Optional Add-Ons in Health Insurance
With the rise in life-threatening diseases that can put a significant dent in your finances, opting for add-ons over and above your base health insurance plans can come handy in managing health related emergencies. Some life-threatening diseases such as critical illnesses that include cardiovascular diseases, stroke, cancer, and kidney failure require a separate cover so that you can avail the best form of treatment for such ailments without stressing about the cost of getting treated.
A Critical Illness and Disability Rider(A Non-linked Non-participating Individual Pure Risk Premium Health Insurance Ride| UIN:104B033V01)is an important add-on in health insurance that offers a critical illness insurance for increased financial security and well-being as well as creating a pool of wealth for your future. Some extended benefits on this rider include:
- Covers 64 kinds of critical illnesses
- Offers permanent and temporary disability cover
- Provides comprehensive coverage for all kinds of health emergencies above your base health insurance plans
- Premiums paid for this rider are flexible
- Avail an extended coverage period up to 85 years for two variants of this rider
A wellness benefit that ensures a discounted renewal premium basis the number of steps you walk or run
Factors Affecting Your Health Insurance Premium
The fast-paced lifestyle that we live today, with so many stressors around us, some unhealthy habits that we adopt might become a roadblock in availing a good health insurance policy. The cost of health insurance plans and the premium amount paid varies significantly for insurers and the insured based on a number of factors:
1. Smoking Status
Your smoking status forms a huge factor for setting your premium amount as regular smokers are more prone to health diseases and conditions like lung cancer, heart diseases, respiratory disease and more. This vulnerability to a range of ailments affects your health insurance premium amount and you are required to pay a higher price.
Individuals with regular and extreme drinking habits may have to pay higher premiums to get financial security. This is because excessive drinking has been linked to cases of renal and liver disease, high blood pressure, and other serious health issues.
3. Gender Impact
Gender is another factor that can impact premium rates for insurance policies. Typically, women have a longer lifespan than men which makes the premium rates comparatively lower for them.
As an individual reaches a certain age, they become susceptible to age-related diseases and medical supervision that adds up to the cost of your health insurance plan.
5. Family Medical History
Some people have a medical history of certain diseases that are passed on to new generations. Such predisposition that puts some people at a greater risk for diseases is also a factor that affects your health insurance premiums.
Individuals exposed to a stressful or dangerous working environment have higher chances of developing a disease or illness. In case your occupation makes you susceptible to accidents, it can affect your premium rates.
7. Pre-Existing Diseases
Before purchasing a health insurance policy, if you are diagnosed with an ailment, your premium amounts will be higher and requires a set waiting period to avail claims against treatment of such diseases.