4 min read
Updated on Dec 26, 2022
In India, the current health care system is experiencing drastic developments as it has changed completely from what it was until a few decades back. There is a constant increase in awareness for quality healthcare. There are numerous other growth factors responsible for the booming of the Indian health insurance industry. One of the most prominent factors is ‘awareness’ that has instigated the people to cover themselves i.e. individual health insurance under an adequate health insurance policy that gives them comprehensive coverage. Moreover, the stressful and unhealthy lifestyle that most people tend to follow these days has led to a significant increase in the incidence of lifestyle related ailments that include diabetes and hypertension. Smoking and health insurance doesn’t exactly go hand-in-hand. But understanding how one relates to the other will help you identify how tobacco use affects your finances.
As rightly said “Smoking is injurious to health”, a statutory warning printed on all cigarette packs. It’s a proven fact that smoking has been on the top habits for most of the people in our stressful and unhealthy lifestyle
For few people, smoking results only into lung cancer but they must be aware that it also results into many health disorders like it increases risk of heart disease, stroke, cancer, hypertension , other lung disease and other critical illnesses.
Under life or health insurance, premiums are based on the following factors: Age of insured, Type of plan, the number of individuals in the policy, and tobacco use. When it comes to life or health insurance rates for smokers, it will always be on the higher side than comparatively to a Non- Smoker. The only reason for high premium is the risk of covering is high.
Smoking is one of the factors which impact the lifestyle. Its one of the important factor on which the policy is issued. There is a possibility of rejection if a person is a chain smoker or addicted as he is considered as unhealthy. To inform about smoking is one of the most important things as per the Principal of Utmost good faith. Insurers do ask for smoking habits. During issuance, Basis the medical test the policy is either issued or rejected. Rejection is done in case where the risk factor to the inured is too high, also if person is having some PED(Pre existing disease due to smoke) etc The insurability of smokers is determined by the seriousness of pre-existing lifestyle diseases like diabetes and hypertension. Insurers may refuse policies to smokers suffering from Type 2 Diabetes.
Premium is decided on the state of health. When it comes to life or health insurance premium rates for smokers, it will always be on the higher side than compared to a Non- Smoker. The only reason for high premium is because they have a higher risk of contracting multiple illnesses like lung cancer, bronchitis, etc. and also the rising cost of medicals. This makes it highly probable that smokers will face more medical complications that will in turn demand the insurer to pay the claim. Also if the person opts for family health plan then the premium is more high than individual plan.
It is always advisable for a smoker to get the medical tests done by the insurance company at the time of buying the policy itself to reduce area for dispute at the time of claim. A claim is rejected if you have been dishonest and this includes not updating the lifestyle changes, non-disclosure of a related ailment caused by smoking at the time of buying the policy.
If a proposer is over 30-35 years or seeks a high sum assured. Many health insurance companies insist for medical tests. If the medical test reveals a particular health complication, that specific ailment is excluded in the initial years of the plan. Chain smokers and addicts may face an outright rejection
It is difficult to quit smoking but you have more immediate things to look forward like family, future goals etc. This means smokers have prevention and treatment options available to get them through their insurance and avoid big holes in their pocket to pay premium.
Also read: Impact of Smoking on the Human Body and Your Health Insurance policy
Found this post informational? Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance and Investment section. You can visit PayBima to Buy Insurance Online.
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
The threat of yet another virus hits India. This time it is H3N2 Influenza Virus, which is a sub-type of influenza A virus that is.
There has been a huge price rise or inflation seen across sectors, especially the healthcare sector in India in recent times. Let us take a.
Ayushman Bharat Yojana is a health insurance policy offered by the government of India with the aim to present free access to health insurance for.
‘Health is wealth’ is not just a saying, it’s a fact, which people realize when they fall sick. Yes, good health is the most important.
LASIK eye surgery is a surgical process that rectifies any issues related to vision. The cost of the surgery varies depending on the city, the.
Some situations in our life are beyond our control, and one of them is falling sick. No matter how hard we try, we may end.
We all know the importance of health insurance for taking care of hospital bills and medical needs. Let us take a look at some of.
The key function performed by the kidney is to filter blood which flows through each of our body organs. Hence the safety of the body.
Some major changes were announced recently in the Mahatma Jyotirao Phule Jan Arogya Yojana, the Maharashtra health scheme launched in 2012. Let’s take a look.
The World Health Organization (WHO) started the World Tuberculosis Day on March24 to educate people about Tuberculosis (TB), which is a transmittable disease which has.
Speak to our advisor
Corporate Office : Mahindra Insurance Brokers Ltd ( A Mahindra Group Company ) Sadhana House, Ground Floor, 570 P. B. Marg, Behind Mahindra Towers, Worli, Mumbai 400018.
Licenced by IRDAI License No. 261; License Validity : 17-05-2025; Category : Composite Broker; CIN : U65990MH1987PLCO42609 Member of Insurance Brokers Association of India (IBAI).
Insurance is the subject matter of solicitation.
For a seamless experience, use the latest version of Chrome/Firefox/Internet Explorer.
Copyright © 2023 Mahindra Insurance Brokers. All Right Reserved.