Be wary of factors that can raise your health insurance premium

Health Insurances 170 views

Health insurance has started to gain the attention in the aftermath of critical conditions and diseases caused by the poor lifestyle that most of the people are caught up with. You must go through a series of health insurance schemes to pick the one that suit your healthcare requirements at your budget. Like any insurance, health insurance also comes with premium that you have to pay to get the cover for ailments. But have you ever given a food of thought to the factors that impact the health insurance premiums in India. If no, then you can certainly get aware of those factors in this article.

Factors

Pre-existing medical conditions

While choosing the health insurance policy, the insurer will ask you to disclose your health records to check whether you have pre-existing medical conditions or not. The insurer can either choose to provide you the cover or decline to do the same. If they do provide you the cover, then the premium will get increased.

Family's  Medical History

If the family of the policyholder has some medical ailments, then the premiums can rise more than when the family has no ailments. While checking the medical history, if it is found that the family has illnesses like heart disease, cancer or others, then chances are that the premium will rise.

Body Mass Index

Be ready to pay more on your health insurance premium if you have a higher body mass index (BMI) than the ones having a normal BMI. Higher BMI could well lead to conditions like heart diseases, diabetes, joint problems, among others. Since higher BMI requires specialized treatment during the time of ailments, the health insurance premium could go up significantly higher.

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Profession

If someone works in a hazardous environment full of chemicals, radiations, the health insurance premiums for that policyholder can go up as there are growing possibilities of him/her getting injured or affected with cardiovascular diseases.

Habit of consuming injurious items

Health insurance companies generally charge higher premium from people with a habit of constant smoking and chewing tobacco products as the consumption of the same can lead to a condition as severe as cancer.

New to health insurance

If you are new to health insurance, you may have to pay more premium as insurers perceive that uninsured individuals would visit the hospitals and doctors frequently to start getting the benefits of the health insurance policy. So, in order to cover such expenses on medical treatment, the premiums get increased by the health insurance company.