What are the factors that affect your health insurance premium?

Not everybody who applies for the same health insurance plan has to pay the same amount of premium. Wondering why? Let's look at the reasons.

Poor family medical history

You will be charged a higher premium if your family members have had high blood pressure, heart attacks or succumbed to cancer in the past. Because the chances of you being at health risk again is more likely than those with a relatively unblemished family medical history.

History of tobacco consumption

Tobacco users are at a higher risk of cancer or other illnesses. Hence, the insured is naturally charged a higher premium. Even though you may have quit using tobacco, you will still be liable to pay a higher premium. This is because the effects of tobacco still exist in the body and takes time to go away.

Pre-existing illness

Firstly, you need to check if you are eligible for a health cover with such a condition. If you are then you will likely be charged a higher premium amount.

High Body Mass Index (BMI)

People with a high BMI are at more risk of suffering from severe health conditions such as heart problems, diabetes, arthritis and so on. A high BMI can also result in pregnancy complications. Therefore, the premium amount charged is likely to be higher for them.

Age factor

It's true that the younger you are, the lower will be your premium. Generally, this is because you may not be so much at a risk of diseases when you are younger.

Depends on your work profile

You will have to pay a higher premium if your work profile is risky. If your work is exposed to radiation, hazardous substances or chemicals or have a job with a high risk of injury then you will be charged a higher premium.