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IRDA Allows Portability Of Health Insurance
I want to know the rights of Portability of Health Insurance offer by Insurance Regulatory and Development Authority?
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Re: IRDA Allows Portability Of Health Insurance
As per your concern I will let you know Insurance Regulatory and Development Authority, rights of Portability of Health Insurance scheme. Here are the rights You can port your policy from and to any general insurance company or specialised health insurance company You can port any individual/ family policies Your new insurer has to give you the credit relating to waiting period for pre-existing conditions that you have gained with the old insurer Your new insurer has to insure you at least up to the sum insured under the old policy The two insurers should complete the porting as per the timelines prescribed in the IRDA (Protection of Policyholders’ Interests) Regulations and guidelines Conditions of scheme You can port the policy only at the juncture of renewal. That is, the new insurance period will be with the new insurance company Apart from the waiting period credit, all other terms of the new policy including the premium are at the discretion of the new insurance company At least 45 days before your renewal is due you have to Write to your old insurance company requesting a shift Specify company to which you want to shift the policy Renew your policy without a break (there is a 30 day grace period if porting is under process) Address:- Insurance Regulatory and Development Authority 3rd Floor, Parisrama Bhavan, Basheer Bagh HYDERABAD 500 004 Telangana State (INDIA ) Phone:- (040) 23381100
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