Licentiate Examination - IC 14 - Regulation of Insurance Business Exam - Important Points
Page 26 Of 55
Go to:
A policyholder desirous of porting his/her policy to another insurance company shall apply to such insurance company to port the entire policy along with all the members of the family, if any, at least 45 days before, but not earlier than 60 days from the premium renewal date of his/her existing policy.
Life Insurers may offer long term Individual Health Insurance products i.e., for term of 5 years or more, but the premium for such products shall remain unchanged for at least a period of every block of three years, thereafter the premium may be reviewed and modified as necessary.
Migration of health insurance policy - not applicable for Travel and Personal Accident policies.
The existing insurer, on receiving such a request on portability shall furnish the requisite data for porting insurance policies in the prescribed format in the web portal of IRDAI within 7 working days of the receipt of the request.
No commission shall be payable to any intermediary on the acceptance of a ported policy.
MODELEXAM® 
www.realsoftinfoplan.com