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?
Simple online processes - From the process of buying a health insurance policy to making claims is paperless, easy, quick and hassle-free! No hard copies, even for claims!
No Age-based or Zone-Based Co-payment - Our health insurance comes with no age-based or zone-based copayment. This means, during health insurance claims, you need not pay anything from your pocket.
No Room Rent Restriction - We understand that everyone has different preferences. That’s why we have no room rent restrictions. Choose any hospital room you prefer.
SI Wallet Benefit - If you exhaust your Sum Insured during the policy period, we refill it for you.
Get treated at any hospital - Choose from 16400+ of our network hospitals in India for a cashless treatment or opt for a reimbursement.
Wellness Benefits - Get exclusive wellness benefits on the Digit App in collaboration with top-rated health and wellness partners.
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?
All Current Insured Members
Current Sum Insured
Your Accumulated Cumulative Bonus
Your Pre-Existing Disease Waiting Period
Your Specific Disease Waiting Period
Rights of a policyholder (a.k.a YOU!) for Porting a Health Insurance Policy
According to the IRDAI, every policyholder has the right to port their policy (applicable to both individual and family health insurance policies) from one general or specialized health insurance provider to another.
As per the IRDAI guidelines, the new health insurance provider is liable to at least provide for the same sum insured to the policyholder.
Most importantly, the new health insurance provider is liable to provide their policyholder benefits for which the waiting period has already passed, i.e. in a health insurance portability- one also gets to transfer their accumulated no claim bonus and waiting periods.
It is the responsibility of the new and old insurer to ensure the respective health insurance policy has been transferred successfully, as per the IRDA guidelines.
Health Insurance Portability Rules as set by the IRDAI - simplified for you
You can only port your insurance policy to a similar type of policy. This means you cannot completely change the coverage, plan or type of policy while making the switch.
Insurance companies are usually classified as either life insurance companies or general insurance companies. When you port, you need to make sure you port to a similar type of company. By the way, Digit is a general insurance company.
If you are looking to port your health insurance, you have to port during renewal, and you cannot have lapsed policy periods in between as this may lead your proposal to port to be rejected.
Goodbyes are important. That’s why, it’s important for you to notify your current insurance company that you plan on porting your policy. The same must be done in writing, and at least 45-days before your policy is supposed to renew.
Once you have done your job and informed your current insurance company, they have three days to acknowledge your request on porting your health insurance.
As per the IRDAI regulations, no insurance company (neither your current one nor the new one you wish to port to) can charge any fee for the process of porting your health insurance policy.
The premium for any health insurance is decided by an insurance company based on different factors since every insurer comes with their own service benefits. So, it may happen that there is a change in premium from your current insurer to your next – even though it is for a similar policy.
You are allowed to get an additional grace period once your health insurance portability is still under process, i.e. your health insurance premium will be charged basis the number of days your old policy was active.
You can opt to increase your sum insured coverage while porting your policy. However, it would have to be approved by your new health insurance provider.
Usually, waiting periods are not affected while porting your policy unless you have opted for a new coverage that comes with a different waiting period than your earlier insurer. For example- your waiting period for specific illnesses or pre-existing diseases may not be affected since that is part of most health insurance plans. However, if you have only now opted for a maternity cover during porting then you will have to complete the waiting period for the same with your new insurer.
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?
| Advantages | Disadvantages |
|---|---|
| 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. |
FAQs about Health Insurance Portability in India
When can a policyholder apply for portability?
You can apply for portability 60 days before due health insurance renewal date.
Will my waiting period be affected when I port?
No, the benefit of porting is that even though you shift to a new health insurance, your waiting period is not nullified, i.e. you need not start your waiting period right from the start. For example: If your Specific illness waiting period is of 4 years and you port in your second year(this should be during your third year), you will only have to wait one more year to complete the waiting period.
Do you lose on anything when you port your health insurance policy?
No, the entire purpose of portability is so that you don’t lose out on things such as your accumulated cumulative bonus, and the amount of waiting period passed.
When should you consider porting your health insurance policy?
If you think there’s a better health insurance policy, with better benefits available then you should consider porting your health insurance policy during your next renewal period.
What are some of the problems faced while porting a health insurance policy?
One of the most common problems faced by people while porting their health insurance policy is the likelihood of rejection. This is because every health insurance provider has the right to either reject or accept a portability request. They take these decisions primarily on parameters such as your claims history, medical details provided, age of insured members, and more.
Can your portability request get rejected by the preferred health insurance company?
Yes, every health insurance company has the right to reject a portability request. However, in most genuine cases and especially with regards to customers with no claim history, portability requests are accepted 😊
Can I port health insurance anytime?
No, you can only port your health insurance only before your current policy is up for renewal. The recommended time to do so is at least 45 days before your current health policy expires.
Can I port my health insurance mid-year?
No, your health insurance can only be ported when your existing health insurance policy is due for renewal. To ensure you port at the right time, apply for portability at least 45 days before your existing policy’s expiry date.
What happens if my health insurance portability request has been rejected and why?
If your health insurance portability request has been rejected, you can ask the insurer for the reasons why and see if the same can be rectified. Some common reasons for health insurance portability rejections include incomplete or incorrect details given about medical history or claim history, portability request not completed on time, or the fact that your previous health insurance policy had already expired.
Does the age of the policyholder matter while porting a health insurance policy?
Yes, like any other health insurance policy – your age does matter. The older you are, the higher may be your health insurance premium.
Instead of porting my plan, can I buy a health insurance from two different health insurance providers?
Yes, you can. However, we would recommend you go for two diverse health insurance plans for better coverage instead of just going for two very similar health insurance plans.
Why do people port their health insurance?
Most people port their health insurance if they’ve had a bad experience with their current insurer or because they’re looking for better benefits.
Instead of porting, can I just change my plan with my current health insurance provider?
Yes, you can 😊 Generally, plan and coverage changes can be done with your existing health insurance provider at the time of your health insurance renewal.