IRDA PORTABILITY FORM PDF

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Re: Guidelines on Migration and Portability of health insurance policies. In terms thereof, following guidelines are issued:. Portability shall be allowed under all individual indemnity health insurance policies issued by General Insurers and Health Insurers including family floater policies.

Every individual policyholder including members under family floater policy covered under an indemnity based individual health insurance policy shall be provided an option of migration at the explicit option exercised by the policyholder;.

Every individual member, including family members covered under an indemnity based group health insurance policy shall be provided an option of migration at the time of exit from group or in the event of modification of the group policy including the revision in the premium rates or withdrawal of the group policy:. Migration shall be applicable to the extent of the sum insured under the previous policy and the cumulative bonus, if any, acquired from the previous policies.

Migration may be subject to underwriting as follows:. For individual policies, if the policyholder is continuously covered in the previous policy without any break for a period of four years or more, migration shall be allowed without subjecting the policyholder to any underwriting to the extent of the sum insured and the benefits available in the previous policy.

Migration from group policies to individual policy will be subject to underwriting. However, if the insurer is willing to consider even less than 30 days period, then the insurer may do so. Insurer shall not levy any charges exclusively for migration. Insurers shall clearly draw the attention of the policyholder in the policy contract and the prospectus that:. Migration is allowed as per these Guidelines as amended from time to time.

Policyholder should initiate action to approach the insurer to exercise migration option well before the renewal date to avoid any break in the policy coverage. Individual members, including the family members covered under an indemnity based group health insurance policy shall have the right to migrate from such a group policy to an individual health insurance policy or a family floater policy, thereafter Portability shall be allowed as per Clause 1 above and in accordance to the norms specified under IRDAI Health Insurance Regulations, These Guidelines are issued under the powers vested with Section 34 1 of the Insurance Act, and will come in to force with immediate effect.

This has the approval of the competent authority. Suresh Mathur. Executive Director. Every individual policyholder including members under family floater policy covered under an indemnity based individual health insurance policy shall be provided an option of migration at the explicit option exercised by the policyholder; a.

Every individual member, including family members covered under an indemnity based group health insurance policy shall be provided an option of migration at the time of exit from group or in the event of modification of the group policy including the revision in the premium rates or withdrawal of the group policy: a. Migration may be subject to underwriting as follows: a.

Suresh Mathur Executive Director.

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The IRDA, vide circular dated February 10, , had issued guidelines on portability of health insurance policies which was to be introduced from 1 st July Subsequently, on 24 th June , it was felt necessary to put in place a system to enable collection of data on the history of health insurance and monitoring the transfer of records of the porting policy holder. In that context, it was decided that the implementation of portability of health insurance policies would be mandated to commence no later than 1 st October In continuation of the above guidelines, the detailed procedure on health insurance portability shall be as set out in these guidelines. In these guidelines, the following terms shall carry the meanings as assigned to them. All policyholders are hereby vested with the right of portability, i.

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Portability of Health Insurance

Be it men or women, health insurance has become a major necessity for every individual, irrespective of their age group. Health insurance, the ultimate requisite for life, is no less than a boon. As far as its benefits are concerned, they are many. Right from covering high medical costs to providing tax benefit, health insurance offers endless advantages.

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