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.
- The number of insured persons along with their age and gender under the Family Health Insurance plan.
- The number of adults and children insured and the eldest member's age for the Pre-existing Disease Cover. You should also disclose any pre-existing medical conditions.
- The age and gender of all the members you want to get insured when opting for a Senior Citizen Health Insurance.
>> Check: Health insurance for Parents
How to Use Health Insurance Premium Calculator?
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:
- Step 1: Visit the "Calculate Health Insurance Premium" page under the 'Health Insurance' tab on the CHI website.
- Step 2: Choose a suitable health policy from the drop-down menu. Enter your phone number and click 'Get Quote'—located at the page's top right corner.
- Step 3: Enter your pin code and email address.
- Step 4: Click 'Next' to select the number of members—you wish to get insured—along with their age and gender. If you are going for a pre-existing disease cover, you should declare the number of adult members and children and the age of the eldest member. Also, you need to state if elderly policy-seekers have any pre-existing conditions or not.
- Step 5: Customize the sum insured using the meter in the 'Total Coverage' section and switch between multiple policy terms from 1 to 3 years to evaluate the policy's premium.
- Step 6: Voila! Your instant medical insurance premium calculation is complete and visible in the "Care Quote" section.
- Step 7: Include any/all of the add-on benefits suggested on the 'Care Quote' display to enhance your health insurance coverage. You can instantly notice the change in the premium amount as you club add-on benefits.
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
How to Reduce Health Insurance Premium?
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 -
- Opt for family floater plan: With CHI's family floater plan, we cover multiple family members under a single policy; thus, the premium decreases.
- Go for Higher Deductible: It is an amount that you have to pay to the health insurer before you get the claim. It is beneficial to go for a higher voluntary deductible that results in lower medical insurance premium rates.
- Invest in Health Insurance in Young Age: It is good to invest in medical insurance when you are young. It costs you a lesser premium because you are fit and healthy and less prone to diseases. As a person ages, the chances of paying a high premium for a health cover increases.
- Choose Multi-Year Policy: You often get a discount on the long-term policy. Care Health Insurance (Formerly Religare Health Insurance) offers a 10% discount for a 3-year policy tenure.
- Leading a healthy lifestyle: Your lifestyle influences your health. By leading a healthy lifestyle, like avoiding excess alcohol consumption and smoking, you lower the risks of facing health issues and are likely to pay a low premium amount than those at higher stakes.
- Go for regular health check-ups: The premium is high if one has any pre-existing disease. Monitoring your health condition will help you detect the early signs of ailments, like diabetes and hypertension, before they arrive. This way, your chances of contracting health issues will remain low.
- Maintaining Body Mass Index (BMI): Individuals with normal BMI will pay a lower premium. So, it is vital to stay healthy and keep an ideal Body Mass Index within the standard limit.
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.
