Common use of Portability Option Clause in Contracts

Portability Option. If the Insured Person has exercised the Portability Option at the time of Renewal of Policyholder’s Group Health Insurance policy to a suitable similar Policy or Individual health Insurance policy or a Family Floater policy with the Company by submitting application and the completed Portability form with complete documentation at least 45 days before the expiry of Insured Person previous Coverage 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 subjected to Board approved Underwriting guidelines and in accordance with the existing guidelines of the IRDAI.

Portability Option. If the Insured Person has exercised the Portability Option at the time of Renewal of Policyholder’s Group Health Insurance Criticare policy to a suitable similar Policy or Individual health Insurance policy or a Family Floater policy with the Company by submitting application and the completed Portability form with complete documentation at least 45 days before the expiry of Insured Person previous Coverage 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 subjected to Board approved Underwriting guidelines Guidelines and in accordance with the existing guidelines of the IRDAI.