Is there a limit on how much insurance companies can increase renewal premiums by? As individuals age, could they face a 40-50% hike in premiums?
—Name withheld on request. Unfortunately, there’s currently no cap on health insurance premium increases in India. This, indeed, can be a burden, particularly for older individuals. While premiums can rise significantly year after year, the cost of healthcare itself is also climbing. And, without health insurance, managing unexpected medical bills can be even more challenging.
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