Not happy with the service of Health Insurance company?

Blog : Health insurance portability allows you to change the company of the policy. Under this facility, if you are not satisfied with your old insurance company, then you can definitely change the company.

If you also want to port your health insurance policy to another insurance company, then before that you should take care of many important things like premium and waiting period. Today we are telling you about the process of portability and the important things related to it.

Documents required for porting a health insurance policy

• proposal form
• portability form
• identity proof
• address proof
• claim history
• medical history

You have to approach the new insurance company at least 45 to 60 days before the expiry of the existing policy once you have decided to port the policy.

A copy of the policy has to be submitted by filling the portability proposal form. After accepting your application, the new company will contact your old insurance company to find out your medical and claim history. Based on this, it will accept or reject the portability proposal.

The new insurer will look at your current health, not yours when you took the first policy. Considering your current health, you may demand a certain amount as co-pay or increase in premium.

That is, you should know that, on getting the policy ported, you may have to pay a higher premium in the new company. So, it should be clear why you want to port your existing health insurance policy.

Waiting period will have to be completed after increasing the insurance cover

If you choose to increase the sum insured cover, keep in mind that the waiting period benefit will be applicable only on the old sum insured. You will have to complete the waiting period with the new insurance company for the additional sum insured.

Understand the coverage and limits of the new company

Many people port an insurance policy because another company is offering a lower premium. Understand the coverage, limits and sub-limits of the new company. This will save you from mistake while making a claim.

More :

Health insurance portability gives the freedom to explore the offers available in the market. But before choosing the option of portability, it is important to calculate its pros and cons correctly. It would be better to do a comparative study of the offers. Take a decision only after this, so that later there is no disappointment.