You need health cover regardless of what you take two at a time - pills or stairs.
  • Effects of Weight on Health Insurance Premium

    The increased cost of medical care and growth in the number of diseases and health issues have made it important for people to have a health insurance policy. Health Insurance policies help people deal with their huge medical bills and in getting the best possible treatment. But, research has shown that people who are overweight end up paying higher premiums for their health insurance policies compared to others who are not obese or overweight.

    Weigh More? Pay More:

    One reason why overweight or people suffering from obesity pay high premium as part of their health insurance policy is that obesity is known to be the cause of many other diseases such as diabetes, hypertension, etc. Obesity can be caused because of various reasons. One of the most common reason today is the consumption of junk food. Insurers also consider the lifetime of obese people to be short, a factor that they keep in mind while calculating the premium amount.

    Anyone who does not fall within the insurance provider’s weight range might end up paying more for their policy. Men generally end up paying more than women do if they fall out of the BMI range of the insurer. People who are overweight, but not obese also have to pay an increased rate of premium.

    Motivation to Lose Weight:

    Higher premium amount of health insurance policies can motivate you to lose weight. If you have to pay high amount of premium because you exceed the BMI range of your insurer, you will surely have a very good reason to exercise and bring down your weight. Sure, for a little while you will be paying a huge amount of premium, but once you lose weight, that amount can also be brought down.

    To save money on premium, you can choose to purchase your insurance from online portals. BankBazaar is one of the popular platforms in India to look out before purchasing insurance policies. Health Insurance companies use their own methods for measuring the risks associated with higher weight and for deciding the insurance premium, which is why the premium amount is not the same for all the Companies. It is advisable that people compare the quotes and the policies before they apply for one.

    GST rate of 18% applicable for all financial services effective July 1, 2017.

    Disclaimer: Premiums may vary depending upon factors like age, location and prevailing taxes/GST.

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