5 Reasons That Impact Your Health Insurance Quote

Health Insurance Quote

Here are the top 5 elements that help get low-premium health insurance. Read on to learn more. *

  • Your age will determine this. 

It makes no sense at all. As you get older, you become more prone to ailments, increasing your medical care costs. This risk will need to be covered by the health insurance provider, which is why your premiums are higher. 

This holds true for all health insurance providers. Mediclaim premiums do not stay the same over the course of the policy, in contrast to term insurance. Your medical insurance premium may remain the same between the ages of 18 and 35, but it will increase after you reach the age of 36 to 45. 

  • Whether you smoke or not.

Smoking increases the risk of developing fatal conditions like cancer, heart and pulmonary disorders, as well as asthma. Now, some health insurance firms could reject the policy if smoking exceeds the limit of 10 cigarettes per day, while others impose higher healthcare premiums.

  • Whether you have any existing medical conditions.

The likelihood of being hospitalised and the cost of care increase if you already have a medical condition. And this risk will need to be covered by the medical insurance provider. 

The way that various health insurance companies handle pre-existing conditions has changed. Some require a co-payment or waiting period, while others raise the cost of health insurance. It might also be both. 

Declare any pre-existing conditions you may have while acquiring the insurance.

  1. Whether the policy is individual or floater

A floater policy offers family-wide health insurance protection. Additionally, the likelihood of being admitted to the hospital rises because it covers more than one individual. These costs will be covered by health insurance companies. As a result, the premium is likewise higher. 

For instance, the premium for a Rs 10 lakh floater policy will be higher than the premium for a Rs 10 lakh individual policy. 

  • The city in which you reside

Varying cities have varying medical costs. Hospitalisation costs, for instance, will always be higher in larger cities like Delhi or Mumbai than in smaller ones. As a result, the premium for the Mediclaim policy will also increase.

It is crucial to provide your city of residence—which may not be your permanent address—when purchasing health insurance coverage, whether in person or online. 

A health insurance premium calculator is a tool you may use online to determine the amount of coverage required based on your needs.

The insurance firms also take into account additional elements when determining the policy premium, such as the riders you choose, the facilities covered by the policy, etc.

It’s crucial that you accurately provide all pertinent information when purchasing a health insurance policy to get a health insurance low premium. The cost of the premium may go up if you disclose information like pre-existing conditions or if you smoke, but it will prevent your claim from being denied in the future.

## All savings are provided by the insurer as 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.


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