Can insurance benefits provided by your ex-employer be retained?
Mint Mumbai|April 28, 2023
Insurance policy can be ported as per norms issued by Irdai. Customers can switch from group policies to individual policies or from individual-to-individual policies.
Tapan Singhel
Can insurance benefits provided by your ex-employer be retained?

I will be leaving my current organization in a month and would like to know how I can retain the benefits of my company's insurance policy, which I have been covered under for the past three years. What is the most effective way to continue with my current policy? -Shefali

The current insurance policy can be ported as per the norms issued by the Insurance Regulatory and Development Authority of India (Irdai). The guidelines stipulate that policyholders can move from group policies to individual policies or from individual-to-individual policies as well’. Under portability norms, customers can switch from one insurer to another insurer, where the credit or benefits on continuity of the coverage would be passed on from the previous insurance policy to the new insurance policy.

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