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Urgent question about SI+bonus while porting

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12 Aug, 2022 by  Arora H

Hi,


My mother's health insurance policy was bought from National insurance in 2016. No claim was taken and last year it was ported to HDFC. Before porting the SI in National insurance was 2.5 lacs and bonus/ncb of 50k. The agent told us that this full amount will be added to the SI purchased in hdfc. In hdfc we got a SI of 10 lacs. In last years policy, which was the first policy after porting to hdfc, under the exclusions section hdfc mentioned the amounts 192500, 50000 and 50000 and mentioned the waiting periods as per section 5A. In the policy renewed this year the amounts mentioned are 192500, 50000, 50000 and 950000. The total comes out to be 1242500/- Shouldn't this amount be atleast 1250000/- (with 2.5l SI from the previous insurance) if not 128000/-?


-I have read that while porting the bonus/ncb is not carried forward to the new policy. Is this a mandate by IRDAI?


-Say the above is true, then how did they carry forward 242500/- from the previous policy and not 250000/- ?


Thanks

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Parents-Health-Insurance

2 Answer

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12 Aug, 2022
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If it's possible, can you please redact personal information from your policy (last year's hdfc ergo policy and the previous nic policy) and share the policy copy on xutft@isonee.com


Thank you



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13 Aug, 2022
Arora H
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13 Aug, 2022
CEO, Insurance Samadhan

Dear Arora Sahib

You are entitled to port sum assured plus no claim bonus which will be approx rs 3 lakh only .

But you bought a sum assured of rs 10 lakh out of this rs 7 lakh will be independent with all exclusion as new product and Rs 3 lakh will be treated as port if your new policy document mentions that else it is a new plan .

Hope it clarifies

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14 Aug, 2022
Arora H
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15 Aug, 2022
CEO, Insurance Samadhan
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