Irda — High Abnormal Increase of Health Insurance Premium by HDFC ERGO

Being an IOB customer, I have a Bank tie up Easy Health Insurance Policy with Apollo Munich Ins. Co. Ltd. for the last 3 years (Easy Health Group Insurance Policy No. PE[protected]. At the time of taking the Policy, I was told by Bank & Ins. Co. that my annual premium will be Rs. 7981/- till 70 years (61 - 70 years bracket) and accordingly the said amount has been debiting from my account by the Bank every year. The premium includes 'Personal Accident Insurance' of Rs. 5 lacs. To my utter disbelief I have got a mail from HDFC Ergo Ins. co. Ltd. that they have taken over Apollo Munich Health Ins. Co. Ltd. and my premium amount has been revised from Rs. 7981/- to Rs. 12628/-. This is shocking as the increase is more than 58% which is unbelievable. I'm a retired person and 68 years old and till date I have zero claim. It is widely reported that HDFC Ergo has increased the premium unreasonably and unethically to recover the acquiring costs of Apollo Munich. As a Controlling Authority I appeal to you to initiate action to revise the premium at a reasonable level, preferably 10% increase and reduce my hardship for which I shall ever grateful to you. Hope you would kindly accede to my prayer.