When must a policyholder be notified about a premium increase?

A policyholder must be notified at least 30 days prior to a premium increase to provide adequate time for the policyholder to understand the change and consider their options. This advance notice is an essential consumer protection measure that allows individuals to assess their financial situation, compare other insurance options if necessary, or decide if they want to keep the current policy despite the increased cost. This requirement is in place to promote transparency and ensure that policyholders are not caught off guard by unexpected financial obligations. It empowers them to make informed decisions about their insurance coverage.