Your premium is calculated based on the following factors (some of them do not apply for all insurance companies):
- Ages of the people covered under the Insurance companies work in age groups and each group has its own price. Once you get older and move to a higher group, the cost for your insurance will usually rise.
- Sex: Some insurance companies have different prices for males and females.
- Country of residence: Some insurance companies calculate your premium depending on the place you live most of the year, therefore if you move to another country your prices may rise or decrease.
- Optional US coverage: Most policies as standard do not provide coverage in the US or provide limited emergency coverage. If you want to have coverage in the US, this will result in higher prices.
- Medical conditions: Sometimes instead of excluding certain medical conditions, the insurance company will offer you the option to pay a higher premium and have the condition covered.
- Riders: If you purchase a rider (pregnancy, life insurance or dental, for example).