Porting hospitalisation policy; if this, then that Premium

Discover essential tips on when to port your hospitalization policy for better coverage and service without losing existing benefits.

Just as hospitalisation or any insurance for that matter, is individual specific, so is porting. There is no standard formula but let us see some good indications of who should port when, and when porting is not the best solution.

Porting becomes an option for various reasons. You are unhappy with your insurance company’s service or the policy you have. You notice that other companies appear to have better policies and service. Service includes customer service, promptness in addressing queries, concerns and evolving requirements whether by the insurer or his service providers like the TPA.

Of course it includes claims settlement, the touchstone of an insurance cover.

Your policy may have some constraints, including the inability to increase sum insured, sub-limits or co-pay that affect the scope of your claim, exclusions that other policies/insurers do not have, high premium rate and so on.

Frustration with service or an aspiration to get a better cover at a better rate is usually the reason most people think of porting. Here is a starter matrix for decision making.

You may consider porting if: