Stay Healthy to Decrease Health Insurance Costs

We all make different lifestyle choices, which can impact our well-being and our overall health. And health is the most important parameter while buying a health insurance policy, both for the insurer and the insured.

Lifestyle Habits that Affect Our Health in the Long-Run

Positive lifestyle habits can have a huge impact on the cost of your health insurance policy. Here are three things that you must take care of as soon as possible to improve your health and eventually the cost of your insurance policy.

·         Weight – Busy work schedules and high levels of junk food consumption may lead to obesity. Being overweight increases the risk of many health issues, such as diabetes, heart diseases, high blood pressure, infertility, cholesterol, gallstone… the list goes on and so does the wrath of obesity. So tighten your belt and fight obesity to regain health and fitness. Eat right and exercise regularly. Know that just eating right is not enough; timely meals are a must while maintaining weight and health.

·         Smoking – A statutory warning on every cigarette packs gives a clear message– smoking kills. Smokers are at high risk of suffering from emphysema, lung cancer, gum cancer, asthma and other respiratory problems. This makes you a risk for insurance companies. When you looking to buy comprehensive health insurance, you are asked whether you are a smoker or a non-smoker. Even if you are an occasional smoker, admit it. Not providing complete and correct information at the time of purchasing cover will hamper the chances of successful claim settlement. Also, smokers have to pay higher premiums. The best option is of course to quit smoking. You are considered a non-smoker if you haven’t smoked a cigarette for the specified number of years mentioned by the insurance company.

·         Drinking - Heavy drinkers are at greater risk of various types of health problems, including liver problems. You can bring your drinking to moderate levels to stay healthy and fit.

When you are shopping for the best medical insurance policy , several medical tests, such as ECG , blood sugar, x-ray and more, might be recommended to assess your health status and to evaluate the risk to your insurer. On the basis of these tests, the insurance company will decide upon the premium amount that you must pay for different types of cover. Unhealthy lifestyle habits and poor health status would amount to higher risk for your insurer, thereby leading to higher premium values for health insurance plans. So stay fit to reduce healthcare costs in the long run.

Car Insurance Guide

The first thing your car dealer advises you when you buy a new car is to get car insurance. Insurance for your car is just as important as one for your home, besides being mandatory in India to at least have third-party cover. Buying a car could be no less than a milestone in one’s life. For some, it is an asset, while others save money for months just to buy their dream car.

Car Insurance Checklist

Buying the first insurance cover that you chance upon might not be a wise choice. Here is a checklist to guide you when you choose the right cover.

·         Cover – Although premium cost increases with the age of the vehicle, it is wise to opt for comprehensive cover that covers the automobile against loss or damage as well as third party liability.

·         Premium – Buying a plan with the lowest premium might not get your car insured fully. Buy cover that amounts fully to the price of the car. Choose a plan because of the benefits it offers and not because of a low premium. The right mix is adequate cover with maximum benefits.

·         Get Insured When Your Car is New – If you are looking for a policy to cover your new vehicle, don’t wait for months to decide upon the policy. Get the automobile covered when it is still new to avoid inflating your premium because of depreciation costs.

·         Type of Cover – Any automobile cover can generally be categorised into two: third party liability and comprehensive cover. Third party liability pays to the third person in case of injury or damage to their property in the event of an accident with your car. Comprehensive insurance covers third party liability, as well as personal accident, liability and theft. Comprehensive insurance is recommended despite it being more expensive than third party liability.

·         Buy Online – Buying car insurance online will give you the opportunity to research well before you buy a policy. You can also calculate the best insurance cover for your needs online by providing information about your car and your driving habits.

·         Add-on Cover – You can also buy add-on covers to enhance your policy. Add-on cover for replacement or engine protection is a good pick, especially for expensive cars.

Get your car insurance renewed before it expires. You can encounter hundreds of risks when on the road. You can also avail the no claims bonus offered by most insurance companies on renewal.