Insurer Cannot Arbitrarily Raise Premium If Policyholder Develops Health Condition Soon After Purchase
Last Update Date: 06-10-2026
Published by Outlook Money
Abhishek Kumar's role: Quoted
Abhishek Kumar explained that premium changes must go through IRDAI's product process and apply to all holders of a product. He said clauses allowing changes after new health conditions conflict with IRDAI rules and selective hikes can be challenged.
More of Abhishek's views on insurance
The article explains that health insurers in India cannot raise premiums for one policyholder just because they develop an illness after buying a policy. Any premium revision must apply uniformly to all holders of a product under IRDAI rules, and those facing unfair renewal terms can complain to the regulator or the Insurance Ombudsman.
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Insurer Cannot Arbitrarily Raise Premium If Policyholder Develops Health Condition Soon After Purchase