10 Factors Affecting the Premium of Critical Illness Insurance

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May 7, 2025
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Critical health insurance plans that act as your security shield at the time of a medical crisis are no longer a mere need; it is a necessity. As the hazard and recurrence of critical illnesses are on the rise, a critical illness cover is a great investment in guaranteeing quality healthcare and peace of mind. An individual’s physical, mental, and monetary health can be antagonistically affected if analysed with a critical illness like cancer. That’s why a critical illness insurance policy pays a part of the sum to offer assistance to the policyholder, guaranteeing the individual has access to adequate reserves to fight the sickness and recuperate quicker with the assistance of high-quality treatment. Before purchasing the policy, you ought to know the benefits of having a basic health insurance policy and how the premium is decided. Let’s learn more about it.

Understanding Critical Illness Insurance

Critical illness insurance is a sort of health insurance plan that covers basic or life-threatening maladies like stroke, cancer, kidney failure, loss of motion, multiple sclerosis, heart attack, etc. You can file a claim if you are diagnosed with any of the covered basic illnesses mentioned on your critical illness medical insurance. The health insurance providers will pay a premium to reimburse up to the full safety net provider, no matter what the treatment costs are.

For instance, you have opted for basic health insurance plans with a whole safety net provider of INR 15 lakhs, and your treatment costs sum to INR 11 lakhs. Protections will pay you the whole sum and will not inquire for any bills or reports; the as it were report required is verification of the diagnosis.

However, you can profit off the stipend as it were if you survive a certain period after the date of conclusion. This period is called the survival period and can extend between 14 and 30 days based on the arrangement and guarantors.

Is there a Waiting Period for Critical Illness Insurance?

Like standard health insurance plans, critical illness insurance also has a waiting period, but it's much lower. The waiting period is generally 90 days from the date of policy purchase. 

Related Blog: What is 'Waiting Period' in Health Insurance?

Factors Affecting the Premium of a Critical Illness Insurance Plan

A few components influence the premium of critical health insurance policies, such as -

1. Age

A person’s age is a critical calculation influencing the premium of basic health insurance policies. If you purchase this approach at a youthful age, the premium will be lower since the chance of catching a critical illness is less. As you age, the hazard increases, and so does the premium.

2. Family History

If you have a family history of illnesses like heart disease or cancer, you are at an increased risk of catching such illnesses. It may be troublesome for you to get a basic health insurance plan, and if any safety net providers offer coverage, the premiums charged will be high.

3. Pre-existing Conditions

Individuals with pre-existing conditions will have to pay a higher premium than those who don’t have any medical health issues.

4. Sum Insured

The higher the comprehensive health insurance, the higher the premium.

Related Blog: What Is Sum Insured in Health Insurance?

5. Body Mass Index (BMI)

A person with a higher BMI is more vulnerable to afflictions, including the heart and muscles. This implies customary medical considerations, such as specialist visits and medicines, and the likelihood of recording claims is high. So, considering all the health dangers, the health insurance premium will be high for an individual with a high BMI.

6. Lifestyle

Destitute way of life propensities, such as eating less, missing fundamental supplements, needing to work out, smoking, and utilising liquor, increase the chance of health issues; thus, the premium charged for a basic health insurance policy will be high. Moreover, if you are an adventure enthusiast and routinely lock in activities like bungee jumping, skiing, scuba diving, etc., the premium will be higher.

7. Work Environment

The working environment influences the premium of a basic health insurance policy. If you work in a high-risk, unpleasant, or perilous environment, the premium even of a basic health insurance policy will be higher.

8. Number of Illnesses Covered

Health insurance policies which cover more basic or life-threatening ailments have higher premiums.

9. Riders

Selecting riders or add-on covers will increase the premium. So, you must select only those add-ons which are highly necessary.

10. Medical Inflation

When inflation leads to a rise in healthcare costs, insurance providers will increase the premiums too.

Tips to Select the Premium of a Critical Illness Insurance Policy

If you are looking for reasonable premiums while getting a critical illness insurance policy, here are a few tips to offer assistance to you:–

1. Choose an Adequate Sum Insured

Select a satisfactory whole safety net provider that can cover your restorative and non-medical costs. A higher entirety guarantor will lead to higher premiums, so you must select a sum that offers adequate coverage and is affordable.

2. Assess the Risk Factors

Evaluate the chance variables of creating basic sicknesses and see for suitable coverage.

3. Opt for a Critical Illness Insurance Rider

Selecting a critical illness insurance rider will be less costly compared to a standalone approach. If you don’t have a family history of such sicknesses but need to amplify the scope of your standard healthcare arrangement, an add-on cover may give satisfactory coverage.

4. Broad or Basic Policy Covering

A health insurance plan covering a wide range of basic illnesses will be costly. You must choose whether to select for broader scope or an essential one.

5. Check for Discounts

Check for rebates by keeping up a sound way of life, using the no-claim reward, or bundling with other insurance products.

6. Comparing Quotes Offered by Different Insurers

Comparing quotations advertised by distinctive insurance providers will offer assistance to you in discovering the best health insurance policy that meets your requirements.

Conclusion

Critical illness insurance offers essential financial support during severe health crises, enabling individuals to access quality healthcare without overwhelming financial strain. This policy provides peace of mind, knowing that one is covered against life-threatening illnesses, allowing for quicker recovery and a focus on health rather than monetary worries.

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Common Winter Skin Issues

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  • Rosacea

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  • Psoriasis

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Winter Skin Care Routine

In the winter, your skin can get extremely dry and irritated. But don't worry, there are some simple tips for skincare for winter months you can do to protect your skin during the colder months:

1. Use a thick moisturiser

Your summer moisturisers may not be adequate for the winter. Switch to a thick, cream-based moisturiser instead for the winter months. It will help to calm your skin and protect it from becoming red and irritated.

