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Reliance General Insurance — 5 times increase in yearly premium

Address:Mumbai Suburban, Maharashtra

I have a Family Health Insurance Policy with Reliance Genaral Insurance for the last 3 years. This year they have raised the premium from less Rs.3000/- last year to Rs.13770/- this year. They say this is done due to various reasons like Inflation,Medical cost ,claims.and with all the provisions under Insurance Regulatory Rules and Regulations.
I would like to know whether the Insurance Regulatory Board really approves to such increase
Ashok Shetty
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Yes same thing has happend to my Reliance Health Gold Policy of my family. I am holding policy since last three years. Last year I paid premium of Rs 7798/-. For the current year I received renewal notice for Rs 50778/- ?????!!! . Increase in premium amount by nearly 550% !!! . Is IRDA allowing the insurance companies to increase the premiums like this or is Reliance fooling the customers on using IRDAs name?

Mukesh, ahmedabad
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