Health insurance policies play a vital role in the lives of people in today’s world. These policies give you a hassle-free experience when it comes to dealing with the most sensitive issues, such as personal accident cover or any critical illness insurance. From the mutual insurance group, it is experienced and observed that more than 900 offices are set up to provide insurance policies to the people who require them.
The best health insurance policies always make sure to save the income and earnings of their policyholders when any medical uncertainties occur to them. One of the government schemes, called the Ayushman Bharat scheme, also works like health insurance.
What are the Factors that Determine the Health Insurance Premium?
The premium for the best health insurance in India has been raised over time. Here, we would like to tell you the important factors in determining the premium.
Age:
Age is the most crucial factor when determining the health insurance premium. As we tell you above, your best interest in the health insurance plan matters while you are young, as you are less likely to have pre-existing medical ailments as a result, which lowers the premium.
Medical History:
Pre-existing conditions of health and ailments are the one option for opting under your health insurance policy. However, if you have related health insurance, then you may see an increase in the premium. Therefore, it is suggested to not make the error of not determining the ailments that lead to the claim being denied in the future.
Location:
In simple words, if you can go aside in the one-tier city, then your premium would be higher than you pay for the health insurance coverage in tier 2 and tier 3 cities. It is highly determined because the treatment and hospitalization costs are much higher in the Tier 1 city.
Body Mass Index:
When deciding the premium offered by the insurance provider, also consider the factor in the body mass index. Individuals with a high BMI are at risk of developing various ailments such as joint pain, blood pressure, hypertension, cardiac conditions, and type 2 diabetes.
Lifestyle:
If you consume a high amount of alcohol or tobacco on a regular day, you need to pay higher premiums as it appears to be a high risk to the individual. Smoking tobacco or drinking alcohol cause respiration problems, and chewing tobacco cause the worst disease, named cancer. This is an important reason to have the premium at the high demand for the health insurance policy.
Conclusion
In this article, you get information about the factors that work to decide the premium of the health insurance plan. The information given in this article is relevant to you. We assure you that we deliver accurate information every time.
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