Summary
Portability was meant to keep insurers honest by keeping the exit door open.
Picture a scene that plays out in thousands of Indian households every renewal season. A 62-year-old retired teacher, tired of chasing her insurer over a delayed claim and stung by another premium hike, decides she has had enough. A friend tells her about porting – carrying the policy and waiting periods to a better insurer. She fills the forms, digs out all her policy papers and sits through a medical test.
Six weeks later, a politely worded letter arrives: application declined.
