Age and genderAge plays a key role in determining your health insurance premium. The older you get, the higher premium you pay because your chances of falling ill increases as you age.
Older individuals are considered as high-risk customers by insurance companies.“Health insurance premiums are based on the probability of you falling sick.
Most insurers have age-wise bands to decide premiums and others apply a small yearly increment," said Naval Goel, CEO and founder, PolicyX, an online insurance aggregator.A couple of insurers could also take gender into account while deciding premiums.
Goel said in some cases, the premiums could be higher for men compared to women. “Men are more likely to go out for work and, hence, more likely to meet.