India: How to port a health insurance policy

| 19 Jul 2022

A health insurance policyholder may want to change the insurer for reasons like better benefits and services or lower premium being offered by another insurance company.

While porting the policy, the policyholder can retain the benefits accumulated in terms of waiting period for covering certain procedures or pre-existing diseases.


What can be ported?

All time-bound exclusions and no-claim bonus accrued for the existing policy can be ported to the new policy. The new insurer must give credit for the waiting period for pre-existing diseases if these have been acquired with the old policy.


What are the conditions?

Porting can be done only at the time of renewal. The new insurance period will start with the new policy. The new insurer is required to provide a cover that is at least equal to that of the existing cover. 


What is the process?

The policyholder needs to write to the old insurance company requesting a shift to another policy at least 45 days before the expiry of the policy, but not before 60 days.

The request should mention the name of the new insurance company, current policy details and other personal details of the insured.

An insurance portability form, along with the proposal form and medical reports, as mandated by the insurer, needs to be submitted to the new insurer.

The new insurer needs to confirm the proposal within 15 days, failing which the policyholder can continue the existing policy by paying the due premium. If the proposal is accepted, the policyholder will pay a premium for the new policy.


What are the points to note?

  • Apart from waiting period credit, all other terms of the new policy, including premium, will apply.
  • The two insurance companies need to complete the porting in line with the timelines prescribed by IRDAI.


This is an abridged version of an article by Centre for Investment Education and Learning (CIEL).