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Do you know that you can port your health insurance? Are you aware of the pros and cons of health insurance portability? Read on to know all about it.
Health is the supreme important thing for every individual and off-late people across the globe have started giving equal emphasis to health. This can be seen from the spreading out of the insurance sector, especially health insurance, in our country too. Unlike earlier, people these days insure their health with multiple health plans to secure them against medical emergencies as well as against age related health conditions.
Of course, medical health insurances are serving as boons to all. And the facility of insurance portability has made things all the more convenient for people, especially those who are unhappy with their insurance policy or insurer due to any reason.
It is the facility offered by IRDA or Insurance Regulatory Authority of India where an individual who is not satisfied with his/her current policy can port health insurance from one insurance provider to another. Further, the insured will not lose any of the benefits that the person is availing from his/her current health insurance policy provider. Moreover, health insurance portability also allows the insured to port his/her plan from individual policy to family floater policy.
There can be varied reasons why an insured would like to port his/her health insurance plan from one insurer to another. Below are some such reasons:
Here are the things that you should remember before opting for portability of health insurance:
Below are the health insurance portability rules that you must know:
If you want to know how to port health insurance policy, here’s what you need to know:
Yes, insurance companies have the right to either accept or reject a portability request. Below are the factors why an insurer might reject a portability request:
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