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Regarding Health Insurance Moratorium Period & Portability

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04 May, 2022 by  Raghav

Hi Team, I purchased my 1st policy in 2013 worth 5 lakh and after continous 5 Years renewal I ported my policy to different insurance company. During porting I increased my sum insured to 10 lakhs. My question is that:-



1)I have paid contnious premiums for 9 years whixh includes 5 years with previous insured and 4 years with the new insurer after porting, so does mortarium period is applicable for 5 lakh sum insured of my ported policy as well? In short is moratorium applicable to ported policies also?



2) Also, after moratorium period is over, can health claim still be rejected on non disclosure of pre existing disease.



. 3) Also in claim form, is it compulsory to put details about other health insurane policy? What if I dont disclose about my other health insurance policy information?

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Health Insurance

1 Answer

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13 May, 2022
CEO, Insurance Samadhan

Dear

Interesting question , answers

As per IRDA circular , moratorium applied after 8 years of policy .

1. In this case, moratorium would apply to sum assured of Rs 5 lalh because this has completed 8 years and not the additional cover taken with new insurer .

2. No , after the moratorium claim can not be rejected on ground of non disclosure but can be rejected under fraud not related to non disclosure.


3. It is not mandatory but should be put for transparency.

You can not claim same expense from two insurer because health insurance is an indemnity product .insurer can terminate your insurance because of ypur credibility .

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16 May, 2022
Raghav
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19 May, 2022
CEO, Insurance Samadhan
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