How and how much does the insurance go up every year?
With each insurance contract renewal, at 31 December, the company may modify the annual premium and the costs for medical acts taking as a base the technical actuarial calculations.
The premium for each insured person is calculated according to the following objective risk factors: age and geographical place of residence, in addition to other factors that affect the calculation, such as increases in health care costs and medical technology innovations that are incorporated into the insurance cover.
In the case of collective policies, the result of the group and the number of layers of premiums applied will also be taken into account in the renewal of contracts.
In any case, the rates that DKV Seguros has in place on the renewal date shall apply. Besides the case indicated in the previous paragraph, the premiums due may also vary depending on the age and other personal circumstances of the insured persons.
Age groups may be established for policies of a collective modality. Similarly, the premiums may change due to variations in the structure of the insured group. When the insured person reaches, during the course of the insurance policy, an actuarial age understood to belong to another group, the corresponding premium for the new age group will be applied in the following annual renewal.
The policyholder, having been informed of the variation in the premium for the following year by DKV, will be able to choose between renewing the insurance contract or cancelling it on the maturity date of the current period. In this latter case, the policyholder must notify DKV Seguros in writing of their wish to terminate the contractual relationship at the end of the contract and with one month's notice.
Unlike other companies, in the individual modality, DKV guarantees that your use of the insurance policy will not constitute grounds for cancelling the policy.