Bajaj Allianz Health Insurance Portability

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      Bajaj Allianz Health Insurance Portability

      Bajaj Allianz General Insurance Company presents an innovative feature, Health Insurance Portability. Individuals with health insurance from other insurers to switch quickly to a Bajaj Allianz health insurance policy. During this transition, policyholders can personalize insurance benefits while retaining the advantages of their current plan. The portability process can be initiated around 45 days before the current policy's renewal date.

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      Benefits of Porting to a Bajaj Allianz Health Insurance Policy

      Here are some of the key benefits of porting to a Bajaj Allianz health insurance policy:

      • NCB Retention Bajaj Allianz health insurance portability ensures no loss of accumulated No Claim Bonus (NCB). The NCB earned under the previous policy is retained and is added to the new Bajaj Allianz health insurance plan.
      • Improved Sum Insured Value-While porting a medical insurance policy to a new insurer, the cumulative bonus of your last policy is added to the new sum insured value. It results in a higher sum insured value and more significant benefits. Moreover, the NCB is also included in your new policy coverage amount.
      • Opt for Better Coverage Benefits With Bajaj Allianz health insurance portability, individuals can opt for improved coverage and enhanced benefits, such as a quick claims process, limitless restoration benefits, yearly medical check-ups, outpatient department coverage, and more, incurring no extra charges.
      • Continued Waiting Periods When policyholders port their health insurance to Bajaj Allianz health insurance, the waiting periods served under their prior policy are carried forward. It implies that they must only serve the remaining waiting periods under the Bajaj Allianz health policy, ensuring uninterrupted and continuous coverage.

      How to Port to a Bajaj Allianz Health Insurance Policy?

      Porting to a Bajaj Allianz health insurance policy has been made convenient online. Here are the steps to port to a Bajaj Allianz health insurance policy via Policybazaar.com:

      Step 1: Choose the desired Bajaj Allianz health insurance policy that meets your requirements.

      Step 2: Initiate a porting request with Policybazaar approximately 45 days before your existing health insurance policy expires.

      Step 3: Complete and submit the online proposal and portability forms to Policybazaar.

      Step 4: Make the premium payment for the selected Bajaj Allianz health policy.

      Step 5: Policybazaar will transmit your portability request to Bajaj Allianz General Insurance.

      Step 6: Subsequently, Bajaj Allianz General Insurance will contact your current insurer to gather vital information such as your claims history, health records, and other essential details. This information can also be sourced from the IRDAI website.

      Step 7: Your present insurer must provide all the requested details to Bajaj Allianz General Insurance via IRDAI's shared data platform within 7 working days. Any delays in data sharing might result in a temporary hold on your portability request.

      Step 8: Bajaj Allianz General Insurance will meticulously review the received documents within 15 days, and based on this assessment, they will either approve or decline your portability request. In the absence of a response during this timeframe, your portability request will be automatically accepted.

      Documents Required for Bajaj Allianz Health Insurance Portability

      To proceed with porting to Bajaj Allianz health insurance, please ensure you have the following documents ready:

      • A record of past claims made under previous policies
      • Previous year's medical insurance policy copies
      • The latest renewal notice explicitly indicates the NCB
      • If there were any past claims, include relevant medical documents such as prescription records, pathology and radiology results, hospital discharge certificates, etc.

      How Does NCB Work Under Bajaj Allianz Health Insurance Portability?

      Under Bajaj Allianz health insurance portability, the No Claim Bonus (NCB) accumulated under the previous policy functions differently based on various scenarios. Let us explore these scenarios in detail:

      Scenario 1: If the policyholder chooses a Bajaj Allianz health policy with the same base sum insured as the previous policy, the waiting periods of the prior policy will be sufficient.

      For example: Consider Sunil, who has a Rs. 4 lakh health policy with an NCB of Rs. 2 lakh. He wishes to port to a Bajaj Allianz Health Insurance policy with a sum insured of Rs. 4 lakh. In this scenario, the waiting periods from his previous policy will be carried forward. This allows him to avail of the coverage benefits without serving additional waiting periods.

      Scenario 2: If the policyholder selects a Bajaj Allianz health policy with a base sum insured equal to the previous policy's sum insured plus the NCB, the waiting periods of the prior policy will be applicable.

      For example: Consider Sunil, who has a Rs. 4 lakh health policy with an NCB of Rs. 2 lakh. He wants to port to a Bajaj Allianz health insurance policy with a sum insured of Rs. 6 lakh. In this scenario, the waiting periods from his previous policy will be carried forward without serving any additional waiting periods. The reason being the total sum insured of his last policy (Rs. 4 lakh) plus NCB (Rs. 2 lakh) equals the sum insured of the Bajaj Allianz health policy (Rs. 6 lakh).

      Scenario 3: If the policyholder buys a Bajaj Allianz health policy with a coverage amount higher than the previous policy's sum insured plus the NCB, standard waiting periods will apply for the additional coverage amount.

      Here is an example: Consider Sunil, who has a Rs. 4 lakh health policy with an NCB of Rs. 2 lakh. He wishes to port to a Bajaj Allianz health insurance policy with a sum insured of Rs. 10 lakh. In this scenario, the waiting periods served under his previous policy will be sufficient for Rs. 6 lakh coverage. However, to claim the additional Rs. 4 lakh, standard waiting periods are applicable.

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