General Insurance Council has introduced an opportunity for the Mediclaim policyholders to change their insurance provider, in case they are displeased with their current insurers. The exciting part here is that the subscribers will be able to avail the new service without witnessing any change in the premium amount.

The service comes with a clause that the only those policyholders who have subscribed for more than Rs. 1 lakh, will be able to opt for it.

The Council said that this clause has been introduced to broaden the coverage.

General Insurance Council Secretary-General, S L Mohan, said that those insured for Rs. 1 lakh and above, will be given the portability option, as well.

He further said that the insurers will be making this service available only after they are being given a green signal by the regulators.

Currently, the health coverage provided the insurers are only for one year. In case, there are no claims for the coverage, the policyholder deserves an additional benefit for each year where the claim is not provided.

However, the service is not likely to benefit the senior citizens, as the policies differ for them in each insurance Company.