Rampant abuse by niva bupa on increasing heat insurance premium by 100% in 1 year, without me even having a single claim since policy held over 6 years
Edit - health insurance
This company is just amazing. They increased my premium in 2024 by over 25%, and after that increase, I reached out to them asking why there was such a high increase in the premium. They responded saying it is inflation, IRDA approves all premium increases, and it is as per regulation.
After that, my new renewal came in 2026. Mind you, over all these years since I started the policy in 2020, I have not filed for a single claim till now. In 2026, just to be careful, I renewed my policy only for 1 year. For all the other years from 2020 till 2024, I renewed my policy every 2 years, so I was paying the premium for 2 years. This year, when I paid a single-year premium, my single-year premium was equal to my 2-year premium in 2024, which means they literally doubled my premium to keep the policy.
It seems just because I've started complaining for the last 2 years that my premium increase has been really more rampant. It is sad, and this is after filing 2 complaints to the grievance cell. Still, they come back with just literature: it is linked to inflation, and it is approved by IRDA. how are you all keeping up with this abuse. I can't imagine my plight if i actually file a claim or actually need to use their service. Frankly, I am at a loss for words for this company. Even after having no claim and just paying premiums, I will share some exact numbers for all of you to get a perspective on why you should not go to such an abusive firm. If somebody is an influencer and wants to take up this cause, I have all the company numbers, etc., because I really want to showcase to our community what such companies are doing. Just because other people are too busy in their lives to take this up