Procedure to Port Your Health Insurance Policy

While transferring your policy from your existing insurer to the new insurer, you need to fill in an application form and proposal form for opting. People below the age of 45 are allowed by few insurers to apply and submit porting proposal forms online without any medical tests. The application for will then is processed by your new insurer and search for necessary details such as your medical history and claim history within a week on a porting website created especially by Irda.

The present insurer will have to provide all the requisite data about the insured within a week through the portal. If the new insurer wishes, he will accept your proposal. The new policy will carry ahead all the benefits accrued in your existing policy.

Nevertheless, if the new insurer regardless of getting all the significant details from your existing insurer does not communicate its decision to you within 15 days, he will lose his right to decline your proposal and shall have to agree to your application.

If the portability request has not been disposed of by the new insurer, your present policy can be extended for a short period by accepting a pro-rate premium. In case there is a claim, your present insurer will pay the claim and ask for the balance premium for the remaining part of the policy year.

The existing insurer cannot withdraw your policy until a confirmed policy from new insurer is acknowledged. If, for any reason, you propose to continue the policy further with your existing insurer, you will be permitted to continue by paying the regular premium without any new conditions.