Health Insurance Premium Increases By Year India

Buying a health insurance is an imperative step that you can take towards protecting yours and your loved one s health.

Health insurance premium increases by year india. Health insurance policyholders are seeing their renewal premiums go up by 5 100 because of the wider coverage of the insurance plans reported the times of india most insurance companies have raised the premium rates on health policies after the insurance regulator ordered them to widen the scope of coverage and standardise conditions for. Doctors need to be paid more medicines become more expensive tests and medical treatments get more sophisticated expensive. Thus insurance companies increase the premium amount.

To make health insurance products more customer centric the insurance regulatory and development authority of india. The policy covers individuals families between the age of 3 months and 65 years. The new medical therapies and revolutionary medications are also growing as the century is advancing.

New india universal health insurance apl offers coverage to the policyholder and provides reimbursement of the hospital expenses in case of illness or injury sustained. With multiple factors coming into play the covid 19 pandemic being one of them health insurance premiums have jumped up to 100 percent this year. Starting from october your health insurance premiums are set to increase.

With each passing year the effectiveness of health insurance plans increases. Factoring in the technological advancements in healthcare and inflation the medical cost rises by 15 every year e. New india universal health insurance apl.

India life health health insurance policyholders are seeing their renewal premiums go up by 5 100 because of the wider coverage of the insurance plans. Archived articles are available to magazine subscribers only.