Can Term Insurance plan be ported.
Hope you are well! Term Insurance plans cannot be ported once issued.
Ok Thanks Aayush,
Then whats the best way to change the insurer as with the current Life assured amount new ones are not issued. Can we give undertaking that once the plan is issued we will close the earlier plan.
Thanks in advance.
The only solution is to buy a new term plan with your current eligibility and medical history if you want to change your insurer. You may choose to continue or discontinue the previous plan, however, declaring this to your new insurer is not going to help.