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All You Need to Know About Health Insurance Premium Calculator

Published On Sep 01, 2022

A health insurance premium calculator is a free tool that lets you figure out the premiums for different health insurance plans and compare and look at the different medical insurance policies that popular insurance companies offer online. 

You can compare health insurance plans based on your age, gender, profession, the number of people covered by a policy, and other things. People can also change their health insurance policies and see how their premiums change. Using a health insurance premium calculator can help you make a better choice about what to buy.

All You Need to Know About Health Insurance Premium Calculator

What Is The Premium For Health Insurance?

The health insurance premium is the amount of money you have to pay to an insurance company on a regular basis to get medical coverage and keep your policy in effect. You can use a health insurance premium calculator to figure out how much your monthly premium will be based on how much insurance you need. In exchange, the insurance company has to pay for hospital stays and medical bills if there is a medical emergency or if a disease is found, as long as the policy terms are followed.

Advantages of the Health Insurance Premium Calculator

The health insurance premium calculator has the following benefits:

  • With the help of a health insurance premium calculator, you can get an idea of how much the premium will be before you buy the policy.
  • You can choose a health insurance plan that works well for you.
  • You can sort and list the quotes based on what you want.
  • A health insurance premium calculator can also show you what discounts are out there.
  • You know ahead of time how much add-ons and extras will cost.
  • You can change the information you enter into the medical insurance premium calculator, and you can add or take away extra coverage using Riders from different insurance companies that sell their plans online.
  • You don't have to go to an insurance agent or branch to make your choice. Instead, you can decide when you're ready.

What Factors Affect the Cost of a Health Insurance Plan?

Health insurance plans vary on the basis of the needs of the individuals and so does the premium. Some of them are listed below: 

  • Medical History: Based on the results of a pre-medical screening or a medical history, the health insurance premium is set. In some plans, you may not have to get a medical exam, but your current health, your family's health history, and the way you live your life are all taken into account. Most of the time, the premium for smokers is on the higher side.
  • Age and Gender at Entry: Age is a big part of how health insurance premiums are calculated. The rate goes up as the age of the proposer goes up. As people get older, they are more likely to get serious illnesses like heart disease, kidney disease, and the like. This is why the cost of a basic health plan is usually lower than the cost of a health plan for seniors. Also, the premiums for women are lower than those for men because they are less likely to have a heart attack, stroke, etc.
  • Policy Term: A health insurance plan for one year will cost less than one for two years. But if you buy a policy for a long time, the insurance company will give you a discount.
  • Plan Chosen: Everyone knows that the cost of your premium will depend on the plan you choose. The premium will be less the less risk there is, and vice versa. A health insurance premium calculator can help you choose a plan that gives you the most benefits for the price you want to pay.
  • No Claim Bonus (NCB): It's the discount on your insurance premium that you get for all the years you haven't made a claim. This is an important thing to think about.
  • Lifestyle: If you smoke or drink a lot, you may have to pay a higher premium. The company can actually refuse to give you a policy.


In the end, an online premium calculator lets you figure out how much your health insurance premiums will be and gives you a free quote. You can compare different health insurance plans based on both the cost of the premium and the benefits that come with the plan.

Also read: Health Insurance With Maternity Coverage: An Important Tool To Enjoy Motherhood

List Of The Major Diseases That Should Be Covered In My Health Plan


This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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