Hi,
I have purchase medical insurance from “New India Assurance ” in May 2010. The plan is Mediclam 2007 policy for my family. Suddenly this year agent told me that medical insurance for the year has been increased by the company itself. Last year I was paying around 17K/year now I have to pay 24K/year. I would like to know can Insurance company change its premium (apart from age change means as age increased premium also increased) without any concern of the customer.
I can understand for new customer they can ask for more premium but for old customer who are regularly paying the amount and not availing any hospitalization claim till now for them it is additional burdon.
Any body clarify my doubt.
Thanks in advance.
Thanks,
Upendra