At an affordable price for you
Or call us on our toll free number
A health insurance plan is indispensable for your financial security and provides a shield against rising medical inflation rates. In the present context where healthcare needs top priority, an ideal health policy offers you high medical coverage with various benefits. As much as finding the right plan, it is also essential to calculate health insurance premium and compare quotations. Estimating your health or medical insurance premium is the primary step toward finding an affordable policy for yourself & your family.
Thankfully, technology has minimized manual efforts. You can now use the online space to get a health insurance policy while also calculating the cost of your health cover. A medical insurance premium calculator is a digital tool that simplifies complex policy calculations and improves your policy-buying decisions. This way, you need not chase insurers for a quote. Instead, get an initial idea of the estimated premium with just a few clicks!
CHI offers an online health insurance premium calculator that can help you estimate the premium costs for free. The calculation depends on several factors, such as your age, number of insured persons, pre-existing conditions, family medical history, amount of coverage, etc. Explore more about what factors determine a premium cost and how you can reduce the same with wise choices.
A health insurance premium is an amount one pays to the insurer periodically to avail policy benefits and cover the risks. The periodicity of the premium pay-out could be monthly, quarterly, or yearly. The premium amount can differ for individuals and families, majorly depending on the age and lifestyle of the insured members.
For instance, a young individual in his 20s would likely pay a lesser premium cost than an insured person in his 40s—the higher the age, the higher risk of contracting health diseases. Also, the number of people covered in a single policy determines premium cost, besides the policy opted for and its terms.
The choice of insurance plan and the sum insured are critical factors that impact the health insurance premium calculation. Besides, a health insurance company considers factors, such as lifestyle, health conditions, family history, and other details provided by the insured person while deciding the premium amount.
Understanding your expenditures and investments is of utmost importance with a family to take care of and support. While a health insurance premium is an investment, prior calculation of the premium amount adds to your financial planning.
While numerous insurers choose from, an online mediclaim premium calculator helps you compare the policy costs and features effortlessly. You can add insured members—from self and family to senior citizens—to select the right health cover. Not only members, but you can also add other healthcare benefits that suit your specific medical needs and calculate your mediclaim premium in minutes!
Besides being quick and convenient, a health policy premium calculator offers the following benefits-
>>Know About Mediclaim Policy and Its Benefits
Look for best health plan that suits your need!
If you wonder how health insurance companies calculate the premium, you should acquaint yourself with the primary factors influencing the insurance pay-out. These factors include the coverage of your healthcare policy, number of insured members, their age, gender, health conditions, among other parameters as mentioned below-
Health Insurance is a shield that protects you and your loved ones in cases of medical emergencies.
An affordable health insurance plan ensures that a financial crisis is not an issue during a medical emergency.
With the skyrocketing cost of healthcare in the country, opting for a good health Insurance Plan is a wise decision for the safety of the individual and family as a whole.
19000+
Cashless Healthcare Providers
30 Lacs +
Claim Settled**
100%
In-house settlement for better management
95.2%
Industry best claim settlement ratio*
37
Less grievance ratio per 10,000 claims
Calculating mediclaim policy premium has become all the more convenient with CHI's digital premium calculator. We don't need too much information to process an estimate of your insurance payment. Just help us with a few essential details as below-
Along with the above-mentioned information, all we need are your contact details to help you better understand the chosen policy coverage and its premium amount.
>> Check: Health insurance for Parents
Getting a free quote and computing your premium cost through the online medicalim policy premium calculator is super easy. All you need to do is key in your mobile number and choose desired healthcare cover from the drop-down options to start using the care insurance premium calculator following these simple steps-
Access the health insurance premium calculator on Care Health Insurance website, and follow these simple steps:
CHI offers three policy estimation options: family health insurance, pre-existing diseases cover, and senior citizen health insurance premium calculator. The health insurance premium calculator will automatically calculate the amount you must pay to be eligible for the coverage. You can check the premium and critical benefits in your base health insurance cover.
Customize your policy with ease! In a matter of a few minutes, you get a precise idea about how much you need to spend on your health insurance policy. Moreover, you can alter the various factors you prefer, such as adding or removing policyholders. The premium amount will change accordingly.
