I have a Group Policy, can I benefit from Portability?

Group health insurance policies are unique and more flexible. In case you are a member in a group policy, your individual risk is not accessed separately in providing coverage.

An individual health insurance policy has three waiting period conditions:

  1. Waiting period for pre-existing diseases coverage.
  2. Specific ailments/diseases waiting period.
  3. Initial waiting period of 30 days before the insurance can be effective for a medical condition.

In general, the customer will benefit from the above waiting period conditions that are waived off in group insurance policies. As a member in the group policy, your coverage is incepted the date you become a part of the group with no waiting periods.

Portability is now also applicable for customers insured under a Group plan. Any insured member under a group insurance plan including family members covered under a group health insurance plan are allowed to port from the existing group policy to an individual policy.

The broad conditions applicable for such migration from group insurance policy to an individual policy include the following:

  • In migrating from group health insurance to individual health insurance policy, it is the number of years of continuous coverage from your group insurance policy that is portable. For instance, let us consider you have been covered under a group cover for three years. You decide to port your policy to an individual health cover that has a waiting period on pre-existing diseases condition of four years. The new individual policy will have a waiting period of only one year for pre-existing condition waiting period.
  • You have to choose an individual policy offered by the same insurance company that covered you under a group plan.
  • Portability to another insurance company is only allowed after the first year.
Queries about Group Policy Portability