How to Port a Mediclaim Policy

What is Portability Means?

Right Accorded to an Individual Health insurance Policy holder ( Including Family Cover)

Transfer of Credit Gained By the Insured for Pre-existing Conditions and Time Bound Exclusions.

To transfer from One Plan to another Plan with the Same Insurer

Provided the policy has been renewed with out any break in Insurance

Break in  / Grace Period has to be read as follows

If the Policy has not been renewed on the Scheduled Date of Renewal it is treated as Lapsed and Grace Period of 7 days was given as Grace Period as of Now but W E F 01/10/2011 it has to Read / taken as 30 days including the Date of actual renewal and the Date for which Presented for Renewal.

Time Duration of Portability ?

When a Insured / Policy Holder intends to Port his Mediclaim Policy from one Insurance Company to another Insurance Company He has to approach the New Insurance Company 45 day before the Scheduled Renewal Date of Porting Mediclaim Policy.

If the Policy Holder Fails to approach the New Insurer at least 45 days before the Scheduled Renewal date ,  the New Insurer is not liable to accept the Portability, but the New Insurer has the privilege to consider on  the Merit basis . it may vary according to the office / office heads..

If the Policy holder not aware of Portability , he comes to Know only on the Date of his / her Renewal , at that time he can request the present insurer to renew for a short Period of 30days on Pro-rata Basis, and he can approach the New Insurer to accept his proposal.

a)      The Present Insurer Shall not Cancel the Existing Policy until Such Time a Confirmed Policy of New Insurer is received or at the Specific written request of the Insured.

b)      The New Insurer , in all such cases reckon the date of the Commencement of Risk to match with date of Expiry of the short period, wherever relevant

After approaching the New Insurer for porting his / her Mediclaim Policy for what so ever reason he wants to retain / renew with existing insurer then the existing Insurer has to renew the Policy on the Regular Premium with out imposing any new condition.

Important Note

When a Insured opts for Portability , and approaches the New Insurer and the New insurer underwrites the Policy on Receipt of New Proposal & Portabilty Form Duly Signed by the Insured , The New Insurer will get the Track of the existing Policy through IRDA Portal as per Norms. When the New Policy is issued from the New Insurer it will governed by their Policy Condition of that New Insurer

Please Inform the Insured That in Portability only the Benefits of the policy will be Ported not the Conditions each and every Insurer has their own Condition as Filed with the IRDA at the time of approval of Plan