Do insurance premium increase every year?

[Dhawani Shah]

Once we buy health insurance ,then does it premium increase every year or it will remain same ? If it increases every year then by what percentage does it increase?


Thanks

[Madhura]

Yes, every year insurance premium increases with age of the insured. It may or may not be a fixed percentage e.g. depend on age, job profile, past year claim ratio etc.

[krshma]

Yes, it increases every year because of following reasons:
1) increasing age factor
2) Medical inflation
3) demographic of those insured by your insurance company