Outlook Money
One should begin the porting process at least 45 days before the current policy expires to ensure a seamless transition. Delays in approval can result in claim denials due to non-commencement of coverage.
Simply receiving a new policy does not mean that coverage has started. Policyholders must verify that the risk commencement date aligns with the expiration of the old policy to avoid unexpected rejections.
No-claim bonuses and waiting periods served under the old policy should be carried over to the new insurer to prevent financial losses or increased out-of-pocket costs.
If pre-existing conditions were covered in the previous policy after serving a waiting period, confirm that the new insurer honours that waiting period instead of resetting it.
In case of urgent medical treatment while porting, check if the old insurer can extend coverage. Else, file a claim under the previous policy before its expiry to avoid financial burden.