In our efforts to fulfil the priorities in life, our health often takes a backseat. Life in metro cities, in particular, has become fast-paced. Health risks are increasing mainly due to environmental and lifestyle factors. An unforeseen event like a medical emergency can have a drastic impact on a family. It can wipe out the savings created over the years. Moreover, given the scenario of rising medical costs, buying health insurance becomes essential as it minimises the burden of expensive medical care.
The health insurance premium is the amount you need to pay to the insurer for availing the policy benefits. This cost depends on several factors such as age, medical history, BMI, lifestyle, gender, etc. Moreover, the city you live in is also a crucial factor that impacts the premium cost.
We explain the importance of health insurance for individuals and how the city you live in can impact your premium cost.
Medical Care is Expensive in Metro Cities
Leading a quality life in metro cities is usually expensive as compared to other tier-2 and tier-3 cities in India. The cost of living is high in metro cities like Delhi, Mumbai, Bangalore, etc. If you live in a metropolitan, you would be aware of how costly the house rent and medical bills are. Furthermore, the vehicular traffic, industrial emissions, and on-going construction works have resulted in poor air quality. Air-pollution is a leading factor for respiratory illnesses. Besides, people have begun to lead an unhealthy lifestyle, mainly involving a sedentary routine. It has triggered medical conditions such as diabetes, hypertension, obesity, and heart disease. Ironically, as the health risks are rising, the cost of medical treatment in cities is also increasing steadily. This factor, coupled with low awareness of health insurance, has driven many families into poverty as they bear medical expenses from their pockets.
Therefore, it is of utmost importance to understand the need for a health cover. Health insurance benefits an individual by covering a host of medical expenses in addition to hospital bills. A health insurance policy will offer benefits such as cover for pre-and-post hospitalisation medical expenses, ambulance cover, annual health check-up, no claim bonus, alternative treatment cover, etc. This way, a person can be worry-free about the gradual financial loss which occurs due to long-term medical treatment.
The cost of medical treatment in metro cities is usually on the higher side. When it comes to quality medical care at the best healthcare centre for, there is a myriad of options you can choose. There are leading private hospitals that have state-of-the-art facilities. However, the cost of treatment is expensive. Having a health cover will offer you financial protection against the enormous medical expenses you would incur. The cashless treatment facility is a remarkable feature of health insurance plans. Many hospitals in India have tie-ups with health insurance companies like Care Health Insurance (Formerly Religare Health Insurance) for offering cashless medical treatment to the insured persons. Under this facility, the insured will not have to bear the medical costs from their pocket.
Know the Premium Cost
Using an online health insurance premium calculator, you will get an estimate of the premium you must pay to the insurer. Your insurer adheres to the medical underwriting process and guidelines for deciding the amount.
If you live in a metro city, it is apparent that the cost of living, including healthcare costs, would be quite high. While enjoying the high-end facilities and modern health infrastructure, a person living in a tier-1 city also faces increased chances of health issues owing to the harsh environment and a demanding lifestyle. So, it is evident that a higher sum insured will be ideal for covering the hefty medical expenses.
Considering the above facts that hint at choosing a higher sum insured, the premium for a health policy will be accordingly high for a person living in a metropolitan. Likewise, the costs will be lower if you live in a non-metro city, like Jaipur or Agra. The reason being the cost of living in smaller towns will be lower as compared to big cities.
You can stay away from financial worries if you invest in the best health insurance with benefits like cashless hospitalisation, annual health check-up, etc. When taking into account various factors when opting for a policy, do consider the medical treatment costs in your city. It will give you an idea about the sum insured you must select so that you get good health coverage.
Care Health Insurance (Formerly Religare Health Insurance) is the preferred choice for millions of people. The company has a country-wide presence with over 7800 network hospitals offering the cashless treatment facility. Visit the official website to find a health policy that covers your medical expenses in the best possible way.