2024-05-04 13:06:10
Mumbai: If you earn well then it has become necessary to take health insurance at this time. As the cost of treatment is increasing, it is wise to take a health insurance policy. But now once again the premium of health insurance policy is going to increase. After the Corona epidemic, there was a sharp increase in its premium.
Insurance companies have started sending information
The happiness of policy holders, who were happy with the order of insurance regulator IRDAI to reduce the waiting period, did not last long. In fact, after IRDAI ordered to fix the waiting period from the current four years to a maximum of three years, policy holders have started receiving e-mails from insurance companies. In which it is being said that after the new rules, they are forced to increase the premium according to their location and age. HDFC ERGO said in a mail sent to its customers that they will have to increase the premium rates by an average of 7.5% to 12.5%.
Maximum waiting period now three years
ACKO’s Retail Health Vice President Rupinderjit Singh said that IRDAI has reduced the maximum waiting period for pre-existing conditions from four years to three years from April 1. After this decision, most insurance companies may increase the cost of insurance by 10-15%.
Why are you increasing?
Waiting period in health insurance is the period for which you have to wait before availing the benefits of the insurance. Maximum waiting period for pre-existing conditions means that if you are already suffering from any disease, you will have to wait till the waiting period specified in the health insurance is over before claiming any benefits. Pre-existing diseases means those which have been diagnosed 48 months before purchasing the health insurance policy. These diseases include high BP, diabetes, thyroid etc. IRDAI has done this for three years now and hence companies feel that this will increase their risk and they are increasing the premium.