Common use of Portability Option Clause in Contracts

Portability Option. If You/the Insured Person has exercised the Portability Option at the time of Renewal of Your previous health insurance policy by submitting Your application and the completed Portability form with complete documentation at least 45 days before the expiry of Your previous Policy Period, then the Insured Person will be provided with credit gained for Pre-existing Diseases in terms of Waiting Periods and time bound exclusions up to the existing Sum Insured and cover in accordance with the existing guidelines of the IRDAI provided that: a. The ported Insured Person was insured continuously and without a break under another Indian retail health insurance policy with any other Indian general insurance company or stand-alone health insurance company or any group/retail indemnity health insurance policy from Us. b. The Waiting Period with respect to change in Sum Insured or plan shall be taken into account as follows: i. If the ported Sum Insured is higher than the Sum Insured under the expiring policy, Waiting Periods would be applied on the amount of proposed increase in Sum Insured only, in accordance with the existing guidelines of the IRDAI. ii. If the ported Sum Insured is lower than the Sum Insured under previous policy then the applicable Waiting Periods would be reduced by the number of months of continuous coverage under the previous policy. iii. If the proposed Plan is to be changed and not the Sum Insured then the applicable Waiting Periods would be applied as per the proposed plan. c. In case of different policies and plan in previous years, the Portability Option would be provided for the expiring policy or Plan which is to be ported to Us. d. The Waiting Period for maternity benefits is not reduced on account of the previous period of insurance coverage even if the previous insurance policy incorporated a Waiting Period for maternity benefits. e. The Portability Option has been accepted by Us within 15 days of receiving Your Proposal and Portability Form subject to the following: i. You shall have given Us all additional documentation and/or information that We requested for; ii. You shall have paid Us the applicable premium in full; iii. We might have, subject to Our medical underwriting as per Our Board approved underwriting policy, restricted the terms upon which We have offered cover, the decision as to which shall be in Our sole and absolute discretion; iv. There was no obligation on Us to insure all Insured Persons or to insure all Insured Persons on the proposed terms, even if You have given Us all documentation; v. We have received necessary details of medical history and claim history from the previous insurance company for the Insured Person’s previous health insurance policy through the IRDAI’s web portal. vi. No additional loading or charges have been applied by Us exclusively for porting the Policy. f. In case You have opted to switch to any other insurer under Portability provisions(Porting Out) and the outcome of acceptance of the Portability request is awaited from the new insurer on the date of Renewal, i. We may upon Your request extend this Policy for a period of not less than one month at an additional premium to be paid on a pro rata basis. ii. If during this extension period a claim has been reported, You shall be required to first pay the balance of the full annual Policy premium. Our liability for the payment of such claim shall commence only once such premium is received. Alternately We may deduct the premium for the balance period and pay the balance claim amount if any and issue the Policy for the remaining period. iii. We reserve the right to modify or amend the terms and the applicability of the Portability option in accordance with the provisions of the regulations and guidance issued by the IRDAI as amended from time to time.

