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Health Insurance Premium Calculator

In the ever-changing landscape of healthcare costs, finding the right insurance coverage is crucial. You can use a health insurance premium calculator to know about the exact premium you need to pay towards your health insurance plan. You just need to enter a few details such as age, plan type, and more to get details of health insurance premiums. Read on to learn more about the health insurance premium calculator.

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5 Lac coverage starting from only ₹257/Month*
5 Lac coverage starting from only ₹257/Month*
  • Tax Benefit
    Tax Benefit
    Up to 75000**
  • Claim Support
    Claim Support
    Everyday 10AM-7PM
  • 45 Lacs+
    45 Lacs+
    Happy Customers

*Standard Terms and Conditions Apply.

**Tax benefits are subject to changes in Income Tax Act.

Health Insurance Calculator

Whom do you want the insurance for ?

You
Couple
Family
Father
Mother

Select the age of all members

  • You

Where do you live ?

Choose required Coverage for yourself?

5 Lac
10 Lac
25 Lac
Disclaimer : Actual Premium might vary basis your location, age and number of members

What is a Health Insurance Premium Calculator?

A health insurance premium calculator is a free tool for calculating premiums for various health insurance plans, as well as comparing and examine different medical insurance policies offered by popular insurance companies online. You can compare health insurance plans on the basis of several factors that include age, gender, profession, number of members covered under a policy, etc. One can also customise their health insurance policies and notice a change in the health insurance premium. This way, using this calculator helps in making a better buying decision.

Best Health Insurance Plans In India

  • Cover 5 L
    Starting at 832/month*
    No room rent limit 100% no claim bonusUnlimited restoration benefits3 years PED waiting period
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  • Cover 10 L
    Starting at 739/month*
    No room rent limit Unlimited restoration benefits50% no claim bonus4 Years PED Waiting period
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  • Cover 5 L
    Starting at 447/month*
    No room rent limit 33% no claim bonus100% restoration benefits3 years PED waiting period
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  • Cover 5 L
    Starting at 1,312/month*
    No room rent limit 50% no claim bonus100% restoration benefits3 yrs PED waiting period
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  • Cover 5 L
    Starting at 448/month*
    Single Private A/C Room 20% no claim bonus100% restoration benefits1 year PED waiting period
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  • Cover 5 L
    Starting at 664/month*
    No room rent limit 20% no claim bonus100% restoration benefits2 years PED waiting period
    View All Features
  • Cover 5 L
    Starting at 675/month*
    No room rent limit 50% no claim bonusUnlimited restoration benefits3 years PED waiting period
    View All Features
  • Cover 5 L
    Starting at 690/month*
    Single Private A/C Room 100% restoration benefits3 years PED waiting period
    View All Features
  • Cover 5 L
    Starting at 546/month*
    Twin sharing room Zero no claim bonus100% restoration benefits2 years PED waiting period
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  • Cover 5 L
    Starting at 566/month*
    No room rent limit 20% no claim bonus100% restoration benefits3 years PED waiting period
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  • Cover 5 L
    Starting at 1,770/month*
    Zero no claim bonusNo restoration benefits1 year PED waiting period
    View All Features
  • Cover 40 L
    Starting at 62/month*
  • Cover 2 L
    Starting at 146/month*
  • Cover 5 L
    Starting at 806/month*
    Single Private Room 10% no claim bonus100% restoration benefits2 years PED waiting period
    View All Features
  • Cover 5 L
    Starting at 476/month*
    60% no claim bonus150% restoration benefits4 years PED waiting period
    View All Features
  • Cover 5 L
    Starting at 526/month*
  • Cover 5 L
    Starting at 855/month*
    25% no claim bonus100% restoration benefits4 years PED waiting period
    View All Features
  • Cover 5 L
    Starting at 448/month*
    Single Private A/C Room 20% no claim bonus100% restoration benefits1 year PED waiting period
    View All Features
  • Cover 5 L
    Starting at 396/month*
    No room rent limit Room rent upto 2% of SI Room rent upto 1% of SI No room rent limit
    View All Features
  • Cover 5 L
    Starting at 738/month*
    No room rent limit 50% no claim bonus100% restoration benefits3 yrs PED waiting period
    View All Features
Note: Premium is shown for 18yr old individual of Delhi
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What Is a Health Insurance Premium?

