Cholamandalam Health Insurance Portability

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      Cholamandalam Health Insurance Portability

      Cholamandalam MS General Insurance Company provides a hassle-free Health Insurance Portability service. It allows individuals to port their ongoing health policies from other insurers to Cholamandalam's health insurance plans. This seamless transition allows the policyholders to switch to a better health plan while retaining the accumulated benefits from their previous policies. This portability feature is available around 45 days before the policy's renewal date.

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      Benefits of Porting to a Cholamandalam Health Insurance Policy

      Discover the key advantages of porting to a Cholamandalam health insurance policy:

      • Opt for Better Coverage Benefits: Policyholders with health insurance policies from other insurers can choose to port to a Cholamandalam health insurance policy to upgrade their coverage level and access improved services without any additional fees.
        For example, policyholders can opt for a Cholamandalam health insurance plan that offers Maternity coverage, newborn baby coverage, infertility treatment coverage, AYUSH cover, domiciliary hospitalization, and more.
      • Choose a lower premium plan: Portability allows policyholders to switch to a Cholamandalam health insurance policy with reduced premiums if their current policy, offering equivalent coverage, has become costly due to the age factor, deductibles, or the insurance company's underwriting.
      • NCB Retention: Portability ensures that the accumulated No Claim Bonus (NCB) remains intact when the policyholder switches to a Cholamandalam health insurance policy. For instance, if the NCB under the previous policy is 15%, the same percentage will apply to the Cholamandalam health insurance policy.
      • Transfer of Waiting Periods Served: When porting to a Cholamandalam health insurance plan, the waiting periods applicable in the last insurance policy accumulate. Policyholders must serve only the outstanding waiting periods as applicable under the newly selected Chola MS medical insurance plan.

      How to Port to a Cholamandalam Health Insurance Policy?

      Cholamandalam health insurance policy portability has been made seamless and hassle-free, with the entire procedure now available online. Follow these steps to port to a Cholamandalam health policy through

      Step 1: Select the Cholamandalam health insurance policy that best suits your requirements.

      Step 2: Submit a request to Policybazaar to initiate the porting process for your desired Cholamandalam health policy approximately 45 days before your current policy expires.

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

      Step 4: Make the payment for the selected Cholamandalam health insurance policy.

      Step 5: Policybazaar will transmit your request for portability to Cholamandalam MS General Insurance Company.

      Step 6: Cholamandalam MS General Insurance will connect with your current insurer to acquire the necessary information, including your claims history and medical records. This data can also be obtained from the IRDAI website.

      Step 7: Your present insurer will furnish all requested details to Cholamandalam MS General Insurance via IRDAI's shared data platform within 7 working days. If there is a delay in data sharing from your existing insurer, the decision on your portability request will be postponed.

      Step 8: Within 15 days, Cholamandalam MS General Insurance will assess the documents you have submitted for your portability request. Your portability request will be automatically approved if a conclusion is not reached within this period.

      Documents Required for Cholamandalam Health Insurance Portability

      For porting to a new health plan, kindly carry the following documents:

      • Claim history details for previous policy's claims
      • The latest renewal notice distinctly indicating the NCB details
      • Copies of previous year's medical policies
      • Medical documents, such as prescription records, scan reports, hospital discharge certificates, etc., in case of claims

      How Does NCB Work Under Cholamandalam Health Insurance Portability?

      Under Cholamandalam health insurance portability, the accumulation and utilization of the NCB vary in different scenarios. Let us examine each of these situations comprehensively:

      Scenario 1:

      The base coverage amount of the new Cholamandalam health policy is similar to the total of the previous policy's base sum insured plus the NCB percentage, and then the waiting periods of the previous policy apply.

      For instance, let us take the case of Deepak. He holds a Rs 10 lakh health policy along with an NCB of Rs 5 lakh. If he chooses to transfer to a Cholamandalam health insurance policy of Rs 15 lakh, the waiting periods from his previous policy add-up, without having to serve extra waiting periods. This happens due to the combined base SI of his previous policy (Rs 10 lakh) and the NCB (Rs 5 lakh) equating to the newly selected Cholamandalam health policy's base SI (Rs 15 lakh).

      Scenario 2:

      When the policyholder opts for a Cholamandalam health insurance policy with the same base sum insured, then waiting periods of the new policy will not apply.

      For example, let us consider Deepak. He is insured under a Rs 6 lakh health policy and an NCB of Rs 1.5 lakh. If he opts to switch to a Cholamandalam health insurance policy of Rs 6 lakh, the waiting periods from his previous policy will be carried forward. This allows him to access the coverage benefits without serving any additional waiting period restrictions.

      Scenario 3:

      If the policyholder switches to a Chola MS health policy and the sum insured is higher than the total of the base SI plus the NCB of the previous policy, then waiting periods will apply to avail off the complete coverage amount.

      For example, consider Deepak, who holds a Rs 10 lakh health policy and an NCB of Rs 5 lakh. If he decides to port to a new Cholamandalam health insurance policy of Rs 20 lakh, he can claim up to Rs 15 lakh. However, standard waiting period restrictions would apply to claim the additional Rs 5 lakh.


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