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Health Insurance Premium Calculator

Calculate Medical Insurance Premium

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7.5% Discount
10% Discount

Your premium is Rs.

Above Premium includes 18% GST

I

93%

Claim Settlement Ratio (OND 2018)

II

8100 +

Network Hospitals across 500 cities

III

400 Lacs+

Lives covered

About Health Insurance Premium Calculator

Using a health insurance premium calculator you can compare different health insurance plans from a wide number of reputed top insurance companies. With the help of this useful tool, you can easily calculate the premium for health insurance. It allows you to select the best medi-claim policy at an affordable price. You can get the insurance premium issued instantly. This is the best and the easiest way to find the best health insurance policy for yourself.

Health insurance premium calculator functions based on several factors. Some of the insurance companies also have their factors to include. This is why the list of factors may differ from company to company. Using a health insurance calculator you can even calculate family health insurance premium without any hassles.

How to use Health Insurance Calculator?

Health Insurance Premium Calculator can be used by following just a few simple steps. Provide your and your family details to get the best health insurance online in just a few minutes.

To Use Health Insurance Premium Calculator:

  • First, go to a Health Insurance Calculator page.
  • Now enter the details in the Health Insurance Premium Calculator including the number of members to be included in the plan, the birth date of the senior-most member of the family and others. You need to enter the exact number of family members and not an approximate value.
  • You also need to mention the sum assured or coverage.
  • In the next step, you need to key-in the policy tenure details.
  • Now Click on the Calculate Premium button to get the results. Based on the provided details, the calculator will give you the approximate premium payable

>> Also Read: Common Mistakes to avoid while buying health insurance

One of the biggest reasons why a lot of young people do not insure their Health in the early years is because they always feel it would be expensive. However that is not true and with so many health insurance players in the market today, there is a wide range of solutions available at different price brackets. So before buying your next phone, planning your car, etc. it is imperative that one explores the market and finds a Health Insurance that suits their pocket.

What is Health Insurance Premium?

Health Insurance premium is the amount one pays to their Health Insurer on a periodic basis on availing coverage under one of the plans offered by them. The periodicity of this payout could be monthly, quarterly or yearly. This amount largely depends on the age of the Insured. Usually Health Insurance premium increases with age. Apart from this, the number of people covered in a single policy is also a contributing factor.

Apart from this, the choice of plan, sum insured option and other benefits also contribute to the premium of health insurance. There are plans that offer cashless hospitalization across the Globe which might make them a bit expensive than plans that restrict coverage to only India.

Another aspect that governs premiums is the scope of coverage and add-on covers opted. These covers help in enhancing one's coverage but come at an extra cost. Add-On Covers could be for OPD Expenses or increasing No-Claim Bonus etc.

How to Calculate Family Health Insurance Premium?

When trying to calculate the health insurance premium for your family, you can make use of the health insurance premium calculator. There will be certain factors you will have to select based on your family and insurance needs. Insurance companies have different calculators with different factors.

With the Religare's health insurance premium calculator, you can begin by selecting how many people are there in your family and how many of these are children if any. You then have to specify the age of the oldest member of your family is. If you have a parent that you want to include in your health insurance plan, this is the perfect opportunity to do so. You then have to decide the amount you want to be insured for. This is the upper limit of health-related bills and payments that your insurance will cover.

For example, if you pick 5 lakh as the insurance sum, your medical bills of up to 5 lakh will be covered by the insurance company. Based on the plan, you might also be asked for the period the plan applies after which it will have to be renewed.

Religare Health Insurance offers several types of health insurance plans with a different scope of coverage for each. The health insurance premium calculator varies for each of these different plans. Once you decide which of the plans and its scope of coverage suits you and your family, you can pick the corresponding calculator and fill in the details of your family and insurance limit.

The health insurance premium calculator will automatically calculate the premium you will have to pay in order to enjoy the coverage. You can make as many changes to the various factors as you like such as adding or removing family members from a particular plan.

An important note here is that the number the health insurance premium calculator provides is an estimate of the premium you will have to pay. After you meet with executives from the insurance company, certain other factors might be included in your health insurance premium such as existing health problems or family history. However, this variation will not be too high, and with the calculator's help, you will have a pretty good idea of how much you will have to pay in order to enjoy health insurance coverage benefits.

Factors Affecting Health Insurance Premium

Insurance companies use a complex method of risk assessment to determine your health insurance premium. Your medical history, family history, and the information in your application comprise of your risk profile. This information is compared to the company's benchmarks in order to generate a health insurance premium for your family health insurance plan.

Though different companies have different benchmarks and value assessment, there are certain factors that all companies pay particular attention to while calculating health insurance premiums.

  1. One of the main factors is BMI or Body Mass Index which calculates the ratio of height and weight of an individual. If the individual has an unhealthy BMI, then they are deemed to have a high risk and are charged higher premiums. This is because it is assumed that people with high BMI are more likely to develop lifestyle diseases including heart disease, sleep apnea, diabetes, and joint problems.
  2. Another important factor is the use of tobacco in any form. Insurance companies will charge a higher medical insurance premium to those who are using or have used tobacco. However, some insurance providers will provide coverage for nicotine patches or gum, if prescribed by a doctor.
  3. Gender also plays an important role in deciding health insurance premiums. Women pay higher premiums as it is assumed that they will need more hospital visits in their lifetime than men.
  4. Premiums also go higher the older in age you are.
  5. There are also certain non-physical health factors that are also considered when calculating health insurance premiums. If you are working in a profession where you are exposed to a risky environment, then your premiums could go higher. Married couples are also expected to live longer and healthier, and their premiums are much lower than for individuals. If you are buying insurance for the first time, then you might be charged a higher premium as the companies assume that you will have health check-ups done after getting insurance cover.

What Health Insurance companies do to make premiums affordable?

There are a lot of ways in which one could lower the premium that they pay. Health Insurance companies often give a discount if one chooses a longer policy duration. For example - Religare Health Insurance offers a 10% discount on choosing tenure of 3 Years and 7.5% on a 2-year policy tenure.

Furthermore, companies allow individuals to choose if they can pay a small amount of sum at the time of claim from their own pocket. By doing this they can get a discount on their premium. This option is called the deductibles.

Apart from this Health Insurance companies offer EMI option thus making health insurance very affordable.

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What our customers say

Vijay Kumar Pandey

I would like to thank you for your great support during fast claim processing. Thanks a lot for the great support.

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Shivendra Narayan

Pleased with the service I have received from Religare for the claims settlement. Your professionalism and ability to get to the bottom of the situation quickly exceeded my expectations. Great thanks once again for the services provided. Appreciate all the help and co-operation.

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