IRDA has set 1st October 2011 as the date for commencing health insurance portability. Portability facility for insurance will be available only to policy holders who have insurance of Rs 1 lakh and above.


 As per the guidelines of IRDA,  a policyholder will have to approach an insurer 45 days before his policy with the old insurer expires, to enable the new company consider his application. The new insurer will then approach the policy holder’s earlier insurer within 7 days of receipt of application. The old insurer has to provide the policyholder’s medical and claims history to the new insurer within seven days thereafter. The IRDA is already in the process of creating a website on which the previous insurer can upload the policy holder’s data.

 Insurance Portability Guidelines

The portability guidelines also specify how one can switch from group insurance to individual insurance. The insured under the group policy will have to first shift his policy into an individual or a family floater cover with the same insurance company which has provided the group policy. After a year he will have the option to shift to any other insurance company just like any other individual policyholder.