Now the facility of porting has also come in the insurance policy. Meaning if you are not completely satisfied with the services of an 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 this have also changed. Now the facility of porting has also come in the insurance policy. Meaning if you are not completely satisfied with the services of an 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, here we are telling about the important things related to portability.
If you port your health insurance policy after getting all the details including the premium , the new company is free to fix your premium rates. During the port, if you are in the high risk category, 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, get your health insurance policy ported in the plan with which you are satisfied.
Understand the new company’s coverage, its limits and sub-limits
Many people port the insurance policy because the other company is offering a lower premium. Understand the coverage, limits and sub-limits of the new company. This will save you from the hassle while making the claim. Along with this, it is very important to keep one more thing in mind while changing the policy, that if you are changing your policy after seeing the offer of the new company, then before that compare the offers of other companies.
In how many days does the policy port
If you want to port your health insurance plan, 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 when the porting process starts.
When problems arise, the company changesÂ
- bad company service
- low profit in the policy
- insufficient cover
- not digital friendly
- reduction in room rent limit
- Complex Claims Settlement Process
- Delay in providing claim cover
- lack of transparency
