Portability On Health Insurance Products Postponed!
The execution of portability of health insurance related products has been postponed for three months by the Insurance regulator IRDA. In a recent press release IRDA announced that they will put portability of health insurance policies into practice among nonlife insurers in the country before 1st October 2011. This Portability will help the health insurance holder in case of wanting to shift from one insurer to the other.
According to IRDA, the health insurance policy holder can also have benefits from previous insurer but for that it is necessary for the insurers to have historical data on health related details. The managers are going to come up with an online facility, through which, insurers can fill all the necessary details on health insurance policies issued by them.