Lifestyle factors like physical activity level and alcohol and tobacco use influence your health insurance premium. These factors can affect the cost of your health insurance, and this article explains them and how to mitigate their impact.
Influence Of Lifestyle Factors On Indian Health Insurance Plans
1. BMI And Sedentary Lifestyle
Insurance companies assess your lifestyle, distinguishing between active and sedentary habits. Engaging in physical activities can earn you rewards, such as premium concessions and concessions on medical expenses. Conversely, a sedentary lifestyle might lead to higher premiums on your health insurance application based on factors like BMI. As an example, if your Body Mass Index (BMI) is:
If all other factors remain the same, the insurance company may charge the standard premium as it does for other applicants up to a particular range.
BMI Is Greater than average; the insurance provider may charge a higher premium than other applicants.
2. Poor Habits
Insurance companies charge higher premiums to smokers and drinkers due to the increased health risks associated with these habits. Smoking and alcohol consumption can lead to various diseases, making those with such habits higher insurance risks.
3. Profession
Your line of work may influence your health insurance premium. People employed by businesses like banks, IT firms, retail stores, etc., are classified as standard risks and subject to standard premiums.
People employed in dangerous occupations, such as those found in mines, chemical plants, building sites, and factories producing weapons, ammunition, explosives, etc., are not considered standard risks. These individuals are charged a higher premium because they are viewed as higher risk than the average person.
4. Pre-Existing Diseases
Your health insurance plan premium will be negatively impacted if you have a pre-existing condition or disease. You may have to pay more money than other people when you choose a pre-existing disease health insurance. Additionally, a waiting period maybe 1 to 4 years before you can submit any claims to treat pre-existing conditions. Claims are subject to terms and conditions set forth under the health insurance policy. *
5. Family Medical History
The insurance provider may view your case as riskier than typical cases if there is a family history of diseases like cancer, heart disease, diabetes, etc. In this situation, you can only live a healthy lifestyle to avoid contracting any illnesses in your family.
The insurance company may divide the nation into distinct zones based on various factors, including those mentioned above. The insurance provider may view your situation as riskier than others if you choose to reside in one of these areas and will adjust the cost of your health insurance plan accordingly.
Maintain A Healthy Lifestyle To Keep Your Health Insurance Premiums In Check
To lower your health insurance premium:
- Adopt a healthier lifestyle.
- Consume a balanced diet, engage in regular physical activities, and pursue hobbies that keep you active and social.
- Maintain a work-life balance, practice stress-reduction techniques, and avoid harmful habits.
Leading a healthy lifestyle can improve your well-being and earn you rewards, such as reduced health insurance premiums from some companies and thereby positively impact your health insurance coverage. You can even go ahead and avail of super top-up health insurance plans that offer additional coverage once your primary health insurance plan reaches its limit, providing an extra layer of financial protection.
*Standard T&C Apply
##All savings are provided by the insurer per the IRDAI-approved insurance plan. 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.
