The Impact Of Lifestyle On Health Insurance Premiums In India

Since childhood, we’ve heard the adage, “All work and no play makes Jack a dull boy.” This sentiment extends beyond just playtime and into our health insurance premiums. If you’ve been working long hours, leading a sedentary lifestyle, smoking, or drinking excessively, your health insurance provider is likely to frown upon these habits. Such lifestyle choices can result in higher premiums or even the rejection of your health insurance application. In this article, we’ll explore how lifestyle factors influence health insurance premiums and what steps you can take to improve your health and keep your premiums in check.

Lifestyle Factors Affecting Health Insurance Premiums

1. Sedentary Lifestyle and BMI

Insurance companies evaluate your lifestyle when processing your health insurance application. An active lifestyle, which includes activities like walking, running, weight training, yoga, sports, or dancing, can be beneficial. Some insurers even reward active individuals with points redeemable for doctor consultations, diagnostic tests, medicines, or discounts on renewal premiums. Conversely, a sedentary lifestyle can lead to higher premiums. Your Body Mass Index (BMI) is a key factor:

• If your BMI falls within a healthy range, you may be charged the standard premium.
• If your BMI is above the normal range, expect higher premiums.
• If your BMI is significantly above the normal range, your application might be rejected. Other factors considered include sleep patterns, diet, and involvement in recreational activities.

2. Bad Habits

Insurance companies typically have different rates for smokers and non-smokers. Smokers should be prepared for higher premiums, as insurers will inquire about daily cigarette consumption. The same applies to alcohol consumption. Habits like smoking, drinking, and chewing tobacco increase the risk of diseases such as cancer, liver disease, and heart ailments, leading to higher premiums.

3. Occupation

Your occupation can impact your health insurance premium. Standard risk jobs, such as those in banking, IT, or retail, typically incur standard premiums. However, hazardous occupations, like mining, chemical industries, construction, or manufacturing explosives, are considered higher risk and attract higher premiums.

4. Hobbies

Engagement in high-risk hobbies like mountain hiking, scuba diving, or car racing can lead to higher premiums. Insurers apply additional loading to applications from individuals involved in these activities.

5. Pre-Existing Diseases

Pre-existing conditions can adversely affect your premiums. Conditions like high blood pressure, diabetes, obesity, or thyroid issues lead to higher premiums and a potential waiting period of 1-4 years before claims related to these conditions can be made.

6. Family Medical History

A family history of illnesses like cancer, heart disease, or diabetes can make your application riskier in the eyes of insurers. While you can’t change your family history, maintaining a healthy lifestyle can mitigate some of these risks.

7. Geographical Location

Where you live can influence your health insurance premium. Areas with high pollution levels, like Delhi NCR, or cities with higher healthcare costs may result in higher premiums. Insurers may categorize regions into zones based on these factors and adjust premiums accordingly.

8. Age

Insurance premiums increase with age. As you move into higher age brackets, premiums rise. While age is beyond your control, adopting a healthy lifestyle can help manage the associated risks.

Maintain a Healthy Lifestyle to Keep Premiums in Check

Understanding how lifestyle factors impact health insurance premiums is crucial. By following a healthy diet, engaging in regular exercise, and avoiding bad habits, you can keep your premiums in check. Activities like dancing, gardening, or sports can keep you active, while stress management techniques such as meditation and maintaining a work-life balance can improve overall well-being. Leading a healthy lifestyle not only enhances your quality of life but can also earn you rewards from some insurance companies. These rewards can be used for various benefits, including discounts on premium renewals. In conclusion, making positive lifestyle changes can significantly impact your health insurance premiums. By prioritizing health and wellness, you can enjoy life more fully while also benefiting financially from lower insurance costs.