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Health insurance portability

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Can I port my health insurance plan to other companies ? I am having family policy since 2012 and want to know whether all the benefits will continue of my existing policy if I port or else there will be again some window period .

Health Insurance

1 Answer

Regional Director, Amicus Insurance Broking

Yes, you can port your policy from one insurer to another. However, you must carefully understand what “porting” means. 

When porting is done, the benefits that are being enjoyed by you in your current policy will be transferred as it is to the new policy. The benefits include waiver of pre-existing waiting period of 4 years, waiver of waiting period for specific ailments etc. However, this is limited to the same sum insured. For eg., if your current SI is Rs. 5 lakhs, the ported benefits will also be applicable upto to Rs. 5 lakhs only. If you take Rs.6 lakhs SI, the pre-existing and other restrictions will not apply to the excess amount of Rs.1 lakhs. 

Porting means you are entering into a fresh contract with a new insurer. It is not changing the insurer in your existing policy, like mobile number portability where your service provider changes, but your mobile number remains the same. So you have to fill a proposal form afresh. You have to disclose all ailments/conditions/treatments that you currently have or previously had including, irrespective of whether you had a claim under the previous policy for such conditions. Duty of disclosure is not excused because of porting. Failure to disclose can lead to rejection of your claim in future. 

The new insurer is not under obligation to accept your porting application, which will be at his discretion. 

So one must carefully evaluate whether porting is desirable or not. Are you paying too much premium? Is the service from the current insurer not satisfactory? Do you need a better product with more features? If the answers to these questions are in the affirmative and you or your family members do not have any medical conditions or adverse claims history that can cause potential problems with acceptance of your proposal by the new insurer, you could consider porting. 

Porting is something you should do if you must, not if you can. 

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