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Health Insurance Premiums - Affecting factors

The novel coronavirus has emerged as a multi-dimensional challenge across the sphere. The fast pace increasing number of its cases impacts on human capital attainment and investment. The government has also confirmed that COVID 19 has a global impact and people should be self-reliant. 
 
Being a responsible person in your family what is the first step you should take in the present pandemic situation?
 
Yes, Health insurance should be your priority in the present pandemic situation. Health Insurance is the best investment as health is wealth. 
 
As per your need, you should buy individual health insurance, family health insurance, or long term health insurance policy. 
 
Health Insurance Company ensures access to a medical emergency in top hospitals in your nearby residing place. So, plan to buy the best-fit health insurance policy for you and your family. 
 

Thing you must know the factors on which depends the Health Insurance Premiums:


Getting online medical insurance is a proud moment for you, but you should be aware of the factors that can impact your health insurance premiums as well.  
 
1. Pre-existing medical conditions: Health Insurance Company asks for your pre-existing health records to ensure you don’t have any pre-existing medical history. But if you do have any pre-existing medical history, then the company can decide to offer you a policy or not. If the health insurance company cannot cover your pre-existing health ailment in the offered policy, then you may need to pay some additional amount in your premium to cover pre-existing health ailment in your policy. 

2. Medical history of your family: If your family has a certain medical history then the company may charge a higher premium than others. If your family has a medical history of certain diseases such as cancer, heart problem, etc., that puts your family life at a risk, then you need to bear a high premium. 
 
3. Body Mass Index (BMI): A higher Body Mass Index leads to various diseases like diabetes, joint pains, heart problems, etc. It may be possible the purchaser can need specialized treatment in the future. So, it affects the cost of the premium. 
 
4. Use of Injurious substances: If you are used to consume injurious substances like cigarettes, alcohol, or chewing tobacco, then you are more prone to getting life-threatening diseases. Most of the Health Insurance Companies either reject your insurance application or increase the rate of premium. 
 
5. Gender: The cost of the premium also depends on gender. It is observed that many policies have a difference in premium costs for women and men. Women are more likely to visit doctors and prone to chronic diseases and therefore the premium costs of health insurance plans for women are usually higher than men. 
 
6. Your Age: The health insurance premium for young people is always lower than older people. Young people are less likely to visit a doctor.  
 
7. Profession: People working in risk environments like a construction site, acid factory, shipping industry and life-threatening radiation zones have to end up paying high rate health insurance premiums as they’re highly prone to cardiovascular diseases.
 
8. Location of stay: If you are living in a healthy location, then the company usually charges a minimum premium for your health insurance, but if you are living in a shared climate, lack of pure air and healthy food options, then your premium rate will be increased. 
 
The next thing which can float in your mind is that “Most of the businesses are working either with limited resources or work from home culture”, then
 
  • How will you get the details of the key benefits of healthcare Insurance?
  • How will you calculate and compare the premium cost of healthcare Insurance?  
 
Purchasing the right health insurance policy at the right time has become the need of time. If you want to know the details of the policy, then you can get accurate information online. You are living in the digital world. If you can buy the household things at the comfort of your home, then you can also get the appropriate knowledge and even buy health insurance policy online without any hassle. Here are some listed benefits that you can get if you will purchase the policy in online mode:
 
  • No hassle of complicated paperwork
  • Comparing policies online is easier
  • Easy premium payment option
  • Health check-up is not required
  • Accessibility of Health Insurance Premium Calculator
 
Know more about what is Covered under Coronavirus Health Insurance Plan
 
The key benefits of Healthcare Insurance are as follows:
  • It offers financial protection during an unplanned medical emergency.
  • It offers health insurance plans for all like senior citizen healthcare insurance plans, maternity cover plans, personal accidental cover plans, etc. 
  • Coverage for a wide range of medical expenses such as pre and post hospitalization expenses, OPD expenses, lab tests, doctor’s fees, medication charges, etc.
  • It offers a great option to cover critical illness as well.
  • Lifelong health insurance renewability along with and coverage of day-care treatments, health check-ups, etc.
  • It helps in getting world-class medical services in the best hospitals.
  • Tax benefits under Section 80D of the Income Tax Act.
 
Health Insurance Plans offer a wide range of health coverage policies such as Individual Health Insurance plans, Family Health Insurance plan, etc. to minimize the financial burden at the time of an unseen medical emergency. It is a great practice for you to read the list of medical coverage, exclusions, and waiting periods for specific diseases before buying a policy. 
 
Calculate the premium cost of healthcare Insurance Plan Online
You can also calculate the premium amount online by hitting on the under given link into your internet browser:  Calculate Health Insurance premium online
 
Calculating the premium amount online helps you compare various plans based upon your requirements. 
 
Conclusion:
 
Buying a health insurance plan is the best decision to get peace of mind in the present pandemic situation and undoubtedly it is the best practice to secure your hard-earned money. HDFC ERGO Health Insurance plan provides you a wide range of health insurance plans. A partner to be with you it offers great health insurance covers at affordable premium costs. So invest your money in the right place and enjoy your life.

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