What Is Health Insurance Premium Calculator?

A health insurance policy is an affordable medium to financially protect yourself and your family from unexpected medical expenses. Today, there are several types of health insurance plans available in the market. You can choose a mediclaim policy that best meets your needs. However, before you buy a health insurance plan, it is important to know the amount an insurer will charge you for providing the agreed health insurance coverage. This predetermined sum of money that you are required to pay to the insurance company to avail coverage and benefits under the health insurance plan is known as a health insurance premium.

Generally, you pay premiums monthly, quarterly, semi-annually or annually during the policy tenure. In return for the health insurance premiums paid, the insurance company is liable to pay for your eligible medical expenses, hospitalisation bills and other policy benefits.

How To Use A Health Insurance Premium Calculator?

A health insurance calculator makes the process of buying the health insurance policy super quick and convenient for you. The mediclaim calculator helps you budget effectively and make an informed purchase decision regarding your health cover. Using a mediclaim policy calculator is completely hassle-free.

Here are the steps to use a mediclaim policy premium calculator on the website:

Step 1: Choose members you want to insure. You can cover yourself, your spouse, children and parents. This online calculator is also fit to be used as a family health insurance premium calculator.

Step 2: Enter basic details like mobile number, date of birth, etc., for yourself and all those you want to insure. Click on get quote.

Step 3: You will get different health insurance plan options. You can choose a health cover as per your suitability, sum insured and coverage period. You also get an option to improve your health plan coverage through individual add-ons, such as high-end diagnostics, dental OPD treatment, emergency air ambulance, cost of consumables, top-up against deductibles, and treatment overseas.

Step 4: You would need to answer some simple questions regarding your lifestyle habits. It is advisable to answer these questions as truthfully as possible.

Step 5: After entering all details, you would input your name and email address, and the mediclaim insurance premium calculator will give you an estimate of your health insurance policy premiums.

If you are satisfied with the premiums of your chosen health insurance plan, you can select any one of the preferred online premium payment options to get immediate coverage.

Required Information For The Premium Calculation

All health insurance premium calculators in India require you to input only basic personal details, such as:

• Name, age, gender, city, email, contact details, etc.
• Lifestyle habits such as smoking, drinking, consuming tobacco, etc.
• Medical history such as existing diseases like diabetes, etc.
• Policy type and tenure

Conclusion

When you use a mediclaim insurance premium calculator, you get a near-to-accurate idea of the premiums for your health insurance plan. You can use the results from the health insurance premium calculator and then check your policy documents to know the total premiums due for your policy, which will be inclusive of all the costs.

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