Health Insurance

20 to 30 years

This is the ideal age to buy it because you are most likely healthy and thus your premiums are lower. Most plans also don’t require you to take a medical test.

30 to 40 years

You may have a family now and any medical costs can impact your finances significantly. It’s a good idea to invest in a plan that covers you as well as your family.

40 to 60 years

Consider a policy with a higher sum insured as you may start to develop certain health conditions now. Also, look for a plan with a refill benefit that will ensure you have enough coverage.

60 years and above

Consider a senior citizen health insurance policy with a critical illness rider. These policies typically have higher premiums, but they also offer more comprehensive coverage.

Dental surgery/treatment (unless requiring hospitalisation)

Only dental surgery or treatment that requires hospitalisation is covered under health insurance

Congenital diseases

These are health problems that are present at birth

Venereal disease

These sexually transmitted diseases which are not covered

General debility

This is a general weakness or ill health and is not covered under health insurance.

Self-inflicted injuries

Any injury that is intentionally caused by the insured person is not covered under health insurance

Infertility treatment

The cost of infertility treatment, such as in vitro fertilisation, is not covered under health insurance.

Cosmetic surgeries

The cost of cosmetic surgeries, such as rhinoplasty and liposuction etc.

Pre-existing illnesses

Health insurance plans typically have a waiting period of 12 to 48 months before they cover illnesses that were already present at the time of purchasing the policy.

Age

The older you are, the higher the premiums are typically. It’s because, with age, your chances of falling sick also increase.

Medical history

If you have any pre-existing health conditions, you may need to pay a higher premium or may not be eligible for coverage at all.

Lifestyle

Your lifestyle choices, such as smoking, drinking, and being overweight can increase your risk of health problems, which can also affect your premiums.

Location

The cost of healthcare varies from place to place, and the premiums in expensive areas are typically higher.

Policy type

The type of policy you choose can also affect your premium. More comprehensive plans typically have higher premiums than basic plans.

Your deductible

It is the amount of money you have to pay out of pocket before your insurance company starts to pay. Higher deductibles typically lead to lower premiums.

Gender

In some cases, your gender may affect your premiums. For example, women may pay higher premiums for plans with maternity coverage.

Sum Insured

The sum insured is the maximum amount your insurance policy will pay for your medical expenses. A higher sum insured will typically result in higher premiums.

Smoking and drinking alcohol

Smoking and drinking alcohol can increase your risk of health problems and lead to higher premiums.

Family medical history

Having a family history of certain health conditions can increase your risk of developing those conditions yourself, which may lead to higher premiums.

Health & Wellness Plans

This is the most common type of plan that provides coverage for a wide range of preventive and wellness services.

Cancer Secure Plans

It provides financial assistance if diagnosed with cancer. They typically cover the cost of treatment and even the loss of income in some cases.

Critical Illness Plans

These are more specialised plans that provide coverage against more than 60 listed critical illnesses.

Personal Accident Plan

This plan provides coverage for accidental death, accidental permanent disability, and accidental hospitalisation.

Corporate Plans

These plans are designed for businesses that want to offer group health coverage to their employees.

International Cover

This plan provides coverage for medical expenses incurred while travelling abroad. It also covers the cost of emergency evacuation and repatriation.