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Sushma Baviskar
Posts: 27
Registered: ‎23-08-2017

What are the factors that affect Health Insurance premium?

What are the factors that affect Health Insurance premium?

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Occasional Contributor
Tanuja Choudhary
Posts: 16
Registered: ‎28-08-2017
Solution

Re: What are the factors that affect Health Insurance premium?

Age is a major factor that determines the premium, the older you are the premium cost will be higher because you are more prone to illnesses. Previous medical history is another major factor that determines the premium. If no prior medical history exists, premium will automatically be lower.  Claim free years can also be a factor in determining the cost of the premium as it might benefit you with certain percentage of discount. This will automatically help you reduce your premium.

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Occasional Contributor
Tanuja Choudhary
Posts: 16
Registered: ‎28-08-2017
Solution

Re: What are the factors that affect Health Insurance premium?

Age is a major factor that determines the premium, the older you are the premium cost will be higher because you are more prone to illnesses. Previous medical history is another major factor that determines the premium. If no prior medical history exists, premium will automatically be lower.  Claim free years can also be a factor in determining the cost of the premium as it might benefit you with certain percentage of discount. This will automatically help you reduce your premium.