Saturday, June 22, 2024

How to Calculate your Health Insurance Premium?

The amount of money paid to the insurance company at periodic intervals to keep the insurance plan from getting terminated is known as the health insurance premium.  People take health insurance for themselves, spouses, children, and parents to stay protected and financially prepared during medical emergencies. The premium cannot be calculated randomly. An online premium calculator is used to calculate the approximate value. Look at how you can calculate your health insurance premium:

You can visit the official websites of different health insurance companies, check the online health insurance plan, and fill the form with the required details. After that, you will get the quote.

The calculator calculates the amount based on your age, the number of people insured, gender, pre-existing disease, etc. The old you are, the higher the amount of the premium.

Below are the details you need to fill in:

  • City of residence
  • Number of children or adults that will be covered under the plan
  • Age of the oldest member that will be insured
  • Name
  • Mobile number
  • Email address

Based on the data provided, several health insurance plans and their estimated premium amount will show up, and whichever suits your need, you can pick it accordingly.

Benefits of Health Insurance Premium Calculator 

Calculating a health insurance premium is no more a tedious task. Brands like Care Insurance India helps you to pick the right plan based on premium. Read below its benefits:

  • It gives you an idea about how much medical insurance can cost you
  • Calculated premium amount in advance is helpful to set your monthly budget
  • You can compare the calculated premium with different health insurance plans and opt for the most affordable one
  • Easy and hassle-free
  • Premium calculation is free of cost
  • 24X7 online availability

Medical Insurance

How to Use Medical Insurance Policy Premium Calculator?

Below are the steps to calculate the premium for online health insurance in a few minutes:

  • Visit the official websites of any medical insurance company
  • Click on the “Health Insurance” button on the homepage.
  • Click on the “Get Quote Instantly” button.
  • Fill in the required details such as first name, last name, mobile number, email address, and a number of insured members.
  • Click on “I agree to the terms and conditions” and the “Next” button to get the premium amount.

Factors Affecting Health Insurance Premium

The premium varies from plan to plan. There are below several factors that affect the health insurance premium:

  • Age: It is the most critical factor that affects your health insurance premium. The older you get, the more amount you need to pay.
  • BMI: It is the ratio between your weight and height. If you are unhealthy, you may have various diseases like hypertension, diabetes, obesity, heart ailments, etc.
  • Tobacco/Smoking: If you smoke or consume tobacco, it also increases your mediclaim premium.
  • Pre-Existing Disease: If you have any pre-existing diseases, you have to pay a higher premium.
  • Add-on Covers: Many companies offer add-on covers to enhance the policy’s coverage, but on the other side, they increase the cost of insurance that means premium.

Top  Health Insurance Companies Offer Policies at Affordable Premium

  • ICICI Lombard Insurance
  • Care Health Insurance
  • Digit Health Insurance
  • Future Generali Health Insurance
  • HDFC Ergo Health Insurance

Visit their official websites to check and compare the online health insurance premium and make the right choice.

Lindsey Ertz
Lindsey Ertz
Lindsey, a curious soul from NY, is a technical, business writer, and journalist. Her passion lies in crafting well-researched, data-driven content that delivers authentic information to global audiences, fostering curiosity and inspiration.

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