A health insurance premium is a pre-determined sum of money that a policyholder is required to pay to their respective health insurance company in order to avail coverage and benefits offered under a health insurance plan. To use the health insurance premium calculator or medical insurance premium calculator and calculate the amount of premium that must be paid, a policyholder must provide the necessary information. The information includes sum insured, age, pre-existing illness (if any), number of members that need to be covered under the plan, etc. This information provided by the policyholder acts as a parameter depending upon which the amount of premium would get calculated. If there is an unexpected healthcare emergency or a diagnosis of a specific illness, the respective insurance company will pay all of the benefits and coverage listed in the insurance plan, according to the terms and conditions specified in your health plan.

Benefits of Using Medical Insurance Premium Calculator

Health insurance premium calculator offers the following advantages to the users:

  1. Makes Financial Planning Easy

The premium calculator provides a detailed health insurance premium chart that allows you to effectively plan your finances for the future.

  1. Reduces Risk of Defaulting Health Insurance Premium

Keeping yourself informed beforehand about the health insurance premium eliminates the risk of defaulting health insurance premiums as you opt for a policy only that you can afford.

  1. Buy Health Insurance Policy As Per Your Requirements

A health insurance premium calculator can help you in choosing a health insurance policy after adjusting it to your particular needs to make it affordable while providing adequate coverage.

  1. Helps You Choose Add-On Covers Easily

As you enter your personal details, the premium calculator displays the most suitable health insurance quotes. Along with quotes, it also tells you the premium for relevant add-on cover(s) that you can opt for along with your health insurance plan.

  1. Helps You Make an Informed Decision

With a health premium calculator, you can compare, analyse, choose, and be informed of the various benefits of several health insurance policies. This helps you make the best buying decision by keeping you informed about it all. Thus, use health insurance policy premium calculator and get the premium estimates.

  1. Flexibility

Premium calculators for health insurance are quite flexible. They allow you to adjust several variables in order to find the ideal combination of total insured and premium that best meets your needs.

  1. Eliminate the Requirement of Insurance Advisor

With the help of this calculator, you can eliminate the role of an insurance advisor. You can simply search for coverage benefits under different health insurance plans at your convenience. There is no pressure from agents or anyone else to add certain coverage benefits. Because you are the single decision-maker, you can set your own premium by increasing or decreasing coverage benefits.

  1. Filter And Shortlist Premium Quotes

Some health insurance companies also allow you to filter and then shortlist the premium quotes as per your requirements. It also suggests buying certain health insurance plans, as per your preferences entered in the previous steps.

How is Health Insurance Premium Determined?

Take a look at the factors that increase or decrease your health insurance premium:

  1. Age

With growing age, your health insurance premium is bound to climb as old people are more prone to illnesses and use more health care services than young ones. So, it is better to make the timely purchase of a health insurance plan to avoid higher premiums.

  1. Gender

Health insurance premiums differ for men and women. This is because as per the expert, women are more likely to visit doctors, and are therefore demanded a higher premium.

  1. Medical History

If you have a family history from certain diseases, such as cancer, heart disease, or high blood pressure, you are more likely to need medical treatment for them in the future. As a result, you will have to pay a higher premium.

  1. Body Mass Index (BMI)

People with higher BMI are more prone to heart, and joint-related diseases, and even diabetes which is why they are more likely to avail healthcare services in the future.

  1. Smoker/Non-Smoker

Regular smokers are required to pay more health insurance premiums as smoking is significantly risky for health. Regular smokers are more vulnerable to issues like Stroke, Asthma, Cancer, Heart disease, hypertension etc.

  1. Pre-existing Health Conditions

Individuals with pre-existing diseases must pay higher health insurance premiums because they require more coverage than others.

  1. Geographical Location

Your residency may have an effect on the amount of premium you must pay. Some zip codes demand a higher premium than others.

  1. Profession

If you work in a hazardous environment or have a stressful job, then you are more likely to suffer from medical issues which means you will have to pay a higher premium.

Additional Factors Affecting Health Insurance Premium

Since insurance policies are customised for each person, the factors influencing health insurance premiums remain consistent. Several elements impact health insurance premiums, including:

  • Age: Age is the predominant determinant in health insurance premiums. Younger policyholders typically pay lower premiums than older ones. Young individuals in their 20s and 30s often enjoy better health, experiencing fewer illnesses and faster recoveries.
  • Medical Background: Some medical conditions tend to be hereditary, increasing the likelihood of their occurrence in an individual. Premiums may be higher for such individuals due to the increased chances of filing claims.
  • Pre-existing Conditions: Individuals with pre-existing conditions like diabetes or heart disease might face elevated premiums. Some insurers might exclude coverage for pre-existing conditions, while others could impose waiting periods.
  • Coverage Amount: The extent of coverage directly influences premiums – higher coverage amounts lead to higher premiums.
  • Policy Duration: Health insurance policies are usually renewed annually. Opting for longer policy durations can result in lower premiums.

