Understandably, health insurance rates would vary from one coverage plan to another.
But what many are not always aware of is that premiums are heavily influenced by a consumer's demographic profile, including health, age, and occupation.
Personal health and lifestyle of a consumer is gathered by an insurance company to determine the premium cost.
A representative of the insurance company conducts blood and urine testing and provides health questionnaires to have a full grasp of the consumer's present health condition.
Even more, consumers with history of chronic illnesses or those of high risk because of hereditary disease undergo further diagnosis.
Smoking, abusive drinking and driving habits are also major determinants of premium cost.
Hence, the conclusion that can be drawn from here is that better health is synonymous with lower insurance premium.
Age does contribute to consumer's insurance premium.
When health condition is compared between a 12-year-old boy and a woman who is 55 years of age, obviously, deterioration in health will be more pronounced on the latter.
Insurance payment normally takes a lifetime, thus earlier enrolment can prove less-costly than acquiring one in the mid-thirty or later.
Also, life expectancy speaks something significant on consumer's insurance premium.
Since women live longer than men, the first are being offered lower premium than the latter.
Extreme occupations like mountain climbing, mining, and scuba diving may contribute as well in calculating premium cost.
According to the determinants stated above, there's no denying in the saying health is indeed a source of wealth.
But what many are not always aware of is that premiums are heavily influenced by a consumer's demographic profile, including health, age, and occupation.
Personal health and lifestyle of a consumer is gathered by an insurance company to determine the premium cost.
A representative of the insurance company conducts blood and urine testing and provides health questionnaires to have a full grasp of the consumer's present health condition.
Even more, consumers with history of chronic illnesses or those of high risk because of hereditary disease undergo further diagnosis.
Smoking, abusive drinking and driving habits are also major determinants of premium cost.
Hence, the conclusion that can be drawn from here is that better health is synonymous with lower insurance premium.
Age does contribute to consumer's insurance premium.
When health condition is compared between a 12-year-old boy and a woman who is 55 years of age, obviously, deterioration in health will be more pronounced on the latter.
Insurance payment normally takes a lifetime, thus earlier enrolment can prove less-costly than acquiring one in the mid-thirty or later.
Also, life expectancy speaks something significant on consumer's insurance premium.
Since women live longer than men, the first are being offered lower premium than the latter.
Extreme occupations like mountain climbing, mining, and scuba diving may contribute as well in calculating premium cost.
According to the determinants stated above, there's no denying in the saying health is indeed a source of wealth.