Portability Option. If You/the Insured Person has exercised the Portability Option at the time of Renewal of Your previous health insurance policy by submitting Your application and the completed Portability form with complete documentation at least 45 days before the expiry of Your previous Policy Period, then the Insured Person will be provided with credit gained for Pre-existing Diseases in terms of Waiting Periods and time bound exclusions up to the existing Sum Insured and cover in accordance with the existing guidelines of the IRDAI provided that: a. The ported Insured Person was insured continuously and without a break under another Indian retail health insurance policy with any other Indian general insurance company or stand-alone health insurance company or any group/retail indemnity health insurance policy from Us. b. The Waiting Period with respect to change in Sum Insured or plan shall be taken into account as follows: i. If the ported Sum Insured is higher than the Sum Insured under the expiring policy, Waiting Periods would be applied on the amount of proposed increase in Sum Insured only, in accordance with the existing guidelines of the IRDAI. ii. If the ported Sum Insured is lower than the Sum Insured under previous policy then the applicable Waiting Periods would be reduced by the number of months of continuous coverage under the previous policy. iii. If the proposed Plan is to be changed and not the Sum Insured then the applicable Waiting Periods would be applied as per the proposed plan. c. In case of different policies and plan in previous years, the Portability Option would be provided for the expiring policy or Plan which is to be ported to Us. d. The Waiting Period for maternity benefits is not reduced on account of the previous period of insurance coverage even if the previous insurance policy incorporated a Waiting Period for maternity benefits. e. The Portability Option has been accepted by Us within 15 days of receiving Your Proposal and Portability Form subject to the following:and i. You shall have given Us all additional documentation and/or information that We requested for; ii. You shall have paid Us the applicable premium in full; iiiii. We might have, subject to Our medical underwriting as per Our Board approved underwriting policy, restricted the terms upon which We have offered cover, the decision as to which shall be in Our sole and absolute discretion; iviii. There was no obligation on Us to insure all Insured Persons or to insure all Insured Persons on the proposed terms, even if You have given Us all documentation; v. iv. We have received necessary details of medical history and claim history from the previous insurance company for the Insured Person’s previous health insurance policy through the IRDAI’s web portal. vi. v. No additional loading or charges have been applied by Us exclusively for porting the Policy. f. e. In case You have opted to switch to any other insurer under Portability provisions(Porting Out) and the outcome of acceptance of the Portability request is awaited from the new insurer on the date of Renewal, i. We may upon Your request extend this Policy for a period of not less than one month at an additional premium to be paid on a pro rata basis. ii. If during this extension period a claim has been reported, You shall be required to first pay the balance of the full annual Policy premium. Our liability for the payment of such claim shall commence only once such premium is received. Alternately We may deduct the premium for the balance period and pay the balance claim amount if any and issue the Policy for the remaining period. iii. We reserve the right to modify or amend the terms and the applicability of the Portability option in accordance with the provisions of the regulations and guidance issued by the IRDAI as amended from time to time.

Portability Option. If You/the Insured Person has exercised the Portability Option at the time of Renewal of Your previous health insurance policy by submitting Your application and the completed Portability form with complete documentation at least 45 days before the expiry of Your previous Policy Period, then the Insured Person will be provided with credit gained for Pre-existing Diseases in terms of Waiting Periods and time bound exclusions up to the existing Sum Insured and cover in accordance with the existing guidelines of the IRDAI provided that: a. The ported Insured Person was insured continuously and without a break under another Indian retail health insurance policy with any other Indian general insurance company or stand-alone health insurance company or any group/retail indemnity health insurance policy from Us. b. The Waiting Period with respect to change in Sum Insured or plan shall be taken into account as follows: i. If the ported Sum Insured is higher than the Sum Insured under the expiring policy, Waiting Periods would be applied on the amount of proposed increase in Sum Insured only, in accordance with the existing guidelines of the IRDAI. ii. If the ported Sum Insured is lower than the Sum Insured under previous policy then the applicable Waiting Periods would be reduced by the number of months of continuous coverage under the previous policy. iii. If the proposed Plan is to be changed and not the Sum Insured then the applicable Waiting Periods would be applied as per the proposed plan. c. In case of different policies and plan in previous years, the Portability Option would be provided for the expiring policy or Plan which is to be ported to Us. d. The Waiting Period for maternity benefits is not reduced on account of the previous period of insurance coverage even if the previous insurance policy incorporated a Waiting Period for maternity benefits. e. The Portability Option has been accepted by Us within 15 days of receiving Your Proposal and Portability Form subject to the following:and i. You shall have given Us all additional documentation and/or information that We requested for; ii. You shall have paid Us the applicable premium in full; iii. We might have, subject to Our medical underwriting as per Our Board approved underwriting policy, restricted the terms upon which We have offered cover, the decision as to which shall be in Our sole and absolute discretion; iv. There was no obligation on Us to insure all Insured Persons or to insure all Insured Persons on the proposed terms, even if You have given Us all documentation; v. We have received necessary details of medical history and claim history from the previous insurance company for the Insured Person’s previous health insurance policy through the IRDAI’s web portal. vi. No additional loading or charges have been applied by Us exclusively for porting the Policy. f. In case You have opted to switch to any other insurer under Portability provisions(Porting Out) and the outcome of acceptance of the Portability request is awaited from the new insurer on the date of Renewal, i. We may upon Your request extend this Policy for a period of not less than one month at an additional premium to be paid on a pro rata basis. ii. If during this extension period a claim has been reported, You shall be required to first pay the balance of the full annual Policy premium. Our liability for the payment of such claim shall commence only once such premium is received. Alternately We may deduct the premium for the balance period and pay the balance claim amount if any and issue the Policy for the remaining period. iii. We reserve the right to modify or amend the terms and the applicability of the Portability option in accordance with the provisions of the regulations and guidance issued by the IRDAI as amended from time to time.

