The facility of porting has also come in the insurance policy. Meaning, if you are not completely satisfied with the services of any insurance company, then you can easily port (change) your policy to another company. This process of changing the insurance company is called porting.
Health Insurance New: If you are also planning to port your health insurance policy to another company, then know some important things in advance. Some rules related to thi have also changed. The facility of porting has also come in the insurance policy.
Meaning, if you are not completely satisfied with the services of any insurance company, then you can easily port (change) your policy to another company. This process of changing the insurance company is called porting.
After the new changes, we are telling here about the important things related to portability.
Once you port your health insurance policy after getting all the information including premium
then the new company is free to decide the rates of your premium. If you are in the high risk category while in port, the new company may charge you a higher premium than the old company.
In such a situation, before porting, you should take information about it and you should gather complete information about the plans of not one but three-four insurance companies. After this, port your health insurance policy in the plan with which you are satisfied.
Understand the coverage, limits and sub-limits of the new company.
Many people port insurance policies because other companies are offering lower premiums. Understand the coverage, limits and sub-limits of the new company. This will save you hassle while making a claim.
Along with this, while changing the policy here, it is very important to keep one more thing in mind that if you are changing your policy by looking at the offer of the new company, then before that compare the offers of other companies with it.
In how many days the policy is ported
If you want to port your health insurance plan, then you have to start the process at least 45 days before the renewal of the health insurance plan. You will have to inform your current insurance company regarding porting the policy.
You will also have to provide information about the new insurance company. You have to renew the policy without breaking your term, hence there is a grace period of 30 days at the start of the porting process.
When problems arise, the company changesÂ
- poor company service
- less policy benefits
- insufficient cover
- not digital friendly
- room rent ceiling
- Complicated claim settlement process
- Delay in providing claim cover
- lack of transparency
