Same. They increased last year onlyIs the renewal amount same as previous year ? Mine is getting due in July .
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Same. They increased last year onlyIs the renewal amount same as previous year ? Mine is getting due in July .
Always have one retail policy along with the group policy.Lombard has cited 14% annual medical inflation and increased renewal premium from 16.5k to nearly 20k. Coverage will increase by 10% from 50 lakhs to 55 lakhs. This can't be ported to other retail policies. Since it is group health, it can be terminated anytime. In two minds now whether to renew or go for fresh retail policies like Ergo Optima Secure.
I also got a quotation having 15% increase in Premium. They say that it is due to medical inflation. After increase in Premium, total renewal amount was almost equivalent to a retail family floater policy. I did not renew and opted for a retail policy.Next month, my policy is due for Renewal. 14% policy premium increased compared to last year.
18% is GST applicable on this Health shield 360 policy.
Customer care told me that this policy was sold by ICICI bank employees and it is Group policy, so as per rules 18% GST is applicable.