One of the most common concerns policyholders have is the rising costs of premiums over time. As we age, premiums generally increase, and sometimes even significantly, which makes it harder for people to afford long-term health coverage. That’s where the concept of Premium Freeze comes in. Let's take a look at what it means, how it works, and whether it's the right choice for you or your loved ones.
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Premium freeze is usually offered to senior citizens or individuals applying for long-term health insurance plans.
You have to pay a slightly higher premium upfront in exchange for keeping it fixed in the future.
Once the freeze is activated, your premiums won’t increase with age-related health risks or be affected by inflation, within the agreed policy period.
This freeze could be for a fixed number of years, like 10 years, or for the lifetime of the policy.
Let’s say Mr. Deepak, a 62-year-old retiree, is planning to buy a health insurance policy. He finds a senior citizen health plan that offers a premium freeze feature. The insurance provider tells him that he can pay ₹35,000 per year, and this amount will stay the same for the next 10 years, regardless of his age or health condition.
Mr. Sharma agrees, even though other similar plans without a freeze cost only ₹28,000 to start with. Why? Because those plans will increase to ₹40,000–₹50,000 per year as he gets older.
By choosing the premium freeze feature, he locks in his payment at ₹35,000 per year. And over 10 years, he ends up saving money and avoids any sudden price hikes, making it easier to budget his expenses during retirement.
Health insurance premiums tend to increase sharply with age, especially after 55 or 60. This becomes a burden for retirees or fixed-income households. A premium freeze can be a great way to lock your health insurance cost, especially if you’re older or on a fixed income. It offers stability, and peace of mind, and protects you and your loved ones from the burden of rising healthcare costs.
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Reviewed by Dr. Harshita Dahiya 
Acko Technology & Services Private Limited
#36/5, Hustlehub One East, Somasandrapalya, 27th Main Rd, Sector 2, HSR Layout, Bengaluru, Karnataka 560102
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