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Mediclaim Policy Portability
Many people who want to skip hassles discard the idea of moving from one insurer to another. However, the portability procedures have been simplified that makes it highly convenient for the policyholders.
The IRDA has set guidelines regarding the portability of the mediclaim policy that must be adhered to by the insurers and policyholders. It is a privilege given to the policyholders to change their insurer, due to some specific reasons, without losing the benefits. It is specifically convenient as far as a waiting period in case of pre-existing conditions is concerned. So, even if a policyholder ports his policy to the new insurer, he may not have to complete the waiting period all over again. However, this advantageous provision of Mediclaim policy portability is subject to the continuity of the health policy. That is, there should not be any break in the existing policy.