Medical insurance portability

This option is available to all team members who are enrolled in the Gen India group health insurance policy. Portability is applicable only in the case of retirement or resignation from Gen.

Team members continue the same cover after leaving the company: The medical sum insured cover is ₹6,00,000 for team member, spouse, and up to two children, and the sum insured cover for parents is ₹5,00,000.

After the underwriting process, if the proposal is accepted, continuity would be given for all the waiting periods under the policy, including the waiting periods for preexisting illnesses and time-bound exclusions.

• For example, most of the individual health policies exclude the joint replacement surgeries for a period of three to four years. Also, preexisting ailments—any ailment present before joining the policy (e.g., heart disease, cataract, cancer)—normally have a waiting period of four years. With portability, the waiting period would continue from the time you first joined the Gen policy.

Inform Marsh that you wish to port out to individual health insurance.

You’ll receive an email from Marsh to complete and return a set of documents. You must return these documents to Marsh at least 30 days prior to your departure from Gen:

• New proposal form
• Age proof
• All medical reports, consultation letters, investigations, etc., in case of any adverse health declaration
• Experience or release letter from Gen
• Any other document requested by Marsh or Bajaj Allianz

The proposal form will be sent to Bajaj Allianz for approval. Bajaj Allianz (and not Gen) is responsible for approving the portability proposal and setting the premium amount.

When you port to individual health policies, Bajaj Allianz will offer you their existing approved IRDA health policies. Accordingly, certain conditions may apply that may disqualify covering some members. Check with Marsh before making your decision.

A medical check-up before joining the policy will be mandatory for all members ages 46 and older. The final decision will be based on the review of the completely filled proposal form.

When you apply for portability, you cannot make changes to the number of dependants. All the dependants covered under your group policy will also be covered under your individual policy unless dependants are covered somewhere else or the proposal is declined due to adverse medical history.

If you wish to enhance or increase the sum insured to more than ₹6,00,000, the continuity benefit will be applicable only to ₹6,00,000, not on the enhanced amount. For example, if you apply for ₹10 lakhs as the sum insured at the time of portability, you will be eligible to get the continuity benefit for only the original amount of ₹6,00,000; the balance of ₹4,00,000 will not have the continuity benefit.

When you switch from the group health plan to an individual health plan, the insurance policy will be governed by the terms and conditions of the individual health plan. Contact Marsh with any questions.