2. Be gentle with your face wash

If your face feels dry and tight after washing, your face wash is probably too harsh. Try a milder, hydrating cleanser with a balanced pH. It will clean your skin without leaving it all dry.

3. Pamper your hands and feet

Your hands and feet don't have as many oil glands as the rest of your body; they can get extremely dry and cracked in the winter. Apply moisturiser before heading outside. Choose petroleum jelly or glycerine-based creams or lotions for your feet. You can even exfoliate your feet occasionally to aid in better absorption of the moisturiser.

4. Sunscreen is a must

Even in the dead of winter, the wind, snow, and rain may be harsh on your skin. Wear gloves and a hat, and remember to apply sunscreen. Although the sun may not seem as hot, UV radiation can still cause skin damage. For the best protection, choose a sunscreen that has titanium dioxide or zinc oxide.

5. Stay hydrated and eat well

Drinking plenty of water and eating nutritious food can help keep your skin looking healthy. Foods high in vitamins A, C, and E can be beneficial to the skin. They can help keep the skin in good condition. You can also hydrate your body by eating salads, soups, milk, and juices, which provide essential nutrients for healthy skin.

6. Get a humidifier

When the indoor heating is on, the air inside can get quite dry. A humidifier provides moisture to the air, which can help prevent dry skin. Consider purchasing a humidifier for your home.

7. Wear comfy clothes

Tight clothing can aggravate dry skin, especially in cold weather. Wear loose, comfortable clothing. Soft and natural textiles are a good choice. Just ensure that your clothing isn't too tight, so your skin can breathe.

8. Don't overdo the scrubbing

Exfoliating your skin can be beneficial, but don't overdo it. Twice a week can be sufficient. Massage your skin in small circles to help increase blood flow. Your skin will appear healthy and bright. However, don't scrub too hard, or you will hurt your skin's protective barrier.

9. Avoid taking hot showers

Hot water may strip away your skin's natural oils. To avoid excessive dryness, take mild showers that are only a few minutes long.

10. Protective lip balm

Don't forget about your lips. To avoid chapping and keep your lips supple and protected, use a nourishing lip balm with SPF.

11. Consider a serum boost

Another winter skincare essential is including a moisturising serum in your routine. Serums high in hyaluronic acid and antioxidants can provide your skin with an extra layer of protection and moisture.

12. Stay active

During chilly winter mornings, it can be tough to get up from your cosy bed. However, your skin can benefit from physical activity. Exercise can raise your heart rate, allowing more blood to reach your skin and important organs.

Benefits of a Winter Skin Care Routine

A winter skincare routine has multiple benefits for the health and appearance of your skin. During the winter, your skin faces a number of challenges, including dryness, irritation, and even damage from extreme weather conditions. Implementing a winter skin care routine will help you address these issues while also providing the following benefits:

  • Preventing skin issues

    A healthy skincare routine can also help to prevent skin issues such as eczema and dry patches, which are common in the winter. Regular moisturising and exfoliation can help keep these problems at bay.

  • Hydration

    The dryness of the winter air can leave your skin parched. A good skin care routine ensures that your skin receives the moisture it requires to stay hydrated, preventing dryness, irritation, and flakiness.

  • Protection

    Winter's harsh conditions, such as cold winds and low temperatures, can damage your skin's natural barrier. To protect your skin from the elements, a winter skincare routine often involves protective products such as thick moisturisers and sunscreen.

  • Nourishment

    Many winter skin care products contain important nutrients and vitamins that nourish your skin and keep it healthy and radiant. Vitamins E, A, and C, as well as antioxidants, can help repair your skin.

Invest in Health Insurance for a Secure Tomorrow

Following winter skincare tips, which include moisturising, gentle cleaning, and protective clothing, is essential for preserving healthy, glowing skin during the cold season, offering protection from the harsh winter elements, and promoting overall well-being. Similarly, having health insurance can protect you by providing financial support for medical care during medical emergencies. With a health insurance plan in place, you not only protect your health but also have the added benefit of potentially managing lower health insurance premium costs. So, to secure a holistic approach to your winter well-being, invest in both a winter skincare routine and reliable health insurance.

FAQs

What is the best winter skin care routine?

To keep your skin healthy during the cold season, the best winter skin care routine includes moisturising, gentle washing, safeguarding your hands and feet, applying sunscreen, staying hydrated, using a humidifier, wearing loose clothing, and avoiding excessive exfoliating.

Why is it necessary to take care of your skin in the winter?

Long periods of exposure to chilly weather can cause your skin to become dry and flaky. A winter skincare routine is required to deal with dry skin throughout the cold season.

What should we apply to our skin in the winter?

Changing weather can affect your skin, so it is critical to modify your skincare routine. To nurture your skin, use thick moisturisers without harmful chemicals and don't forget to use sunscreen.

What winter skincare essentials are ideal for winter?

The best skincare products for winter are the ones that work well for your skin. Choose gentle products that do not include harsh ingredients.

What are the benefits of a humidifier for winter skincare?

A humidifier adds moisture to the dry indoor air, preventing your skin from drying out.

Is sunscreen required in the winter?

Yes, UV radiation can cause skin damage even in the winter; therefore, wearing sunscreen every day is vital.

Disclaimer: The above information is indicative in nature. For more details on the risk factor, terms and conditions, please refer to the Sales Brochure and Policy Wordings carefully before concluding a sale.

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