You can actually transfer to any other health insurance company or any other plan that they offer as well as can transfer within the same insurance company’s different plan.

What Policies/Plans are Eligible for Transfer

According to IRDA, all the individual health insurance plans/policies issued by all the non-life insurance companies are eligible for transfer from one company to another health insurance company.  One can even transfer their family floater policies.  One can transfer from individual plan to family floater and vice versa as well provided they fulfill certain criteria.

What it means?

• Transfer or portability means that you can actually transfer the credit gained by the pre-existing conditions as well as any time bound exclusions are all remains the same or can enjoy those benefits without losing out when you transfer them to the new health insurance company.
• This will be only applicable provided there is no break in the premium paid
• You should apply for the transfer of your health insurance plan before 45 days of premium renewal date.

What to do?

• Anyone who wish to transfer from one plan to another or one mediclaim plan to another or from one health insurance company (either private or government owned) to another should get the portability form along with the proposal form and then submit it to the insurance company for their approval or rejection
• The insurance company should communicate back to the insurer within 15 days of applying for the same or else they will no retain the right to reject such a proposal from the insurer

Portability – a welcome option

Such an option of transfer or portability of health insurance policies are an excellent option given to the health insurance policy holders who otherwise were left with no other option either to stick with the existing health insurance company (even if their service and claim approval remained poor due to the fear of losing all the benefits that come attached with it) or to terminate the existing plan and switch to a new plan from other health insurance company and thereby losing all the benefits and exclusions and pre-existing disease benefits from their old plans.

Such choice of changing companies have been a boon for the end users like us who have been made the final authority again by IRDA and is indeed a welcome move.  We should congratulate IRDA for coming up with a good move.

Related Posts:

• Apollo Munich Health Insurance Review

The name change from Apollo DKV Insurance to Apollo Munich Health Insurance is seen as a re-branding exercise, since in peoples mind Apollo name was very popular and synonymous with quality health care but the same could not be said about DKV. The company has strong growth plans and with their expertise in the industry, they are planning to penetrate deeper in the retail insurance market.

“Let’s Uncomplicate” is the new motto for Apollo Munich Medical Insurance and the company wants to simplify all aspects of health insurance for clients; whether it is buying, understanding the contingencies, or making claims. Apollo Munich Insurance Company wants to be a hassle free and user friendly health insurance company.

• Aims to make healthcare and health insurance easy and uncomplicated
• Apollo Munich insurance co. has tied up with a network of 4000+ hospitals in India
• Customers can avail the facility of cashless hospitalization by displaying the health card issued to the policy holder
• Easy Health Plan offers coverage for healthcare needs of insured and also keeps a check on the health of the customer.
• 3 variants of Easy Health plan: Standard Plan which has the lowest premium; then Premium Plan and Exclusive Plan which has the highest premium.
• Their health insurance plan starts from just Rs. 3 per day and more depending upon one’s needs.

Apart from health insurance via their two plans namely Easy Health Insurance and Maxima 360 Health Plan, they have even personal accident insurance.  The Apollo Munich Health Insurance helpline number is 1800-102-0333.  They even have the option of buying the health insurance online.

Although it may sound like just another health insurance company, but we will need to wait and see on how well Apollo Munich Insurance is going to perform in terms of customer service and reliability.

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• How to Guide on Health Insurance Portability