Portability Option. All health insurance policies are portable. You should initiate action to approach another insurer to take advantage of portability well before the renewal date to avoid any break in the policy coverage due to delay in acceptance of the proposal by the other insurer. If You/the Insured Person has exercised the Portability Option at the time of Renewal of Your previous health insurance policy by submitting Your application and the completed Portability form with complete documentation at least 45 days before before, but not earlier than 60 days from the expiry of Your previous Policy Period, then the Insured Person will be provided with credit gained for Pre-existing Diseases in terms of Waiting Periods and time bound exclusions up to the existing Sum Insured and cover in accordance with the existing guidelines of the IRDAI provided that: a. The ported Insured Person was insured continuously and without a break under another Indian retail health insurance policy with any other Indian general insurance company or stand-alone health insurance company or any group/retail indemnity health insurance policy from Us. b. The Waiting Period with respect to change in Sum Insured or plan shall be taken into account as follows: i. If the ported Sum Insured is higher than the Sum Insured under the expiring policy, Waiting Periods would be applied on the amount of proposed increase in Sum Insured only, in accordance with the existing guidelines of the IRDAI. ii. If the ported Sum Insured is lower than the Sum Insured under previous policy then the applicable Waiting Periods would be reduced by the number of months of continuous coverage under the previous policy. iii. If the proposed Plan is to be changed and not the Sum Insured then the applicable Waiting Periods would be applied as per the proposed plan. c. In case of different policies and plan in previous years, the Portability Option would be provided for the expiring policy or Plan which is to be ported to Us. d. The Waiting Period for maternity benefits is not reduced on account of the previous period of insurance coverage even if the previous insurance policy incorporated a Waiting Period for maternity benefits. e. The Portability Option has been accepted by Us within 15 days of receiving Your Proposal and Portability Form subject to the following: i. You shall have given Us all additional documentation and/or information that We requested for; ii. You shall have paid Us the applicable premium in full; iiiii. We might have, subject to Our medical underwriting as per Our Board approved underwriting policy, restricted the terms upon which We have offered cover, the decision as to which shall be in Our sole and absolute discretion; iviii. There was no obligation on Us to insure all Insured Persons or to insure all Insured Persons on the proposed terms, even if You have given Us all documentation; v. iv. We have received necessary details of medical history and claim history from the previous insurance company for the Insured Person’s Person‟s previous health insurance policy through the IRDAI’s IRDAI‟s web portal. vi. v. No additional loading or charges have been applied by Us exclusively for porting the Policy. f. e. In case You have opted to switch to any other insurer under Portability provisions(Porting Out) and the outcome of acceptance of the Portability request is awaited from the new insurer on the date of Renewal, i. We may upon Your request extend this Policy for a period of not less than one month at an additional premium to be paid on a pro rata basis. ii. If during this extension period a claim has been reported, You shall be required to first pay the balance of the full annual Policy premium. Our liability for the payment of such claim shall commence only once such premium is received. Alternately We may deduct the premium for the balance period and pay the balance claim amount if any and issue the Policy for the remaining period. iii. We reserve the right to modify or amend the terms and the applicability of the Portability option in accordance with the provisions of the regulations and guidance issued by the IRDAI as amended from time to time.. GoActive; UIN: MAXHLIP18109V011718 rt