HDFC ERGO Health Insurance Portability

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      HDFC ERGO Health Insurance Portability

      HDFC ERGO Health Insurance portability enables individuals to effortlessly port their health insurance policy from their existing insurance company to HDFC ERGO General Insurance Company. This facility allows policyholders to upgrade their health insurance plan with better coverage while retaining all the benefits accumulated in the existing policy. The portability process can be initiated around 45 days before the expiry of the existing policy.

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      Benefits of Porting to an HDFC ERGO Health Insurance Policy

      Some of the advantages of porting to an HDFC ERGO Health Insurance policy are as follows:

      • Better Coverage Benefits – People can upgrade their coverage level and receive better benefits from HDFC ERGO General Insurance Company by porting to an HDFC ERGO health policy without paying any fees. For example, people can port to an HDFC ERGO health insurance policy to receive benefits, like no cap on room rent, reduced premium benefit, multiplier benefit, etc.
      • Reduced Premium - Portability helps people shift to an HDFC ERGO health insurance policy with similar coverage but available for a lower premium if their current policy has become costly as a result of their age or the underwriting criteria of the insurer.
      • Transfer of Served Waiting Periods - The waiting periods served under the current policy are carried forward on porting to HDFC ERGO health insurance. As a result, only the remaining waiting periods have to be served after porting.
      • No Claim Bonus (NCB) Retention - Customers who choose to port to an HDFC ERGO health insurance policy retain their No Claim Bonus. This is because NCB is smoothly carried over to the new policy, ensuring its continuation. For instance, if the previous policy’s NCB was 15%, this same percentage would be transferred to the HDFC ERGO health policy.

      How to Port to an HDFC ERGO Health Insurance Policy?

      With the introduction of online services, porting to an HDFC ERGO health insurance policy has become simple. On Policybazaar.com, follow the below-mentioned steps to port to an HDFC ERGO health insurance policy:

      Step 1: Choose an HDFC ERGO health insurance policy of your choice.

      Step 2: Submit a request to Policybazaar around 45 days before the expiry date of your current policy to port it to your preferred HDFC ERGO policy.

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

      Step 4: Proceed with paying the premium for the selected HDFC ERGO health insurance policy.

      Step 5: Policybazaar will forward your request for portability to HDFC ERGO General Insurance Company.

      Step 6: HDFC ERGO General Insurance Company will reach out to your current insurer to obtain information about your claim history, medical records, and more. This information can also be obtained from the IRDAI website.

      Step 7: Within 7 working days, your current insurer will submit all the requested information to HDFC ERGO General Insurance Company via IRDAI's common data-sharing portal. If your existing insurer fails to share data on time, any decision on your portability request will be delayed.

      Step 8: After receiving all the documents, HDFC ERGO General Insurance Company will decide to accept or reject your portability request within 15 days. Your portability request will be automatically accepted if no decision is reached within this time frame.

      Documents Required for HDFC ERGO Health Insurance Portability

      The following documents are required for HDFC ERGO health insurance portability:

      • A copy of the current and previous policy documents.
      • Information on the claim history of the previous policies.
      • In the event of claims, certain documents, like test reports, hospital discharge certificate, etc., are required.
      • The most recent renewal notice clearly specifying the NCB.

      How Does NCB Work Under HDFC ERGO Health Insurance Portability?

      The nature of NCB differs in different situations when a policy is ported to an HDFC ERGO health insurance policy:

      Situation 1: If a person chooses to port to an HDFC ERGO health policy with the same sum insured, the waiting periods from the existing policy will be carried over.
      For example, Rohit holds a Rs 8 lakh health policy with an NCB of Rs 4 lakh and wishes to port to a Rs 8 lakh HDFC ERGO health insurance policy. In this situation, the waiting periods from the existing policy will be carried forward, and he may claim the policy without having to serve any additional waiting periods.

      Situation 2: If a person ports to an HDFC ERGO health insurance policy with a sum insured equal to the total of the existing policy's base sum insured and the NCB, the existing policy's waiting periods will be sufficient.

      For example, Rohit possesses a Rs 8 lakh health policy with an NCB of Rs 4 lakh and intends to port to a Rs 12 lakh HDFC ERGO health insurance policy. In this instance, the waiting periods from his previous policy will be carried forward without serving any additional waiting period. This is possible because the combined value of the previous policy's base sum insured, i.e. Rs 8 lakh, and the No Claim Bonus, i.e. Rs 4 lakh, is equal to the base sum insured of the HDFC ERGO health policy, i.e. Rs 12 lakh.

      Situation 3: If a person chooses to port to an HDFC ERGO health policy with a sum insured higher than the total of the existing policy’s base sum insured and the NCB, then fresh waiting periods will be applicable for the additional coverage amount.

      For example, Rohit holds a Rs 8 lakh health policy with a Rs 4 lakh NCB and wishes to port to a Rs 15 lakh HDFC ERGO health insurance policy. In this scenario, for a coverage amount of Rs. 12 lakh, the waiting periods served under the previous policy will be sufficient. However, standard waiting periods must be served in order to claim the additional Rs 3 lakh.

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