Health Insurance Premium Calculator: A Smart Way to Plan Your Policy Needs

Health insurance policies are designed to provide broader health coverage, to reduce the financial burden in the event of a medical emergency. There are different types of health insurance policies available in India. So, before buying the health insurance plan, it is beneficial to read the list of coverages, exclusions and waiting period.

And before buying a policy, calculating the premium is also very important. If you have a health insurance policy, you have to pay a certain premium to an insurance company every year, so that if you meet an accident or have to undergo surgery or an operation, the insurer will pay you in its name. Ahealth insurance premium calculator helps you compare multiple plans based on your needs.

In this article, we are going to explore Bajaj Allianz General Insurance Company health insurance premium calculator.

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 reviewing different medical insurance policies offered by popular insurance companies online. You can compare health insurance plans based on several factors, including age, gender, occupation, number of members covered by a policy, and more. One can also customize his health insurance policies and notice a change in the health insurance premium. In this way, the use of a health insurance premium calculator helps to better make the purchase decision.* Terms and conditions apply

Benefits of a Health Insurance Premium Calculator

An insurance policy document can be quite complex, with complicated terms and conditions that are difficult for a layman to understand. This can result in the selection of a policy that is either inadequate or may end up costing you much more than expected. By helping you decipher the estimated amount you would have to pay as a premium, a health insurance calculator can prove to be your best ally.

It also allows you to create a policy that suits your needs. For example, you can choose the type of coverage you are looking for when calculating the premium on this calculator. If adding a coverage item results in a higher premium than your budget, you may consider eliminating it from your policy. *

How does a health insurance calculator work?

Entry age

Normally, someone in their 20s pays a lower premium compared to someone in their 40s. Therefore, your entry age is a crucial factor considered to give you an estimate of the premium amount. *

Policy term

Generally, the premium for a 1-year policy is lower than for a 2-year plan. However, if you opt for a longer term policy, you tend to get discounts from insurance service providers. This factor is also taken into account to calculate the amount of the premium. *

Chosen package
Different insurance plans come with different premium amounts. The amount of your premium will depend on the plan chosen. If you’re looking to buy insurance or upgrade your existing coverage, a health insurance calculator will give you the head start you need. *

Type of coverage

You can either purchase a standalone health insurance policy for yourself or one that covers your family members. In the case of an individual policy, the premium amount depends on your age, occupation, income, lifestyle and medical history, among others.
On the other hand, for a Floating family health insurance covering all family members, the premium depends on the age of the oldest covered member. *

Sum insured

The sum insured is the amount of coverage provided by a Health insurance plan. In other words, medical costs beyond this amount are your responsibility. The premiums are directly proportional to the sum insured. The higher the sum insured, the higher the amount of the premium. *

* Terms and conditions apply

Using a health insurance premium calculator is important before opting for a health insurance policy. Bajaj Allianz General Insurance Company General Health Insurance Premium Calculator comes with a plethora of services with customized options. To learn more, visit the Bajaj Allianz General Insurance Company website.

To note: A health insurance premium calculator is an online tool programmed to provide certain results based on input. Thus, the amount it calculates is only an estimate. The actual premium you will pay may differ from the estimated results and is based on several subjective factors.

Insurance is the subject of the solicitation. For full details of benefits, exclusions, limitations, terms and conditions, please read the sales brochure/policy wording carefully before making a sale.

Eleanor C. William