Life & Health Insurance in Oman

There comes a sense of security and confidence after knowing that even if your health depreciates in any condition, you and your family are financially ready to tackle it. If you cannot buy both health and life insurances, it becomes a bit tricky to choose one among the two.

People mostly get confused between life insurance and health insurance. But, you need not worry as we have brought a complete guide to understand the difference better along with its uses.

Also, if you are from Oman, you will get to know about an Oman health insurance company from where you can get your insurance if you wish to. So keep reading to explore more.

Comparing health and life insurance

Both health and life insurances cover entirely different services. Starting with life insurance, it covers the death benefit in case of premature death. The second insurance serves medical expenses, including visiting the doctor, hospital stays, medications, and tests.

But, you must also acknowledge that the people who have dependants require both insurances. If you are tight on money, you can opt for limited coverage to afford both insurances.

Factors affecting life insurance premiums

• Age: The amount that the insurer pays you increases with age.
• Gender: Women live longer than men and hence pay comparatively lesser than men.
• Health history: The cost of your premium increases with severe health issues.
• Family health history: Though you are not facing any health issue currently, yet you might face one if the case is hereditary. Your premium’s cost increase with this.
• Smoking/drinking/other habits: The cost of premium increases if you are into smoking or any other harmful habits. If you have left smoking, drinking, etc., you can contact your insurer to see if your rate could lower.
• Hobbies: Risky hobbies, like sky-diving, racing, etc., increases the cost of the premium.
• Occupation: If you are into a risky occupation like pilot, army, loggers, or any other occupation that might include working with chemicals, etc., your cost increases.
• The policy is chosen: Opting for insurance with high benefit amounts and an extended period. Permanent life insurance is costlier than term life insurance.

Factors affecting health insurance premiums

• Medical history: The cost of your premium increases with severe health issues.
• BMI: People with high BMI are more prone to diseases, and hence, they bear a high premium cost.
• Harmful habits and lifestyle: The cost of premium increases if you are into smoking or any other harmful habits. If you have left smoking, drinking, etc., you can contact your insurer to see if your premium rate could lower.
• Age: Younger people tend to pay less than older ones as older people are more prone to diseases.
• Occupation: The riskier is your job; the more is the cost of your premium.

Conclusion

Health and life insurances play an essential part throughout your life. You should try to have both insurances. If your pocket doesn’t allow you to have both, you can try having both but at lower coverage.

Vision Insurance, health insurance in Oman, can provide you good services related to insurance. But, you must understand your requirement and then opt for the most suitable insurance.