You can change your health insurer without starting from zero. Portability allows you to move to another company at renewal while keeping the waiting period credits you have already earned.
What Is Portability?
Portability is a right given by the regulator, IRDAI. It lets you shift your existing policy to a new insurer or a new plan while keeping the benefits you have built up, such as completed waiting periods.
Why Would You Port?
- Poor claim service or slow cashless approvals
- Better features or a wider hospital network elsewhere
- Lower premium for the same or better cover
- Need for a higher sum insured
Which Benefits Carry Over?
The credit for the waiting periods you have already completed is transferred, up to the previous sum insured. If you increase the sum insured, the extra amount is treated like a new policy and the waiting period applies to it.
How to Port Your Policy
- Compare plans from different insurers.
- Apply to the new insurer well before renewal, generally 45 to 60 days early.
- Fill in the portability form and share your previous policy details.
- The new insurer will underwrite the proposal and may ask for medical details.
- Once approved, pay the premium and the new policy begins from the renewal date.
Important Points
- Your old policy must be active and renewed on time.
- The new insurer can accept or reject your application after checking your medical history.
- Read the new policy carefully before switching.
Frequently Asked Questions
Will my No Claim Bonus be transferred?
Accumulated bonus can be carried over up to the previous sum insured, subject to the new insurer’s rules.
Can I port in the middle of the policy year?
No. Portability is available only at renewal.
Is porting costly?
No extra fee is charged for porting, but the premium depends on your age and plan.
