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Health insurance premium rates to rise by 30%

United India will introduce the new rates from this month

June 20, 2013 3:55 IST | India Infoline News Service
The four public sector general insurer have received approval from IRDA (Insurance Regulatory and Development Authority) to increase premium for individual mediclaim policies, according to a media report.

Prices are set to rise in the range of 25% to 30%, depending on the age group of the insured, the report added.

The four insurers include United India, New India Assurance, National Insurance and Oriental Insurance.

United India will introduce the new rates from this month, while New India Assurance will implement the new policies from August, the report further said.

National Insurance (NIC) will revise rates from October and Oriental is also looking at raising rates from the second half of the current fiscal.

Earlier there were reports in media, that the four general insurers were looking at raising health cover premiums.

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