Dear Sri Sahni,
Referring to your calculations of estimated increased premiums for the Sums Insured of Rs 25 & 30 lks,I had independently worked out the likely premiums using the logarithmic trend for age slabs 56-65 to
76+ under both table A and Table B as this will cover the retired members & their spouses by & large.
While both our estimates are near each other,your estimates are a little on the higher side compared to my estimates.
I attach an excel document comparing both our estimates with a sample trend chart for age 56-65.
The trend line based on logarithmic trend as per my calculations shows a relatively better fit with r2(r-squared) =0.997 compared to yours =0.992.
But your estimates can be assumed on the safer side as they may be taken as an upper limit of likely increase and pensioners can decide on exercising the option accordingly.
Kind regards.
C H Mahadevan
Mediclaim Increased Premium Estimates 2016=17Click Here
Referring to your calculations of estimated increased premiums for the Sums Insured of Rs 25 & 30 lks,I had independently worked out the likely premiums using the logarithmic trend for age slabs 56-65 to
76+ under both table A and Table B as this will cover the retired members & their spouses by & large.
While both our estimates are near each other,your estimates are a little on the higher side compared to my estimates.
I attach an excel document comparing both our estimates with a sample trend chart for age 56-65.
The trend line based on logarithmic trend as per my calculations shows a relatively better fit with r2(r-squared) =0.997 compared to yours =0.992.
But your estimates can be assumed on the safer side as they may be taken as an upper limit of likely increase and pensioners can decide on exercising the option accordingly.
Kind regards.
C H Mahadevan
Mediclaim Increased Premium Estimates 2016=17Click Here
