Ans. to the ques. no. - 1

Definition of Health Insurance: A way to pay for health and medical expenses is simply health insurance. Health insurance covers some or all of the costs of routine care, emergency care, and treatment for chronic illnesses. When we are injured or sick, it protects us from paying the full costs of medical services.

In the United States,  often employers provided health insurance as part of a benefits package, while Medicare and Medicaid provide retired and low-income citizens with health insurance coverage.

Ans. to the ques. no. - 2

Definition of Premium: Periodically an amount paid  to the insurer by the insured for covering his risk is defined as premium. The insurer charges an amount for taking this risk that called premium.

Simply, a premium is the payment or installment that insured agree to pay a company in order to have insurance.

The Determinants of Premium are mentioned in the following:

1.  Pre-existing Medical Conditions

2.  Family Medical History

3.  Body Mass Index (BMI)

4.  Injurious substances

5.  Gender

6.  Age

7.  Choice of Profession

8.  Marital Status

9.  No Insurance yet

10. Location of Stay