Do Lifestyle Habits Impact Health Insurance Premiums

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There are numerous benefits of health insurance policies. However, insurance premiums discourage many Indians from obtaining health insurance that could protect themselves from the financial effects of hospitalisation. The costs of premiums differ for different people. It is critical to comprehend why this is so and what influences the change.

Reasons for price variation in premiums:

  1. An unhealthy lifestyle is one of the main contributors to a number of diseases like hypertension, high blood pressure, diabetes, and even heart-related conditions. While unhealthy behaviours like smoking, drinking, or chewing tobacco can culminate in serious illnesses like cancer, the more immediate effects include an increased risk of infections that lead to more frequent hospitalisation. As a result, those who practise these harmful habits run a higher chance of getting sick, and this is taken into account when determining how much a health insurance plan may cost. It is therefore recommended to stop behaviours that can inevitably raise medical risks and obtain suitable insurance as soon as possible.
  2. Pre-existing diseases like diabetes, thyroid disease, asthma, high blood pressure, and even depression can increase the cost of health insurance premiums. People can opt for additional riders for a minimum waiting period before a claim is accepted. In order to secure the best possible coverage in the event of hospitalisation, it is crucial to disclose all such pre-existing conditions when acquiring a health insurance policy. *

* Standard T&C Apply

  1. A high body mass index (BMI) is one of the main risk factors for chronic illnesses affecting important organs and can also cause additional problems, including joint damage that necessitates hospitalisation. As a result of the increased risk of major illnesses that require lengthy hospital stays, people with a high BMI must pay insurance premiums that are substantially greater than those of people with a normal BMI. Even people who appear to be in good health should get frequent examinations and take preventive measures to manage their weight before it rapidly increases.
  2. The medical history of close relatives or inherited illnesses may also raise the cost of health insurance. Diseases like diabetes, cancer, and even heart conditions are frequently inherited. Although not restricted to the illnesses listed above, it is best to report all illnesses known to exist in one’s close family when buying health insurance so that you can protect yourself.
  3. The insured’s profession may also affect the applicable insurance price, particularly for individuals who work in hazardous or risky areas. This applies to people working in occupations like pilots who are more likely to sustain physical harm or develop difficulties over time, such as those in the coal extraction, mining, shipping, and aviation industries. Therefore, in order to evaluate the risk of indemnification in the event of a health difficulty, insurers require that the policyholders disclose their exact profession and the industry in which they operate. ‚Äč

Other factors to consider:

  1. Opt for health insurance for individuals or for your family, based on your needs.
  2. A good way to take all factors into consideration is to use a health insurance premium calculator online. Calculating the premium can help you determine a plan that suits your needs.
  3. There are various health insurance benefits. Do your research before you finalise on one.

Conclusion:

Your lifestyle plays a great role in your physical and mental health. This is why it influences the premium on your health insurance. A better lifestyle means a healthy person and reduced risk for the insurance company. Hence the premium is lower.

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.