Your health insurance premium is the payment you make to access your health insurance policy. You need to pay your annual health insurance premium in order to keep your health insurance plan active.
Plans with low monthly premiums may not be the best fit for you if they have a high deductible, copayment, or coinsurance. If you frequently utilize health services and choose a policy with a low premium, you may end up paying more out-of-pocket because of high deductibles and other out-of-pocket costs. Carefully weigh the different costs before choosing your plan.
The factors that derive your premium are:
1. No. of insured Members
2. Age of the Eldest Member
3. Your location
4. Coverage Amount
5. Pre - Existing Diseases