Stuck with a bad policy? Here are key reasons to consider health insurance portability

Portability in health insurance enables policyholders to transfer their health cover from one insurer to another without losing accumulated benefits. This feature allows people to find a new plan with better premiums, coverage, or services.

What are the common reasons people choose to port their health insurance policies?

⦁ Unhappy with their current health insurance company

⦁ Not satisfied with their current health insurance plan

⦁ They come across another health insurance plan that offers a comprehensive scope of coverage

⦁ Better cost-effective health insurance plan

⦁ Another company with a simpler claim settlement process

Advantages of portability that policyholders must know

Health insurance portability offers several key benefits that empower policyholders to make better choices without losing existing benefits.

"A significant advantage here lies in the continuity of the waiting period for pre-existing diseases and specific treatments. This ensures that policyholders do not have to wait through the waiting period for their coverage again," said Ajay Shah, Head - Distribution, Care Health Insurance.

Additionally, portability provides flexibility to consumers dissatisfied with product benefits, service, premium costs or network of healthcare providers of their insurer to explore plans better aligned with their needs, added Shah.

Portability enhances customer experience, expands product choices and encourages insurers to offer improved services at competitive prices, noted Shah.

There’s no 'ideal' time to port your health insurance. However, keep in mind that porting can only be done at the time of policy renewal, not mid-term.

Yes, age plays a significant role in the porting process. Every insurer sets age limits for accepting ported policies. If the policyholder's age exceeds the maximum age allowed by the insurer, the porting request can be rejected.

No, there are no additional portability charges. Porting is free of cost.,