Port Your Health Insurance Policy To Ensure Same Coverage

Ensure Your Benefits Remain The Same Or Improve Ensuring that your benefits remain consistent or improve when porting a health insurance policy involves several critical steps. Compare  Features and Coverage: When porting a policy, you should compare the features and coverage of the new policy with your current one. Ensure that the new policy offers similar benefits, including coverage limits, exclusions, riders, and any specific features important to you,” says Siddharth Singhal, business head – health insurance, Policybazaar.com. Ensure Accrued Benefits Are Transferred: Ensure that any accrued benefits like the cumulative bonus (CB) are transferred to the new policy without loss, as these can significantly affect premiums and coverage enhancements.Check Co-payments And Deductibles: “If your current policy does not have co-payments and deductibles, it is crucial to find a new policy that also does not include these or has comparable terms,” says Singhal. Some insurers may offer policies without co-payments and deductibles, but you need to verify this before porting. “You can negotiate to exclude co-payments and deductibles from the new policy if they are not present in your existing one,” adds Singhal. Verify Benefits: Submitting accurate and comprehensive documentation, including your current policy details and claim history, is essential for a smooth transition. “Once your porting request is accepted, carefully review the acceptance letter or new policy document provided by the insurer to verify that all agreed-upon benefits and terms are accurately documented. Taking these steps ensures that you retain or enhance your health insurance benefits when moving to a new insurer, safeguarding your healthcare needs effectively,” says Nerukar. 

Buy cryptocurrency

Source link

Refer And Earn Demat Account – Get ₹300 | Referral Program

Open Demat Account In Angel One For FREE