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February 26, 2011

Issue of portability for Health Insurance!

In a significant development, the Insurance Regulatory & Development Authority has come with new guidelines on portability of health insurance for the policy holders. The norms will be effective from July 1. The insurance regulator said that the health insurance policy holders can easily change insurance companies without fear of losing benefits. But they 've to wait for some time.

As per the new guidelines, the pre-existing illness & bonus money of the health insurance policy holder can be transferred to one insurer to another if they wish to switch the existing company. The law will be applied to Life & other General Insurance Companies.

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