New India Assurance — complaint against revised premium an increase of 172.5%

Customer care
New india assurance company ltd.
Ref: policy no;[protected]
Sub: complaint against revised premium an increase of 172.5%.
Dear sir,
I am a valid holder of mediclaim policy from new india assurance company ltd since 19/11/2000. Prior to that for few years i had the mediclaim policy from the same company through can card division bangalore. All this counts more than 20 years. Now all of a sudden the new india assurance company increased the premium from rs.17, 194/- (Rupees seventeen thousand one hundred ninety four only) to rs.46, 855/- (Rupees fourty six thousand eight hundred fifty five only), this is an increase of 172.50%, this figure is given by the new india assurance company agent mr. O. M. Rajeev. After a number of discussions he advised us to reduce the sum assured from rupees two lakhs to one lakh and the premium charged is rs.29, 450/- (Rupees twenty nine thousand four hundred fifty only)
Sir we are senior citizens and at the end of our life time, instead of giving some sort of help and protection, this insurance company is putting us in an extreme frustration and difficulties. Any one can imagine or plan an increase of 10 to 15 %, this is understandable and acceptable. But the increase is 172.5 %, it is a shock of our life.
I s this the policy of the company against the aged and the middle class? Please don’t forget that this is a fully government owned public sector company. Every penny of the company comes from the citizen of this country. They should always have some social responsibility and concern to the people of nation. Being a nationalised company the focus and motive should not be always for profit, but not to go on a lose. But no one can justify an increase of 172%. Are they not answerable to the government?
For your ready reference i am attaching the scan copy of the last year’s and the renewed policies.
Also i am sending a hard copy of the same to your office address. Please let me know whether i have to do any other formalities in this case. I would like your speedy intervention and suitable solution.
Thanking you
Yours sincerely

N. J. Abraham.
Flat no.2a, hill palace meadows, cochin palace p. O., tripunithura, ernakulam, 682301, kerala.

12 dec. 17