Information Required to Calculate Health Insurance Premium

The insurance company requires specific information to determine the medical insurance premium, including:

  • Historical medical documents
  • Age and gender of the prospective insured person
  • Plan category
  • Supplementary features
  • Policy duration
  • Insured person's lifestyle
  • Benefit of no previous claims

How to Reduce Health Insurance Premium?

Health insurance premiums may sometimes be an obstacle for people having higher health insurance coverage. So, for those who find it difficult to pay high health insurance premiums, here are a few tips:

  1. Purchase Health Insurance At an Early Age: One of the proven ways to save on health insurance premiums is to buy an insurance policy at an early age. This is because as you age, you are more vulnerable to illnesses and are hence required to pay a higher premium then. So, you must choose to timely purchase health insurance coverage.
  1. Go For a Policy With Lower Sum Insured: Health insurance premiums are lower for health insurance plans with a lower sum insured. To save money on premiums, get a policy with a lower sum insured.
  1. Opt For Copay and Deductibles: After the insured is required to pay a fixed portion of their treatment costs, the insurance company covers the balance when the claim is resolved. The deductible, on the other hand, is the fixed payment you must make for hospital bills before your insurance policy kicks in. So, another way to make your health insurance policy more affordable is to opt for cost-sharing health insurance plans that offer copay and deductible options.
  1. Balance Your Health Insurance Plans: An individual can have more than one health insurance policy depending on their requirements. They may have one provided by their employers, an individual health insurance policy, as well as a family floater health insurance policy. In such situations, people must use an individual health insurance policy, regardless of the fact that they may be eligible for benefits under other policies. They will be able to better manage health insurance premiums in this way.
  1. Opt for Top-Up Plans: To avail of high coverage at a low premiums, choosing top-up plans is the best option. The plan comes to your rescue when your medical insurance claim crosses the threshold limit.
  1. Opt for Family Floater Policies: The premium for an individual health insurance policy is based on the sum insured and age of every member added under the policy. Whereas the premium for family floater health insurance plans is based on the eldest family member covered under the policy. Family floater policies are more cost-effective than individual health insurance plans because their premiums can be up to 20% less.
  1. Compare Health Insurance Quotes: The premium rates for health insurance differ from one insurance company to the other. Furthermore, the premiums charged for various health insurance policies vary. Doing a thorough comparison of different insurance plans offered by different insurance companies would help you in choosing the right health plan that would meet your budget and healthcare requirements at an affordable premium cost.
  1. Choose a Multi-Year Health Insurance Plan: The amount of premium paid towards a yearly health insurance plan is higher as compared to a multi-year plan that is purchased for 2 or 3 years. The premium for the entire tenure is paid once, and the insurance provider offers various discounts on health plans purchased for more than one year.

Importance of Using InsuranceDekho’s Health Insurance Premium Calculator

Here are some reasons why you should use InsuranceDekho’s health insurance premium calculator:

  • When you InsuranceDekho’s premium calculator for calculating health insurance premium, you will be able to do so in a hassle-free manner
  • The InsuranceDekho health insurance premium calculator requires a few details to calculate the premium
  • The premium calculator on InsuranceDekho’s website is easy to use and in case you face any problems, you can easily contact our support team

Steps to Use InsuranceDekho's Medical Insurance Premium Calculator

Whether you are buying Rs. 5 lakhs, Rs. 10 lakhs or Rs. 1 crore health insurance plans, you can easily use our premium calculator to get estimates of the premium amount you need to pay. InsuranceDekho’s health insurance premium calculator is a useful tool that is very easy to use. Here is how to use calculate health insurance premium online:

  • Enter your personal details such as name, age, gender, members to be insured, mobile number, city, email ID, etc.
  • Then click on ‘View Instant Quote’.
  • There will be several suitable health insurance policies displayed on your screen as per your requirement, along with the estimated premium amount.
  • You can customize your health insurance policy by changing your requirements. As you change your requirements or details, you will see the premium of health insurance plans change.
  • InsuranceDekho’s health premium calculator helps you see the features and benefits of various health insurance plans along with the premiums to be paid for them. It also allows you to compare two or more health insurance plans and pick the best one for yourself as well as your family. In case of any further query, doubt, or assistance required you can connect with the customer care executives at InsuranceDekho on the toll-free number 7551-196-989.

