How premiums rise with age and at each renewal

Key rules

• Legal cap: No law limits how much your premium can rise each year.
• Warning of a rise: The insurer must warn you of a premium rise at least two months before renewal.
• Stopping renewal: To stop automatic renewal, notify the insurer in writing at least one month before the period ends.
• Older ages: Increases get steeper from about 45, and many insurers refuse new customers over about 60 to 65.

Plan for steady growth, not a fixed price

Your premium will almost certainly go up every year, and it will go up faster as you get older. Legal protection against this is limited, so build growth into your budget from the start.

Two kinds of increase

Age-band jumps. Insurers price by age band. Common bands are 0-14, 15-24, 25-34, 35-44, 45-54, 55-64 and 65+, though some insurers use single years or 5-year bands. Children under 14 are often cheaper.

• At younger ages, each band usually adds roughly 5-15%.
• From about 45, each band often adds roughly 20-40%.
• At 55-65 and above, the jumps are larger still.
• Over 65, many insurers apply sharp rises or refuse new customers.

Bands vary by insurer, so ask for the band table before you sign.

Renewal updates. Health policies are usually annual and renew automatically. In recent years, yearly increases for individual policies were typically around 3-8%. Some insurers applied 8-10% or more in 2023-2025 because of medical costs. Older policyholders usually get the steepest rises. These come on top of any age-band jump.

What the law does and does not protect

There is no legal cap on yearly increases. The insurer must base its prices on actuarial data and tell you the new tariff. It cannot raise your premium individually because you have become ill. Check the revision clause in your policy wording, because it says how the insurer may change your price.

Your notice rights

The insurer must warn you of a premium rise at least two months before renewal. If you do not accept it, you can stop automatic renewal by notifying the insurer in writing at least one month before the period ends. Do this in writing and keep proof. The timeline below shows the order of these steps.

Why the first price misleads

A cheap first-year price rarely stays cheap. Compare what the policy will cost at your age in five and ten years, not just this year's price.

If you are over 60

Many insurers set a maximum age for new enrolment, commonly around 60 to 65 for full-cover products. Some accept older applicants on restricted products. Expect high age-band prices, waiting periods (carencias) and exclusions for pre-existing conditions. Check each insurer's current conditions before you plan around joining late.

Timeline and deadlines

• Insurer warns you of a premium rise: At least two months before the renewal date

• Insurer gives notice if it does not want to renew your policy: At least two months before the period ends

Warning that cheap first-year prices can climb quickly

Cheap first-year prices can climb quickly

• A low first-year price rarely stays low: Many insurers advertise low first-year or campaign prices for new customers. The premium then rises at renewal. Annual renewal rises have typically been about 3-8%, and some insurers applied 8-10% or more in 2023-2025. Ask what the price will be in year two, and compare policies on the cost over several years, not the first-year offer.

• Age bands add step jumps on top of renewal rises: Premiums rise by age band. Younger bands step up about 5-15% each. From about 45 the steps are about 20-40% per band, and they get bigger from 55 onwards. Over 65 many insurers apply sharp rises or refuse new customers. Find out which band you will be in over the next 5 to 10 years and work out the cost at each step before you choose. If you are close to a band change, expect a bigger jump.

• Older policyholders face the steepest rises: Renewal rises are higher for older insured people, so a policy that is affordable now can become expensive later. Ask the insurer for its premium table by age, and check you could still pay it at 60 or 65.

Frequently asked questions

Is there a legal cap on how much my premium can rise at renewal?

No, there is no legal cap on yearly increases for individual health policies. The insurer must still justify a rise with actuarial data, and it cannot raise your premium individually because you have been ill.

How big are typical yearly renewal increases?

Typical yearly renewal increases for individual policies have been about 3-8%, with higher rises for older policyholders. Some insurers applied 8-10% or more in 2023-2025 because of medical costs. Consumer groups have criticised the steeper rises for older people.

How much do premiums jump when I move into a new age band?

Jumps are about 5-15% per band at younger ages and about 20-40% per band from around 45. Rises are larger again from 55-65 and above.