Portable health policy to be released soon
Benefits of Portable Health Policy
* Facility to switch to other insurance companies
* Age limit to be increased more.
There is no need to continue with the same insurance company if the service is not satisfactory. Also there is no need to fear to loose no-claim bonus, fear about the decreasing of coverage amount. After launching of portable health policies, people can easily switch to other insurance company. There will be no loss in the benefits they are to be offered to those customers.
The working on portable health policy has come to an end. This new product has got clearance form General Insurance Council. It is to be sent to the Insurance regulatory authority, IRDA. IRDA will approve this product in 90 days at the maximum. Earlier, it was though of selling this product to the customers of age group 18 to 40. Recently, this limit was extended to 3 months to 65 years. By this it will be available to many people.
There are many advantages of portable health cover. For instance, a new company will not deny a person showing the reason that he has heart problem before hand itself. Presently, insurance companies are providing protection only to the diseases that occur only after four years of taking the policy. In the case of diseases occurring in the first year, many companies are denying to claim showing the reason that they are present before hand itself. The new policy will be applicable to all non life insurance companies. At the time of renewal of policy, a person can switch to a new insurance company.