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Portability from two individual health insurance plans to one floater plan

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24 Sep, 2020 by Chro mos

I have a health insurance policy with National Assurance with SI 3 lakhs. My wife has her policy with Max with SI 10 lakhs. Both of us have our policies from before we got married. Now, I want to port my policy over to Max and join her plan under family floater, as it has higher SI. When I asked Max for the same, they said they can only port my policy over but not merge it with my wife's existing policy. To join her policy, I will have to add myself as a new member which means I will lose the porting benefit of carrying over the time elapsed for PED. Can you please guide me if it is possible to do what I want, and how to go about the same?

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24 Sep, 2020
Team Beshak

Hello there,


As per IRDAI Guidelines, all individuals covered under any health insurance policy (Group/Employer Health Insurance, Family Floater Insurance or Individual Insurance) has the right to port his/her policy to any another health insurance policy (Group/Employer Health Insurance, Family Floater Insurance or Individual Insurance).


As per these guidelines, in your specific case, you should get portability of the waiting period you completed in your existing policy into your wife's individual health insurance policy without any underwriting/medical test requirements.


Here is the guideline's that provides these benefits to individual consumers: https://www.irdai.gov.in/ADMINCMS/cms/frmGuidelines_Layout.aspx?page=PageNo3987&flag=1


What you should do?

You should send the above link of this guideline to the insurance company in writing and ask them to confirm their stand. If there are unable to give you portability, you may like to try with another insurance company.


Hope this answer helps. Do let us know.


Regards,

Team Beshak





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24 Sep, 2020
Chro mos
Thank you for the detailed reply and link.
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24 Sep, 2020
Anuj Jindal

Hey there,


I have read your case. Could you please share what is the renewal date of National Insurance and Max Bupa policies.


My suspicion is that the renewal dates of these two policies do not converge. Health insurance policy being an annual contract, any policy number can only have one renewal date and the next renewal would be due after an year only.


If renewal dates in National and Max policies are far apart, then when you try to switch from National into the existing Max policy, then you're effectively asking for two options-

1) Allow policy for one member to run for less than one year and then have a consistent renewal date for future.

2) Or allow policy to have two different renewal dates, one for wife and one for husband.

Both are not feasible in a floater policy to the best of my understanding of insurance rules in India.

More clarity will emerge once you share the renewal dates in both policies.


Anuj Jindal

Co-founder

SureClaim

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03 Feb, 2021
Chro mos
Sorry for the late revert, had missed seeing your reply earlier. The two policies indeed have different renewal dates, National one is in March and the other is in August. What is your recommended action in this situation? Should I just take 2 separate policies and live with it or give up coverage for one person and risk it for a while but combine the policies? I also wanted to get a super top-up policy to enhance our insurance coverage, will that also be an issue if the super top-up policy renewal date does not align with one of our base policy dates?
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