Insurance Portability is a concept wherein an insured person who is not satisfied with the products and services of his/her existing insurance provider can change the existing insurance company with another. One of the major benefits of this facility is that an individual can opt for a similar product and keep his/her previous details such as coverage and other benefits that were previously part of the insurance plan.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
Who would you like to insure?
Do you have an existing illness or medical history?
This helps us find plans that cover your condition and avoid claim rejection
What is your existing illness?
Select all that apply
When did you recover from Covid-19?
Some plans are available only after a certain time
Currently, the facility of insurance portability is applicable to only health insurance policies in India. The portability option is now allowed in case of all family floater policies and individual plans issued by health insurance as well as general insurance companies. The benefits that can be transferred in such scenarios are:
So if you change your health insurance policy from one insurance service provider to another, you do not have to lose the benefits you have accumulated in your existing policy. However, the process of shifting your health insurance policy from one insurer to another is not that easy. The major problems faced in processing such critical data are: coverage against previously existing diseases/ailments; Claim history (with details of all previous claims) and present health status of the proposer or insured.
The Insurance Regulatory and Development Authority of India (IRDAI) has laid down some rights to protect you when porting your policy to any other insurer of your choice. The organization says that your new insurer “shall allow for credit gained by the insurer for pre-existing conditions in terms of waiting period.”
The documents required for insurance portability application are:
Some conditions laid down by the IRDA for porting your policy are:
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