if you have a pre-existing condition, provided the new insurer accepts your portability request.
Can all health plans be ported? You can port all health , but with the same plan type. For example, you can port a family policy to another family policy only, and a top-up policy to another top-up policy only. Knowing how the health insurance portability works ensures fewer chances of portability request rejection.
What is the difference between migration and portability? If you change your health within the same insurance company, then it is called migration. However, if you switch your health policy to a policy from another insurance company, then it is known as portability.
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