Health Insurance Portability
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Port Health Insurance in India: Advantages & How to Transfer?
What is Health Insurance Portability?
A Health Insurance Portability is nothing but the process through which you can transfer your current health insurance policy to another insurance provider of your choice. Just like you can switch from one telecommunication service provider to another!
However, don’t think of this as a mere insurer shift. What’s special about a health insurance portability is that you not only transfer to a better plan but your waiting periods and no claim bonus too are transferred so you don’t need to start your waiting periods right from the start or lose out on your cumulative bonus so far!
Why Port your Health Insurance Policy to Digit?
How to Port Health insurance Policy to Digit?
- Step 1: Click on Port to Digit Health above
- Step 2: Enter your Name, and Mobile Number online.
- Step 3: That’s it, leave the rest to us! You’ll hear from one of our health experts within 48 hours, who will help you port your health insurance successfully 😊
Documents Required for Health Insurance Portability to Digit?
- Your current health insurance policy schedule from your current health insurance provider that you want to port from.
- Your identity proof
- Rest of the details, such as your medical details and claim history will be taken from you over call.
What all can you port in your Health Insurance Policy?
Rights of a policyholder (a.k.a YOU!) for Porting a Health Insurance Policy
Health Insurance Portability Rules as set by the IRDAI - simplified for you
When should you port your Health Insurance Policy?
When you’re not happy with your current health insurance provider
Perhaps you’re not too happy with the way your current health insurance is going. It could be because of its service, a bad experience, the annual premium price or just the fact that the plan is not well suited for you and your healthcare needs.
In this case, when it’s time for renewal (ideally, at least 45 days before your current health insurance policy’s expiry date) you can evaluate your options and port your health insurance policy to a plan and insurer that seems better fit for you and your expectations.
When there are better plans out there!
You could be in a situation where your current health insurance provider is great but still doesn’t provide you with valuable benefits you need for you and your family.
For example: Perhaps you’re looking for an AYUSH benefit for your parents or a maternity cover for yourself, but your current health insurance doesn’t cover for the same just the way you’d like.
In this case, evaluate the kind of benefits you’re looking for from at least three insurers and then port your health insurance policy to a provider you trust.
Just make sure you start this process more than 45-days before your current policy’s expiry date so you’re portability procedure is completed well in time.
When you want to shift to a health insurance that is digital friendly
If you’ve had a health insurance policy for a long time now, maybe the chances are that your current health insurance provider isn’t digital-friendly or contactless, and still has long, cumbersome processes which seem to take too much of your time.
In this case, port your health insurance to a digital health insurance option so you don’t have to face the same problems again.
3 Things to know before you port your Health Insurance
1. Be wary about your current policy’s expiry date!
Timing is key for everything, but this is especially true when it comes to health insurance porting. One of the most important things to remember is that you can only port your health insurance policy at the time of your health insurance renewal.
More importantly, you need to let your current insurer know at least 45-days in advance if you want the process to be completed in time. Once your policy expires, you cannot port to another provider.
2. Be honest with your new health insurance provider to avoid rejections
Being transparent is vital in any relationship. Likewise, in starting your relationship with your new health insurance provider, ensure you are honest with them about your claim history and medical history to avoid any rejections or problems in the future.
3. Remember even similar plans can come with varying benefits
Although chances are that you will be porting to a similar health insurance plan, remember that even with similar plans - every insurer still comes with varying benefits.
For example, different insurers will have different room rent capping limits (or no room rent capping at all!). So ensure you read about each of the benefits carefully instead of assuming everything will remain the same!
What are the Advantages and Disadvantages of porting your Health Insurance?
Enjoy continuity benefit - One of the greatest benefits of porting your health insurance plan is that you don’t need to give up on any benefits. For example: If your new health insurer has a waiting period of 3-years for specific diseases and you already had your previous plan for 2 years – you will only need to wait one more year to claim for those specific diseases unlike when you buy a new plan wherein you would have to start waiting periods all over again!
You can only port during renewal - So, while porting is great and all – one of the downfalls is that you can only port your health insurance when it’s time to renew your health insurance policy. However, here’s a tip to share – if you’d like to port your health insurance, start researching and evaluating your options 2-months before your renewal so you have enough time on your hands to make a decision and then apply to port your health insurance policy.
Keep your no claim bonus - Nobody wants to let go of their no claim bonus and I guess insurance providers get that! That’s why, one of the benefits of porting your health insurance is that you don’t need to let go of your no claim bonus, it will be added to your new health insurance policy, just as it is.
Limited changes in your plan - While you can port your health insurance plan to a better health insurer and plan- you cannot make too many changes and will have to go for a similar plan. For more changes or customizations in plan and coverage – your health insurance premium and the terms and conditions attached to it too will be changed accordingly.
Your waiting period is not affected despite change in insurer - As mentioned above, since you enjoy continuous benefits whilst porting, your waiting periods are not affected when you port your health insurance. They’re added based on how much time you’ve completed with your previous health insurance provider.
Higher premium if you want extensive coverage as compared to your earlier plan - In case you’ve decided you want to go for a very different plan and higher coverage than the one with your previous insurer, your premium too may differ accordingly.