How Health Insurance Premium varies by Gender
Did you know that your health insurance premium may vary by gender? Usually, women are at the receiving end of this discriminatory pricing. Here’s all you need to know. With the increase in medical inflation and sedentary lifestyle-induced diseases, it has become imperative to get a health insurance policy to protect yourself against the gigantic financial burden that diagnosis and treatment can incur. There are a number of factors that determine what amount of premium you’d need to pay, depending upon how susceptible you are to falling sick, to accidents or to being diagnosed with a critical illness. Premiums are determined individually for everyone because the insurance company would review your risk profile and medical history against company benchmarks, and assess if a policy would just be dead weight for them. These factors include many health-related parameters like Body Mass Index (BMI), tobacco and alcohol consumption, age, pre-existing medical conditions, family medical history. The rationale is to find out if you are more susceptible to falling ill or getting diagnosed. For instance, people with a high BMI can suffer from, or develop, diseases including diabetes, sleep apnea, and heart and joint problems. So if you have a high BMI, you […]
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