- Age
Age is the primary variable affecting health insurance costs. Our 20s and 30s are considered to be the prime years for health. You have the opportunity now to put in a lot of effort and improve your life going forward. The key factor making this time of a person’s life the best is that they experience the fewest health problems. It is also the moment when an illness can be treated more quickly. Younger people pay less for health insurance policies than older people since they are less likely to file claims during this time. As these are also the years when she would probably plan for a kid, women in this age range may have to pay a little bit more.
- Profession
Your line of work may have a small but significant impact on how much you pay for insurance. The type of your profession cannot be used as a reason to deny you health insurance coverage, but it can be a factor that affects your policy’s coverage, exclusions, or even the total amount insured.
- Smoking status
While purchasing health or, for that matter, life insurance, a person’s smoking history is taken into account. Smoking is really bad for your health. The likelihood of filing a claim for a health condition rises if the policyholder smokes. As a result, a smoker would have to pay a higher premium for medical insurance. Men and women both suffer the effects of smoking. Smoking can dramatically raise the risk of developing lung illnesses, infertility, and other conditions.
- Amount of sum insured
A health insurance policy can be purchased based on the amount insured. The sum insured is the most you can be reimbursed by your insurance provider in the event of a medical emergency. It’s crucial to remember that the premium cost will increase with the amount of insurance you purchase. The long-term benefits of purchasing insurance with a higher insured sum are greater financial security. Purchasing group insurance plans, such as family floater plans, with a bigger sum insured would make sense. A court may order the purchase of an individual health insurance plan’s covered amount. *
- Pre-existing conditions
Before becoming covered by a health insurance provider, a policyholder might need to have a medical checkup. In addition, you must disclose any existing medical conditions. The risk involved in insuring you will then be evaluated by your insurer. Based on this risk, you will be assessed a premium for medical insurance. Some insurance companies can deny your application, while others might impose a waiting time for a condition like diabetes. While some insurers may charge a little higher premium, others offer coverage with no waiting time.
Those who work in dangerous environments frequently have to pay a higher premium compared to those in other professions. Those who work as firefighters, stunt performers, armed forces personnel, etc., might have to pay more.
How can I use the health insurance premium calculator to determine my premium?
These days, a health insurance premium calculator makes it simple to estimate the size of your monthly.
You can use the online Mediclaim Premium Calculator whenever and wherever you like. It comes in handy to compare health insurance plans based on your needs.
Visit the website of your favourite insurer and seek for the health insurance premium calculator to find out your rate. This helps you make a well-informed choice while buying a policy for yourself or your family. Next, you can fill out the necessary information and determine the general premium amount. While using the Mediclaim Premium Calculator, you can change a few variables to change the cost. *
* Standard T&C Apply
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.