Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Wed, 23 Feb 2022 10:17 AM IST
Summary
Important Things While Changing Health Policy: You are not happy with the services of your health insurance policy provider and want to port the policy to another company. So before completing this process it is very important to keep some important things in mind. In this, some important information from the coverage and limit of the other company will prove beneficial for you.
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Collect complete information about other plans
When you port your health insurance policy, the new company is free to decide your premium rates. If you are in the high risk category while in port, the new company may charge you a higher premium than the old company. In such a situation, before porting, you should take information about it and you should gather complete information about the plans of not one but three-four insurance companies. After this, port your health insurance policy in the plan with which you are satisfied.
Understand the coverage of the new company
Many people port insurance policies because another company is offering lower premiums. Understand the coverage, limits and sub-limits of the new company. This will save you hassle while making a claim. Along with this, while changing the policy here, it is very important to keep one more thing in mind that if you are changing your policy by looking at the offer of the new company, then before that compare the offers of other companies with it.
The whole process takes 45 days
If you wish to port your health insurance plan, you must initiate the process at least 45 days before the renewal of the health insurance plan. You will have to inform your current insurance company about porting the policy. You will also need to provide information about the new insurance company. You have to renew the policy without breaking your term, hence there is a grace period of 30 days at the start of the porting process.
Change company only when this problem comes
- poor company service
- less profit in the policy
- insufficient cover
- not digital friendly
- room rent ceiling
- Complicated claim settlement process
- Delay in providing claim cover
- lack of transparency