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  • Top 10 Factors Affecting Health Insurance Premium

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    In India, today health insurance is beginning to gain a lot of importance. In urban India with the lifestyle choices made by individuals, life is becoming highly unpredictable. That’s why health insurance becomes an important aspect of our lives today, health insurance or mediclaim is opted for by most individuals with various insurance companies to pay for hospitalization or medical expenses. The amount of premium that needs to be paid towards this type of insurance is decided upon by calculations made by the health insurance companies.

    The factors that affect your premium towards health insurance are:

    1. Pre-existing medical conditions: The policyholder or applicant will need to provide your own health records to ensure there aren’t any pre-existing medical conditions. But if, you do have any pre -existing conditions, then the company can choose to allow it in their policies or can even decide not to cover it, and if the insurance company cannot cover it under the health insurance then the policyholder will need to bear the costs. Thereby increasing and affecting the premium.
    2. Family medical history: If the policyholder’s family have certain medical ailments their premiums may be higher than others. No one can do anything with their genes. If the policyholder’s family has a medical history of illnesses such as heart diseases, cancer or any other, that puts you at a risk and it increases the individual’s rate of premium.
    3. Body Mass Index (BMI): People with high BMI have a significantly higher rate of premium than people with normal BMI. The reason again being this can lead to various ailments such as heart problems, joint problems, diabetes, to name a few. People with higher BMI may even need specialized treatment, for normal procedures like pregnancy. Thereby making even simple process a little tedious and affects the premium rates.
    4. Injurious substances: Most insurance companies increase their rates of premium for their insurance plans and at times even refuse to insure people who have the habit of smoking, chewing tobacco or snuff. Since they are most prone to getting life threatening diseases like cancer. Thereby affecting the rates of premium.
    5. Gender: Many policies have a difference in premium rates for men and women, the 3 reasons for this experts say are - Women are more likely to visit doctors, take prescriptions, and be subject to chronic diseases.
    6. Age: Most young individuals have premiums at much lower rates since they have fewer identified and unidentified diseases than older individuals. Young policyholders are less likely to have health problems and are more likely not to visit a doctor.
    7. Choice of profession: Policyholders working in environments with hazardous substances, radiation, chemicals, and jobs with high risk of injuries like constructions have to end up paying higher premiums as per insurance companies since they’re prone to risk of cardiovascular diseases.
    8. Marital status: It’s still unclear if married people live longer and healthier lives, but the insurance premiums generally lower in rates. The men generally reap better benefits with this status change.
    9. No insurance yet: If you’re not previously insured, the insurance companies generally charge a higher rate of premium. The insurers believe that previously uninsured individuals would make frequent trips to doctors and hospitals to start reaping benefits of the health insurance policy. Therefore they increase the premium rates to cover all expenses.
    10. Location of stay: There are many insurance companies who base their premiums on the location in which the individual stays. Many companies feel that shared climate, lack of healthy food options, cultural aversion to exercise etc. often come from same areas. And therefore the similarities have lead companies to charge higher health insurance premiums.

    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.

