health insurance premium normally 1 year policy. hence it has be renewed every year.
Normally premium will change depending upon the age of the person in the slab. below 35 years, 36-45 years, 46-55 years-, 55-65 years.
If you are crossing the slab the premium will change and otherwise it is same., depending the policy.
since now a days most companiesinstead of giving cumulative bonus for no claim, give discount on the premium while renewal if there is no claim in previous year.
But there may be service tax change intorduced by govt. which will effect premium change eigher upward/down wards.
There may also be premium change with the approval of the IRDA.
Health insurance premium is yearly renewable contract and premium is Dependant on the age at the start of policy period. The premium is also Dependant on claim. In case of no claim the insurance companies offer discount on premium for the subsequent year. Therefore, the premium for health insurance is not constant and varies from year to year.
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