How to Switch From Group Health Insurance To Individual Health Insurance?

There are several variants of health insurance plans available in the Indian market. Some of the most common ones include individual health insurance, family health insurance, and group health insurance plans. Individual health insurance is a policy that is taken by a person for themselves or a family member. However, group health insurance is mainly offered by your employers.

Many a time, people who have a health insurance plan also get included in the group health plan provided by their organisation. On the other hand, some people just have group health insurance plans under their name. Now, if an individual was to leave the company, he/she will be removed from the group health plan.

But there are a few companies that allow people to switch from group health insurance coverage to individual health insurance. So, if you are looking to do the same, we have explained the process below.

Switching from a group health plan to individual health insurance

The process of shifting from group to individual health insurance plan is simple. Here’s what you need to do –

Step 1: At first, you have to select an individual health insurance plan that fulfils your needs. Here, take into consideration the coverage of the policy, benefits, exclusions, premiums, etc. These factors may vary from insurer to insurer. Moreover, you can use the health insurance calculator to determine the premiums charged on your selected coverage and benefits.

Step 2: Once you have shortlisted the policy you want to buy, fill the application form to port from group health insurance to an individual health plan. Here, you are supposed to provide details of the existing health plan, claim experience, age proof, health history, and declarations (if any). Some insurers might ask you to undergo a medical check-up again as well.

Step 3: The duly filled application form and the necessary documents should be submitted 45 days before the existing policy’s renewal.

Step 4: The insurer will assess the application and inform you regarding the term and conditions of the new policy and the premium amount you need to pay. Usually, it takes up to 15 days for the insurer to revert on the same. If you agree to the terms and conditions of the new policy, proceed to make an online premium payment, and the new individual health policy will be issued in no time.

Things to keep in mind when porting from group health insurance to individual health insurance

  • As per the IRDAI guidelines, you can switch from group health insurance to individual health plan with the same insurer by fulfilling certain formalities. After completing one year, you can port the policy to another insurer.

  • For the said conversion, you need to inform the insurer 45 days prior to the existing policy’s expiration.

  • Note that a few insurers can suggest the applicants undergo medical examination again.

  • Ideally, group health insurance has no waiting period, and the pre-existing diseases are covered from day one. But in case the group health plan has a waiting period, then when you switch your plan to individual health insurance, the waiting period is carried over the new policy. So, if you serve part of the waiting period in a group health plan, the remaining will be carried over to the new individual health insurance plan.

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