[Resolved]  Reliance General Insurance — Exorbitant increase i.e 6.5 time(650%) increase in renewal premium in the health care policy by Reliance General Insurance

Address:

Mumbai Suburban, Maharashtra

Dear Sir,

I have been holding RELIANCE GENERAL INSURANCE Healthwise Policy Plan Gold, Current Policy No [protected], valid till 19/02/2011 for sum of Rs 200000/-(Rupees Two Lakhs). This healthwise policy was taken by me from M/s Reliance General Insurance since 20th Feb 2007. The policy has been renewed regularly and my premium for the last renewal was Rs 2658/- inclusive of tax and No claim Discount. Till date there has been no claim from my side.

However the renewal notice by the Reliance General Insurance dated 4/11/2010 has put me in a great shock as the gross premium demanded from me for the Gold Plan which I am currently holding is Rs 18336/-(Rupees Eighteen thousand Three Hundred Thirty Six) The net after no claim discount comes to Rs 14669/-. which works out to 6.5 times or roughly 650% increase. This exorbitant unreasonable increase is effected without any claim from my side. The reason they have been quoting is increase in the treatment costs.

In spite of my contacting the company helpline and explaining, the problem has not been addressed. The insurance firm is asking me to switch over to standard plan, from the Gold plan which i hold and seeking a premium of Rs 8796/-. I fail to understand the logic behind the increase to such an extent, and seek suitable redressal.

Thanking You

Yours faithfully

Dinah M Nazareth
302/A, Florence,
Linking Road. Kanderpada,
Dahisar West
Mumbai 400068

Phone [protected]