Pair base insurance policy with super top-up to limit premium cost

Opt for insurers with lenient no-claims bonus policies to tackle need to hike sum insured periodically

Over the past year, health insurance premiums have surged between 10 and 25 per cent, according to industry experts. Customers must make use of all available strategies to cope with the escalating health insurance premiums.

Rising claims  

A key contributor to the surge in health insurance premiums is the increase in the incurred claim ratio (ICR). 

“Individual health insurance policies’ ICR has increased as follows: 73 per cent in 2019-20, 85 per cent in 2020-21, and 96 per cent in 2021-22,” says Nayan Goswami, head-sales & service, SANA Insurance Brokers.

Insurers have borne the brunt of heavy claims over the