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Health Insurance : Health insurance will be expensive, if you take these measures, your premium will not increase

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Health Insurance : Health insurance will be expensive, if you take these measures, your premium will not increase100% return on premium, cashless hospitalization facility abroad and more, know details

According to the Marsh-Mercer benefits survey, the cost of health policies received by companies to employees is expected to increase by 15 percent this year.

Your health insurance premium is going to increase. The premium for Group Health Insurance has increased in April. Experts say that the premium of the rest of the group health insurance is also set to increase at the time of renewal.

According to the Marsh-Mercer Benefits Survey, the cost of health policies received by companies to employees is expected to increase by 15 percent this year.

Experts say that soon the premium of individual health policy is going to increase. The reason for this is that due to the claims related to Kovid-19, the pressure on the insurance companies has increased. Insurance companies are trying to get the approval of the regulator to increase the premium. Experts say that the health insurance premium can go up by 8 to 15 percent.

Medical expenses have increased worldwide due to the Corona epidemic. This has a direct impact on health insurance companies. Abhishek Bondia, Co-Founder and Principal Officer, SecureNow Insurance Brokers, said, “The use of health insurance has increased tremendously due to Kovid-19.

Apart from this, pent-up demand is also coming. People who have put their surgeries and procedures on hold. Yes, they are getting them done now. This has increased the claims. This has a direct impact on the insurance companies.”

He believes that health insurance companies can increase the rates every three years keeping in view the claim. For policyholders too, moving from one age bracket to another can result in a sharp jump in premiums. Normally the premium remains stable at the age of 35 to 39 years. Then after crossing 40, it jumps.

What should we do to stop the premium on renewal from rising?

If you are young then you have relatively more options. You can compare premiums of insurance companies. If there is the same benefit as another company is providing then you can port your policy. You should insist on a policy that is popular. Some companies withdraw their existing products and move the policyholders to other products. This greatly increases the premium.

S Karakera, Co-Founder, Ditto Insurance said, “If you buy popular products, which are in the market for 2-3 years, then the insurance company will not have much scope to discontinue that product or its premium will not increase much. ”

How do I select a product that can be easily ported?

For this, you have to take care of the same things that we keep in buying a new policy. The premium should be low, check the feature, check the caseless network of hospitals. Then you will also have to check the claim settlement record.

Also see how digital support is for policy support and claims service. “You should choose a policy which has higher no-claim bonus. This will give you more sum assured without paying additional premium,” Bondia said.

 

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