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You can continue with group health insurance cover even if you change jobs. health insurance; Group health insurance cover can continue even if you change jobs
By Amit - January 23, 2023
- Hindi News
- business
- Health Insurance; Group Health Insurance Cover Can Continue Even If You Change Jobs
New Delhi38 minutes ago
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You changed jobs or took a break for a while. In such a situation, the group health cover ends. You will be worried about this, but you can also continue with the health insurance plan provided by your employer. Let us know from Yogesh Agarwal, Founder and CEO of OnSurity, how this will happen.
Convert Group Policy to Individual Health Policy
As per IRDAI, the employee can migrate the group policy to individual health policy. In this way the benefits of group health cover also get migrated. Waiting period benefits are included, which you were getting in the group policy provided by the employer.
How to port from group to individual plan
- Apply for porting the policy to the insurance company. This application should be given at least 45 days before the last day of employment.
- Within 5 days after leaving the job, you can inform the company that you want to migrate the group policy to the individual policy.
- The insurance company may ask for additional documents and information before issuing a new policy. You have to provide these.
- It is entirely up to the insurance company whether it wants to issue a retail policy or not.
Benefits of Policy Port
- Exemption from waiting period. That is, you can claim anytime. The new policy has a waiting period ranging from 30 days to 48 months.
- If the waiting period for the treatment of any disease in the new policy is more than that of the group policy, the insurance company has to compulsorily inform it at the time of porting.
Amit
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