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IRDAI banning claim rejection after 8 continuous renewals
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12 Oct, 2020
by vijay
With respect to the above regulation (which I read in a MInt article), is it applicable only for renewing with the same insurer or with different insurers as well while maintaining renewal continuity? I'm thinking of switching insurers (RS to ICICI) but am not sure if I will be eligible for this rule due to the porting.
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In our view, the moratorium will restart on porting your health insurance to a new insurance company.
Let's take a few steps back and understand why you need this moratorium in the first place? If you ensure that all your declarations are clear, true and to the best of your knowledge, there is no reason for you to worry for this moratorium.
If you find a new policy to have better, more suitable coverage and want to port - just ensure you make detailed declarations for medical history for each and every family member by going through their medical records, their current medication, talking to their treating doctor, if any - that is all you need to ensure that there is no issue with your claim.
Hope this helps.