Say goodbye to job-linked health insurance woes in India
What's the story
In today's world, hopping between jobs is as common as swapping phones, but what happens to your health insurance? Well, forget the anxiety of losing your coverage!
Enter portable health insurance, a game-changer for India's workforce. This clever solution lets you take your health insurance along as you switch employers, ensuring your medical benefits stay intact.
No more waiting periods or exclusions for pre-existing conditions. Here's why this is the health insurance evolution India needed.
Concept
What is portable health insurance?
Portable health insurance is a policy that you can take with you when you change jobs or choose to work for yourself.
Unlike conventional employer-based health insurances, which terminate when you leave the job, portable policies guarantee uninterrupted coverage.
This implies that pre-existing conditions continue to be covered, and there is no requirement to fulfill waiting periods again.
Advantages
Benefits of portability
One of the key advantages of portable health insurance is the psychological comfort it provides. The assurance that your health coverage remains intact regardless of job changes can alleviate stress for many.
It also ensures the retention of accumulated benefits like no-claim bonuses and waiting period credits for pre-existing conditions.
Plus, it fosters a sense of empowerment by placing control of health insurance policies in the hands of individuals.
Process
How to opt for portability?
An individual needs to apply for portability minimum 45 days before the renewal date of their existing policy and not more than 60 days before.
The new insurer might request medical reports and other necessary documents before approving the portability application.
One should carefully compare policies and select the most suitable one, facilitating a seamless transition.
Caution
Things to consider before porting
Before you port your health insurance, ensure the new policy provides similar or better benefits at a reasonable premium.
Verify there are no new waiting periods for specific conditions you may have.
Make sure all accumulated benefits like no-claim bonuses are properly transferred. This ensures continuous coverage and financial protection against medical emergencies, regardless of employment status or job changes.