I am considering taking out a Health Insurance policy and wanted to know whether the premiums would rise over time?
- Tom Conner
Health insurance is set up as an annually reviewable contract. It is designed to stay apace with all the latest medical developments thus with increasing costs of treatment it is normal for the premiums to rise.
This is also coupled with the fact that year on year we are getting older which unfortunately means are likelihood of needing treatment rises which can also affect your premiums.
This is why it is so important to review your policy year on year to ensure the plan you currently hold and the premiums you pay are competitive in the marketplace.