Conditions regarding health insurance #portability
IRDAI imposes some terms and conditions and deadline for all policyholders willing to port their mediclaim policy have to maintain. Policyholders in India also have to go by guidelines set by IRDAI. Here are some vital guidelines about portability of health insurance in India.
Medical insurance portability can be done only at the time of health insurance renewal
Mediclaim policyholders need to make application a minimum of 45 days before their health insurance renewal
Both the existing health insurance company and the new health insurance company where mediclaim insurance policy will be ported must be aware of this decision of policyholders.
New health insurance company can rightfully work out the terms and conditions of the best health insurance policy in India
New health insurance company has to retain the benefits accumulated by the mediclaim policyholders from their previous providers.
Mediclaim policyholders can select between individual and family floater policies for their new medical insurance policy.
The new health insurance company can turn down the request of portability if mediclaim policyholders don’t pay their premium in time.
Policyholders get 30 additional days if their porting is under process.
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