The Insurance Regulatory and Development Authority (Irda) has issued the final guidelines on health insurance portability, clearing the decks for their implementation from October 1. Till now, policyholders were reluctant to switch to a new health insurer mainly because the transfer of the waiting period credit for pre-existing diseases (PED) was generally not allowed. Typically, pre-existing diseases are covered only after one to four years of the policy being in force, depending on the company and the illness. This is referred to as waiting period in insurance industry parlance. Portability will allow policyholders dissatisfied with their insurer’s services

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