Can I port my term insurance?

No. As per IRDAI rules, term insurance plans are not portable. 
 

So even if you are unhappy with your current life insurance company and want to port your term plan to another insurer, with all your term policy benefits intact, you cannot. 
 

It is not as simple as porting your mobile number. 
 

See, in India, there are many challenges in implementing term plan portability due to a lack of product standardization. 
 

This means, currently, there are no common product features across insurers for you to port your plan with all your benefits intact. 
 

You may also have to pay higher premiums and/or take additional medical tests as every insurer assesses term plan applications differently. 
 

So, long story short, you cannot port your term insurance plan.

Here are a few things to remember when buying term insurance to avoid this situation - 

• Look before you leap - Have a clear idea of your requirements. Read up on various term insurance plan options available. Consult an insurance advisor if you want.
   

Want to know how to choose life a insurance company? Let’s find out.
 

• Try the free-look-in period - This is the period where you have the freedom to cancel your term policy and get a refund in case the policy is not a good fit for you. Use this time to review the term policy you have just purchased. Go through the documents. Consult your insurance advisor if you have any doubts. And then, cancel the policy if it is not working out for you. That way, you won’t feel the need to port your term plan later.