There are a majority of folks who are thinking about porting their insurance plans to a fresh insurance service provider to be able to get the extra coverage and additional benefits. The policyholder can also think about the insurance portability in the event of an unsatisfactory response has experience by the policyholder at the time of a claim which forces them to take an extreme step to improve their insurance service provider. .
PolicyX.com explains that policyholder must formally intimate the new health insurance company with the duly filled form 45 days just before the renewal of the prevailing health insurance plan, as the portability can be achieved at the time of health insurance renewal. The policyholder as to select a suitable health insurance plan and complete the proposal form and submit it for portability type.
When the portability form is received, then somewhere around 5 days the new insurance agency shall seek necessary details from the current insurance agency and work on the process, as per the new IRDAI guideline. If the decision is not taken within this period, they have to accept the portability application.