    Top 10 Factors Affecting Health Insurance Premium Reviews

  • Page 1 of 50 1 2 3 4 5
    • National Insurance Health Insurance
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      This insurance policy has been taken through the company which i am working, the premium amount has been taken every month and it was a good service which they had been making so far. I had two times availed the claim through them and the method in getting the claim has also been good.
      Was this review helpful? 0
      , gandhidham
      Reviewed on Nov 14, 2018
    • ICICI Lombard Health Insurance
      "Best Policy"
      0.5 5.0/5 "Blown Away!"
      I have taken Health insurance from Icici Lombard insurance for my parents . Am satisfied with the premium amount which is quiet good. I make the payment yearly, but it has the benefits of cashless hospitalization and pre disease coverage . Am satisfied with their service and response.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 10, 2018
    • Cigna TTK Health Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I got health insurance from Cigna TTK insurance through my company , The premium amount is been paid through my company . This policy covers Cashless hospitalization. Pre diseases coverage . Overall am satisfied with policy coverage and policy benefits .
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 10, 2018
    • Religare Health Insurance
      "Good protection for health"
      0.5 4.0/5 "Great!"
      Major factor to avail Religare health is because of the premium amount is low and few more options are good with them. But there is a waiting period for pre existing disease benefits however I got the medical card on time with the coverage value of Rs.5 lakhs.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 10, 2018
    • Reliance General Health Insurance
      "Good for health and family"
      0.5 5.0/5 "Blown Away!"
      RBL bank have suggested Religare health medical policy, then I availed health policy from them. I selected the medical cover of Rs. 5 lakhs with accidental cover of Rs. 5 lakhs. Every year I used to pay Rs. 2500 as premium for my health policy.
      Was this review helpful? 0
      , kanpur
      Reviewed on Nov 05, 2018
    • National Insurance Health Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have a health insurance in National Insurance for me and my family. The policy covers minor disease and critical illness. The customer service is excellent. Am paying yearly 16K as a premium. Last year have applied for claim, the refund was 100% excluding food. The policy coverage is 10L, I have taken in the year of 2005 or 2006. Am getting good benefits on this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 03, 2018
    • HDFC Ergo Health Insurance
      "Best Policy"
      0.5 5.0/5 "Blown Away!"
      I have taken health insurance form Hdfc ergo .Am satisfied with the premium amount which am making the payment yearly . Their customer representative explained the benefits and features of the policy . They have given the list of network hospitals and health card also. This policy covers cashless hospitalization and pre disease coverage . I make the payment through net banking .
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Nov 02, 2018
    • United India Health Insurance
      "Best Policy"
      0.5 5.0/5 "Blown Away!"
      I have taken health insurance from UNITED INSURANCE . Am satisfied with the premium amount which am making the payment . This policy covers cashless hospitalization . They have given the network list of hospital . Overall am satisfied with the policy.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Nov 01, 2018
    • Religare Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I hold a health insurance policy with Religare from last 1 year, i am not aware of the premium amount for this insurance. I have not claimed anything so far from this insurance policy. I have a coverage value of Rs 3 lacs for this insurance.
      Was this review helpful? 0
      , kolkata
      Reviewed on Nov 01, 2018
    • Apollo Munich Health Insurance
      "Very Good services"
      0.5 5.0/5 "Blown Away!"
      I have been renewing the health insurance policy with Apollo Munich for last 5 years. I pay the premium amount of Rs. 11000 and my entire family has been covered in this policy. They are providing the coverage value of Rs. 3 lakhs. When i met an accident, they have given me a claim amount of Rs. 1.45 lakhs. I have availed the cashless treatment for claim. Very Good hospitals are covered in this policy
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 01, 2018
    • Star Health Health Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my Health insurance with Star health & allied insurance for two years, there service was good like service team was explaining all benefits and even about the policy very clearly and there is accidental policy up to 3,00,000 like i can redeem it from this insurance and even my wife is using this company insurance,and the premium they had charge me up to 8,000 for an year, and i pay premium through on line.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 01, 2018
    • HDFC Ergo Health Insurance
      "Good policy"
      0.5 4.5/5 "Excellent!"
      I took health insurance from Hdfc ergo general insurance . I have choose this insurance mainly because of convincing premium with too many benefits . This policy covers Cashless hospitalization. , pre diseases coverage . Overall am satisfied with customer care and service. Am getting income tax benefits
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 01, 2018
    • ICICI Lombard Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a health insurance policy with ICICI LOMBARD from last 3.5 years, i am not aware of the premium amount of this insurance policy. The coverahge value for this insurance policy is 4 lacs. I have no claim experience so far with this insurance policy.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 30, 2018
    • HDFC Ergo Health Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using HDFC ERGO health insurance for a while, i never had any claim experience with the policy. i will have to wait and see how they are responding to their claims request in future, till now service is good no issue, there premium they are charging is nominal.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 30, 2018
    • Apollo Munich Health Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using the Health Insurance policy from the Apollo Munich. I pay a premium of 22000 per year. Full family cover . It offers an annual coverage for 5 lacs for the entire family. Overall I never had any issues with their services so far.
      Was this review helpful? 2
      , new delhi
      Reviewed on Oct 30, 2018
    • HDFC Ergo Health Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have a health insurance policy with the HDFC Ergo. I pay a premium of 6100 Per year, I do not have any claim experience with the policy and it offers full coverage for my entire family. They offer a coverage 2 lacs annually which is pretty good for me. Overall it has been a good experience with the features of the policy. .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 30, 2018
    • ICICI Lombard Health Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my health insurance with ICICI LOMBARD GENERAL INSURANCE ,they are providing good service there customer support team is very good they are co-operating well and there responsiveness is good they have been charging nominal premium per year and i am paying my premium through credit card.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 30, 2018
    • ICICI Lombard Health Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I have taken Health insurance Icici Lombard insurance . Am satisfied with the premium amount which am making . This policy covers Cashless hospitalization and pre disease coverage , This is yearly coverage policy where is i have to make the payment annually . They have given the list of network of hospitals. Their customer representative explained the policy very well.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Oct 26, 2018
    • Cigna TTK Health Insurance
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I am using the health insurance policy with CIGNA TTK HEALTH INSURANCE from last few years. I have no claim also the premium is nominal which is 12k the coverage is for self. Medical coverage is for 2.5laks only for self coverage. It is a good policy to use.
      Was this review helpful? 1
      , vadodara
      Reviewed on Oct 23, 2018
    • Apollo Munich Health Insurance
      "Best policy"
      0.5 4.0/5 "Great!"
      My health is insured with Apollo Munich from last 1 year and it is a best policy to use. There was no claim experience so far with this insurance policy. A premium of Rs 16000 has to be paid for this insurance and the coverage value is Rs 10 lakhs...
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 19, 2018
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