Tax Benefits of Purchasing Health Insurance

Health insurance plans offer tax advantages in accordance with Section 80D of the Income Tax Act, 1961. Within this section, policyholders can receive tax relief for the premiums they pay towards their preferred health insurance policy. Individuals aged below 60 years can assert a maximum tax exemption of Rs.25,000 per fiscal year. For senior citizens, the tax exemption limit is extended to Rs.30,000 under this Income Tax clause. Primary breadwinners of families can collectively enjoy a cumulative tax exemption of Rs.50,000 each fiscal year, covering their spouse, children, and parents. Furthermore, an additional tax exemption of Rs.5,000 is available for annual health check-ups.

How to File a Health Insurance Claim?

A significant number of individuals encounter challenges when it comes to filing health insurance claims. They perceive it as a complex task to successfully process claims. This perception, however, is being reshaped by online insurers who are leveraging technology to introduce ease, transparency, and speed into the process.

There are three ways through which claims can be filed: offline, via the insurer's representative, or through the online mode utilising the insurer's website or mobile application. You also need to make a choice needs to be made between opting for a Cashless Claim procedure or a reimbursement claim process.

In the cashless process, a substantial portion of the hospital bill doesn't require upfront payment. The insurer and hospital settle the bill directly. Conversely, in the reimbursement process, the hospital bill must be cleared, receipts collected, a claim submitted, and subsequent reimbursement acquired from the insurer.

Here's an overview of the claims process:

Step 1: If choosing Cashless Claims, visit a hospital affiliated with the insurer's network and provide your Health Card or policy information. If not opting for Cashless Claims, visit any preferred hospital and inform the insurer directly or through a Third-party Administrator.

Step 2: A Third-party Administrator at the hospital acts as a liaison between the insurance company and the insured. Cooperate with the TPA by submitting documents and sharing information.

Step 3: Undergo treatment. In a Cashless Process, pay for deductibles or additional costs, while the TPA handles the rest on behalf of the insurer. In a Reimbursement Claim, cover the entire bill and retain comprehensive hospital receipts and bills for the claim application.

Step 4: The Cashless Process concludes upon settling the residual bill, while the Reimbursement Process finalises upon receiving the settlement amount from the insurer in your bank account.

Conclusion

Thus, having a health insurance plans is extremely important. You can use InsuranceDekho’s online health insurance premium calculator to evaluate the premium you need to pay towards your health insurance plan.

Health Insurance Coverage Calculator

Who do you want to insured ?

  • Individual
  • Couple
  • Family
  • Parents

Age of eldest insured member ?

Where do you live ?

Metro
Non-Metro
Disclaimer : Actual Coverage might vary basis your location, age and number of members
Tax Save
Save Tax upto ₹75000*
Under Section 80D

*Tax benefits are subject to changes in Income Tax Act.

Learn more about premium calculator Health Insurance

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FAQ About Health Insurance Calculator

  • Are the premiums paid towards health insurance tax deductible?

    Yes, according to the section 80D of the Income Tax Act, you are eligible to claim for tax deductions on premium amount payable towards a health insurance plan of up to Rs 25,000 for self, spouse and children covered under the plan. An added tax deduction of Rs. 25,000 is provided for dependent parents, who are less than 60 years in age and if parents are more than 60 years in age, then a tax deduction of Rs. 50,000 is provided.

  • How much time do I require to spend online for calculation of insurance premium?

    The best attribute of a health insurance premium calculator is that it is pretty fast and simple. If you use InsuranceDekho’s premium calculator, then you can calculate premium quotes of different health insurance plans based upon your requirement and budget within just a few minutes.

  • What is the benefit of using an online medical insuance premium calculator?

    The benefits of using an online premium calculator are many. The free premium calculation, simplification of complex calculations, time-saving solution, comparison of different quotes, customization of input, and premium calculation result without any mistake are a few benefits that make online premium calculation worthwhile.

    For further information about the premium calculator or any query related to health insurance, dial our toll-free number 755 1196 989.

  • Can I reduce my health insurance premium?

    Yes. You can reduce the health insurance premium of the selected health insurance policy in the following ways:

    • Purchasing the policy at a young age
    • Opting for deductibles or co-payment
    • Choosing top-up or super top-up health insurance plans
    • Choosing a health insurance policy as per your time zone
    • Checking for the No Claim Bonus (NCB) policy
    • Opting for family floater health insurance policies instead of individual health insurance policies.
  • Does the premium for health insurance policies vary with different health insurance companies?

    Yes. The premium for health insurance policies vary with different health insurance companies.

    For further information about the premium calculator or any query related to health insurance, dial our toll-free number 755 1196 989.

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