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Occasional Contributor
Posts: 17
Registered: ‎23-08-2017

Can I transfer my policy from one insurance company to another without losing the renewal benefits?

Can I transfer my policy from one insurance company to another without losing the renewal benefits?

1 REPLY 1
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Contributor
Posts: 56
Registered: ‎03-04-2017

Re: Can I transfer my policy from one insurance company to another without losing the renewal benefi

 Yes. The Insurance Regulatory and Development Authority (IRDA) has issued a circular making it effective from 1st October, 2011, which directs the insurance companies to allow portability from one insurance company to another and from one plan to another, without making the insured to lose the renewal credits for pre-existing conditions, enjoyed in the previous policy. However, this credit will be limited to the Sum Insured (including Bonus) under previous policy. For details, you may check with the insurance company.