Things You Must Know About Health Insurance Portability

In the past few years, health insurance providers have drastically transformed their working patterns, insurance plans, and customer care services to meet the changing demands of the people. One of the significant transformations has been in the field of digitization. Today several insurance providers offer the option of buying your health insurance online.

With so many changes happening, even the customers have become more aware and want to opt for an insurance provider that offers extensive benefits and the best customer service. Hence, they may wish to change their insurance providers during an ongoing policy term. There are also other reasons why people want to go for health insurance portability such as-

- A change in the lifestyle such as income levels, health conditions, marital status, etc.

- Detection of some hidden clauses in your current plan that you were unaware of.

- The need for specialized coverage that is not currently offered.

- Better services being offered by some other insurer like faster claim facility, premium prices, etc.

How to Port your Health Insurance Cover

You can switch your insurance providers anytime during the policy tenor. But it is always advisable to make a switch closer to the end of your renewal period so that your premium amount does not get wasted. According to a clause mentioned by IRDA, you must apply for health insurance portability 45 days before renewing your existing policy cover.

Other things that you need to know are-

- Notify your current insurer about your will to port the plan.

- Let your insurer know which company you want to port.

- Fill a proposal form provided by the new insurer, filling in the details of the old policy.

- Make sure your renewal process completes without a break, although you do have a 30-day grace period.

To know more about health insurance portability and the details of health insurance covers, you can visit health insurance portability Bajaj Finserv’s website.

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