What may influence the cost of health cover?
Private health insurance cost is rising so often considering these, we have put together the following guide to help you understand what drives these premiums to rise and your options if you are considering switching policies or ditching your private health insurance, or just getting to understand these altogether.
Type of Cover level: Whether you choose singles or couples health coverage will influence your premiums. The singles cover is typically the most affordable as there is only one person insured while couples are higher because the cover is for more than one person.
Level and scope of cover: The more comprehensive your policy is, the higher the cost of your annual premiums.
Current health status; Depending on your current health status, the private health insurer will adjust your premium. With an existing medical condition, your cover attracts additional loading of premium. Buying cover early before the complications of old age sets in could potentially reduce your premiums by more than a third.
Age of insured: The risk of needing medical treatment rises as one gets older, which means the price of health insurance will usually also vary depending on your age.
Bima hakika’s Wiz;
Guess what! There is a better way to avoid paying expensive premiums, talk to us to find you an excellent value health insurance policy.
Compare your current policy against new policies to make sure you are getting the most value from your provider at a price you are happy to pay. If not, it might be time to switch!
Before you switch to more affordable cover, make sure you have taken the time to understand the range of member benefits the policy offers. You also want to read the fine print of any conditions or restrictions before signing on the dotted line.
If you have any questions or concerns with your health coverage or premiums, we have friendly agents who are all health insurance experts. You can call one of our team on 0732393100