There will be no premium raise with new regulation which takes effect on April 23. 2014. Companies will not be performing personalized applications.
The new regulation in private health insurance will start on 23 April. According to the regulation insurance companies will not be increasing in private health insurance with lifelong replacement warranty. Aims of Undersecretariat of Treasury is standardizing in private health insurance.
With this regulation companies will be determining specific particular conditions especially in premium increase.
What is in the new regulation?
- Insurance companies can provide both lifelong replacement warranty and warrantless products.
- If customers choose the lifelong replacement warranty product, companies will determined particular conditions.
- Even though replacement warranty depends on company, it will start after 2 or 3 years.
- Premiums of policyholders who entitled to lifelong replacement warranty will not increase.
- Ensuing diseases will not be outside the scope of coverage.
- Companies will not be performing personalized applications
