Migration of health policies

21 Sep, 2023 | by tejinder sethi

I have a individual health insurance from Care Health Insurance. The policy is completing 3 years without any claim. Prior to this I had a policy with National Insurance since 2014 which I ported to Care Insurance. Now as the renewal is coming up I want to know if I can migrate to other' plan from same company with same sum insured. Also if it will go through underwriting process. As per circular no.IRDAI/HL T/REG/CIRb03/01/2020 dated 1.1.2020 on guidelines for migration there is a clause which reads as under:

Migration may be subject to underwriting as follows:

a. For individual policies, if the policyholder is continuously covered in the previous policy without any break for a period of four years or more, migration shall be allowed without subjecting the policyholder to any underwriting to the extent of the sum insured and the benefits available in the previous policy.

Now please advise if I would have to undergo underwriting process. Also what happens if I have contracted any disease after the policy.

Health Insurance

1 Answer

Post

21 Sep, 2023

Rohit Dhingra

4.5

MBA | 5 years experience

Dear Mr Sethi,

The policy will undergo fresh underwriting and if any disease has been diagnosed it has to be declared while migration. Insurer's in general will ask for Good Health Declaration or will request you to fill a form with details of your past history ad current status before you migrating you to a new product.

I hope this helps.

Regards

Rohit Dhingra

6 Comments

21 Sep, 2023

tejinder sethi

But then what about IRDAI circular. Will it be overlooked?

21 Sep, 2023

Rohit Dhingra

4.5

MBA | 5 years experience

The circular is subject to interpretations. The circular does not state anything about a new disease diagnosis and how it will be covered. It is not compulsory for insurer to allow you to migrate. They need your health assessment before they can allow or allow with some special conditions.

Reply |

21 Sep, 2023

tejinder sethi

Thanks for your clarification but I request that you go through the entire circular for more clarity. It is explicitly clear in the circular that if you have completed 4 years then you will not be subjected to underwriting process. If you go through the circular it also states that you can choose any of the plan of your choice. Reproduced below:

Every individual policyholder (including members under family floater policy) covered under an indemnity based individual health insurance policy shall be provided an option of migration at the explicit option exercised by the policyholder.

Migration shall be applicable to the extent of the sum insured under the previous policy and the cumulative bonus, if any, acquired from the previous policies.

21 Sep, 2023

tejinder sethi

There is also another circular IRDAI/HL T/REG/CIR/0~6/02/2020 dated 10th February 2020 which states that if you have contacted any disease post issuance of the policy will not be treated as PED and will get the benefit of claim. However they may only ask the date of inception of the disease.

21 Sep, 2023

Rohit Dhingra

4.5

MBA | 5 years experience

Sir, details shared with you is out of experience.

You may post the same query to your insurer and get a formal response from them. Underwriting guidelines vary from insurer to insurer and product to product. It is best your current insurer gives an update to you.

Reply |

21 Sep, 2023

tejinder sethi

Thanks

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Migration of health policies

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