I would like to share my experience with ManipalCigna regarding a substantial premium increase on my parents' health insurance policy and seek views from other policyholders who may have faced a similar situation.
My parents have been covered under the policy continuously for more than 7 years. At the latest renewal, I was surprised to see the premium increase by approximately 120% compared to the previous year.
When I sought clarification, I was informed that the increase was due to:
1. A product revision approved by IRDAI.
2. My father's age increasing from 65 to 66 years.
While I understand that insurers are permitted to revise premiums and products subject to regulatory approval, I requested a detailed explanation so that I could understand how such a significant increase was arrived at.
Specifically, I requested:
• Details of the product revision that resulted in the increase.
• The basis on which the revised premium was calculated.
• The impact of the age-band change on the premium.
• Information demonstrating compliance with applicable IRDAI regulations and guidelines.
• Copies or references to the relevant documents, circulars, or policy revision details relied upon.
Another concern is that IRDAI issued a circular in January 2025 stating that annual premium increases for senior citizens should generally not exceed 10% without regulatory approval.
Since my parents' premium increased by approximately 120%, I specifically requested clarification from the insurer on how this increase complies with the applicable IRDAI framework, whether any product repricing or regulatory approval was involved, and how the increase was calculated. Unfortunately, despite repeated requests, I have not received a detailed explanation addressing these questions.
Despite multiple emails and follow-ups, I have not received a satisfactory response addressing the specific questions raised. The replies received so far, including from the Grievance Redressal Officer (GRO), have largely repeated the same explanation that the increase was due to a regulator-approved product revision and age-band change, without providing the detailed justification requested.
In an effort to resolve the matter, I also escalated the issue through Bima Bharosa (IRDAI's grievance platform). Unfortunately, even during that process, I was unable to obtain a substantive explanation to the questions raised. The insurer continued to rely on essentially the same response that had been provided from the beginning, without addressing the detailed information requested.
As a final resort, I have filed a complaint before the Insurance Ombudsman. However, as many policyholders may be aware, the Ombudsman process can take considerable time before a hearing or final decision is reached, and I am currently awaiting further progress on the matter.
My concern is not merely that the premium increased. My concern is that when a policyholder is faced with an increase of this magnitude after many years of continuous coverage, there should be transparency regarding how the increase was calculated, what specific product changes justified such an increase, and how the insurer's actions comply with applicable regulatory requirements.
I would be interested to know whether other ManipalCigna policyholders, or policyholders of other insurers, have experienced similar premium increases and whether they were provided with a detailed breakdown and explanation when requested.
Has anyone else faced a similar situation? If so, were you able to obtain a detailed premium calculation or satisfactory explanation from the insurer?
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