Apparent inconsistency in Mediclaim Premium rate

Dear Mr Srivastava,

While going through the table of premium rates for the year 2017-18 as given in your  circular dated 23/9/2017,I noticed that the premium of Rs 5209  under Table B  for ages 71-75 for Sum Insured of Rs 6 lks is incongruous although it is only provisional till the rates  for the  FY 2018-19 are finalised. The inconsistency seems to be evident from the following ratios worked out by me.

TABLE B   RATIOS
SUM INSURED	Ratio of  premium for ages 71-75 to premium for  ages 66-70	Ratio of premium for ages 71-75 to premium for  ages 76 &above	% increase in premium for ages    71-75 over those for  previous lower Sum Insured
300000	1.12	0.72
400000	1.12	0.72	27.46
500000	1.09	0.72	19.42
600000	1.02	0.69	6.55
800000	1.08	0.73	18.08
1000000	1.08	0.73	10.00
1200000	1.08	0.73	8.51
1500000	1.08	0.73	8.01
2000000	1.08	0.73	6.00
2500000	1.08	0.73	5.00
3000000	1.08	0.73	3.00
4000000	1.08	0.73	5.50
5000000	1.08	0.73	3.70

For the sake of consistency, in my view.the premium for this age group under Table B should be around Rs 5500.

I am sure that this inconsistency will be removed when the premium rates are finalised for the financial year 2018-19 in April 2018.

Kind regards.

C H Mahadevan

Executive Director(Retd)(LIC)

Camp: Columbus(OH), USA

To

Mr Sharad Srivastava,

Executive Director(Personnel)

LIC of India,

Mumbai