Premium should be less than 10% of sum insured on a senior's health policy

The average annual increase in a senior citizen's health cover should be 4-5 per cent

The premiums charged from senior citizens on their health insurance policies are not low (see table). But what also worries senior citizens is the rate at which their insurers might hike the premiums at the time of renewal. Many of them worry that their premiums could rise to such unaffordable levels that they could be forced into abandoning their policies, just when they need them the most.

How much is the premium? As the numbers in the table tell us, the premiums can range from about 2.5 per cent of sum insured at age 60, to about 9 per cent