NIVA Bupa increases premium of reassure from 48k to 80k. And also offering lower premium reassure 2.0 whose premium is 55k. What to do?

[raysb]

I have NIVA Bupa health reassure. I have been using this plan from last 4 years. I have two queries. 1) Why premium of my health insurance for 2 years is drastically increased every time. This time they increase from 48k to 80k.
2) And they are offering me another plan ie reassure 2.0 which has lower premium of 22k per year.

Please suggest what to choose and why.

 

[bekifaayatifan]

1) It's a private company. They can increase or decrease their premiums as they like. Customer has the option to port to another company. There is no need to be loyal to one particular company. If another brand has equivalent insurance package (most do) with lower premium and allows porting, you can switch companies.

2) "They" means your insurance agent right? Ask them does the new plan has similar benefits to the old one. Benefits that you (the customer) wants. Since, you are not changing the insurance companies, it'll be considered as continuous coverage. But, get it in writing (email). You don't want to reset your moratorium period.