Last Updated:July 05, 2025, 14:00 IST
Portability is the process of transferring your existing health insurance policy from one insurance company to another insurance company for various reasons.
The porting request must be made at least 45 days before the renewal date. (Representative Image)
Health insurance is one of the best methods to ensure that you do not bear the brunt of the hefty medical bills in case you suffer from a disease. You should select the health insurance plan that is best suited to your needs, even if it means porting existing policies. Wondering what porting means? In simpler words, portability is the process of transferring your existing health insurance policy from one insurance company to another insurance company for various reasons.
Transferring or porting your health insurance policy is an excellent method to ensure that you have the most suitable coverage tailored to your needs. However, it is important to remember to carefully understand the terms and conditions of any policy prior to making a decision.
If you are also planning to port your health insurance, here are some challenges you should know:
Documentation and Timing Hurdles
The porting process requires the submission of several documents, including claim history, previous policy details, and health declarations. Additionally, the porting request must be made at least 45 days before the current policy’s renewal date and not before 60 days. Missing this window can delay or derail the process.
Premium Surprises
While advantages such as waiting periods for pre-existing diseases can be moved during porting, any loyalty discounts provided by the insurer or policy-specific features will not be changed. So, if you purchased the previous plan with a domiciliary hospitalisation benefit due to a specific medical condition, this feature will not be transferred over to the new plan, and the policy you select may or may not include it as an inherent option.
Waiting Periods Might Still Apply
Though IRDAI guidelines ensure that credit gained for pre-existing diseases is transferred, some insurers may still impose new waiting periods for certain illnesses not covered in the old policy. This can create confusion and leave policyholders underinsured during the transition phase. Hence, it is important to examine the policy’s waiting period when porting the policy.
Underwriting and Rejection Risks
One of the biggest hurdles while transferring is the underwriting process. The new insurer has the right to reject a portability request based on medical underwriting. This poses a challenge, especially for older individuals or those with significant health histories like heart conditions. The new insurer may impose exclusions to increase the premium or even decline the porting request.
Coverage Gaps and Benefit Downgrades
Not all policies offer the same coverage. For instance, if you had bought a basic medical plan before COVID-19 and have a low cover of Rs 3 lakh, you may want to secure a bigger cover. In the process of switching, the new insurer is bound to offer you a plan that is at least the same size as your existing cover, but it is better to opt for a top-up or super top-up plan, which offers much higher coverage at a lower cost.
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More
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