Please Note: The premium calculated by the digital tool is an estimated insurance pay-out based on your shared information. After an underwriting review of your current health condition, there may be a slight variation in the premium cost. Other factors, such as existing health problems or family history, might also be considered. However, there won't be any major differences in the premium amount calculated post review of your application. With the help of the health insurance plan calculator, you will have a reasonably good idea of how much you will have to pay to enjoy health coverage benefits.
Example:
Given below is a quick table to explain how the mediclaim premium rates vary for our individual and family floater health insurance plans, considering different age groups of the insured people-
Suppose the sum insured is Rs 5 lakh for a policy term of 1 year. The premium includes 18% GST.
Age (in years) | Premium for Individual Health Insurance | Premium for Family Health Insurance (Self, Spouse, and 1 Child) |
30 | Rs. 6,620 | Rs. 12,332 |
40 | Rs. 7,200 | Rs. 14,110 |
50 | Rs. 12,792 | Rs. 22,221 |
*The premium rates displayed are for policies without add-on covers. The insured persons do not have pre-existing conditions
Considering the above table, you can expedite your policy-buying decision by choosing the best health insurance cover. Separate individual policies for your family members will hold a higher premium than a family floater policy. However, we suggest issuing a personal healthcare policy to senior citizens or someone with a prior medical condition. For young family members, it is wise to invest in family health insurance plans as the premium is affordable.
*IBAI Claims Handbook for FY 19-20
A higher premium does not mean higher coverage. Even the lower premium health insurance policy can give you good benefits for your health care needs. Also, it is quite possible to reduce your chances of paying a high premium. While medical inflation is at an all-time high, we at CHI ensure that you do not pay higher premium costs due to rising healthcare treatment costs.
Here are some easy tips on how to reduce your medical insurance premium -
In a nutshell, a mediclaim policy calculator is an effective tool to choose the right health insurance plan. It gives you a precise estimate of the cost of a health insurance plan so that you can pick the most affordable one accordingly. However, it is better to give preference to adequate coverage over the amount of the premium.
Health Claim settlement ratio and credibility are also equally important. So, you can opt for our comprehensive health plans that offer maximum coverage at an affordable premium.
Additionally, to calculate the cost of family health insurance plans, you can use a family health insurance premium calculator by simply providing details about your family members. With the Care Medical Insurance Premium Calculator, you can fetch premium rates at your fingertips.
Yes. When buying a health insurance policy, you have to pay the health insurance premium and GST charges at a rate of 18%. For example, the premium amount for a policy of Rs 5 lakhs is Rs 12,000. Then, the policyholder will pay this amount along with the GST charges of Rs 2,160. Thus, the total amount to be paid will be Rs 14,160.
Yes. The premium cost for health policies varies from one insurance provider to another. Every insurance company has its guidelines and follows the medical underwriting process for calculating the premium.
Several factors affect the healthcare premium rates. Some of them include family medical history, age of the insured person(s), lifestyle, health risks, type of policy, amount of coverage, etc. Besides, an insurer will adhere to the underwriting process and consider a range of factors involving location, political stability of the region, lifestyle in a city, etc.
To get quotes for medical insurance policies offered by Care Health Insurance, visit our official website, where you would find various policies as per your requirements. Go to the ‘Get Quote’ section and provide relevant details, as requested.
To calculate your parent's health insurance premium, access a mediclaim policy premium calculator on CHI's website. Enter the details regarding your parents' age, medical history, and the number of members covered and click to calculate the amount. If you opt for senior citizen health insurance, customize the number of people you wish to insure along with their age and gender.
You can use our Family Health Insurance Premium Calculator to know the premium cost of your family medical insurance plan. Use the tool and enter the number of insured persons, age, and other details as required. It will give you an estimate of the amount you must pay to the insurer to avail of the benefits under your family health policy.
You can compare premium amounts by getting quotations for different health insurance policies with CHI's premium calculator. If you opt for a family health cover, then using a premium calculator will give you an idea about the amount payable. The web-based tool will help you compare various policies and choose the right plan suitable for your family. You can create a health insurance premium chart to analyze the health policies and the premium for making an informed decision. Carefully assess the policy features for selecting an affordable health cover.
*Claim Settlement Ratio is for FY 19-20
^^Number of Cashless Healthcare Providers till 25th March 2022.
**number of claims settled as on February, 2022
GET FREE QUOTE