Health Insurance Calculator

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Health Insurance Premium Calculator

Health insurance is basically a policy that pays for your medical expenses. If you own a health insurance you have to pay some amount of premium every year to an insurance company and if you have met an accident or need to undergo an operation or a surgery, the insurance company will pay for those expenses on your behalf. There are several types of health insurance policies in India. A health insurance premium calculator is a tool that helps you in knowing the premium amounts that you need to pay for your health insurance premium. With this calculator, you would be able to calculate premium of top health insurance plans by best Health insurance companies of India such as Bajaj Allianz Health Insurance, Cigna TTK health insurance, Max Bupa Health insurance, Reliance Health Insurance, Religare Health Insurance, Royal Sundaram Health Insurance, Future Generali Health Insurance, Hdfc Ergo Health Insurance, Iffco Tokio Health Insurance, L & T Health Insurance and Star Health Insurance among others.

Health insurance premium calculation at PolicyX.com is an easy and free tool. You can easily calculate the premium of health insurance policy by following some simple steps. PolicyX.com makes the whole process easier for you. For getting the desired results, all you need to do is fill some basic information in the form and within a few seconds you will get the exact health insurance premium that you need to pay under your chosen health policy.

Health Insurance Premium and Tax Benefits

Health insurance premium is a fixed amount that you need to pay on definite intervals, for keeping your health insurance plan running. You get several benefits with a health insurance policy-

  • You will get the tax benefit under section 80D if the premium contribution is made from an income that is chargeable under tax as it plays a vital role in determining the tax benefit for a customer.

  • Premium paid for a health insurance policy of immediate family members is exempt from tax. It includes payment for individual, spouse, parents and dependent children. The premium paid for anybody except these is not entitled for tax exemption.

  • Particular premiums are liable for tax exemption. It means you cannot enjoy the tax benefit after crossing a certain limit.

How Is It Calculated?

Have you ever noticed how insurance companies calculate premiums of health insurance policies? There are several factors that decide the insurance premiums. However, it is a fact that insurance companies have their own guidelines for calculating the health insurance premium. Below is the list of some guidelines that insurers follow.

1. Marketing And Management Costs These expenses are also recovered from the premium paid by the insured. Such expense includes the cost of marketing, broker's commission, advertisement, marketing cost and many other operational expenses.

2. Savings It is the section of premium that is put into several public investments. Such investments are created on guidelines issues by the insurance regulatory body of India. Calculation of premium depends upon the returns of these capitalizations.

3. Policy UnderwritingsInsurance companies usually deals in several health insurance plans such as individual health insurance, family floater health policies, and group health insurance companies among others. All of these companies get the health insurance policies underwritten in such a way that there is a balance between all of them at the same time. They try to grab policy risk from every possible angle and consider many factors that can cause trouble at a point.

4. MortalityThis is the price that a health insurance company has to bear in case of any eventuality to the policyholder. The expense of mortality fluctuates for several age groups and income groups and is usually high for older customers.

5. Personal History The insurance company may or may not conduct a health checkup before providing the health insurance plan. However, they will take an account of your health like your personal habits that includes drinking, smoking and age among others.

Well, it is true that most of the health insurance companies requires you to undergo a medical checkup to offer a health insurance policy and some may believe on your documents only to proceed further. Usually insurance companies make sure about your health history before offering a health insurance policy and based on that they will offer the needful cover and charge premium accordingly. This directly means that if you have a bad health history, or consume alcohol and have some smoke habits then company might charge extra premium for this.

Need of Calculating Health Insurance Premium

Calculating health insurance premiums is an important but cumbersome task. Generally people rely on insurance providers suggestions for their health insurance plans. However, with the growth of helpful tools online, the calculation of health insurance premium has become easier. This also makes sure that the customer is aware in advance about the policy that he/she selects.

Financial planning will become easier if you get to know the exact premium amount of your health insurance plan, beforehand. With this you can easily understand what should be the ideal health insurance premium amount that you can afford. By providing some basic information you will know the health premium payment as per your needs. Health insurance premium calculation is a difficult task as there are different parameters involved in it. But you can do the same easily by taking help of our health insurance premium calculator.

Benefits of Using Health Insurance Premium Calculator

There is no doubt in saying that health insurance policies are pretty much complicated to understand in a one single shot, and each company have its own terms and conditions regarding this. It is true that most of the people are not aware of the insurance terms and might pay an extra amount to meet their expectations. It would be great for such people to know their needs and everything related to the policy in advance like how much premium you will have to pay. Yes, the whole process of buying a health insurance plan will become easy. Below are the some basic benefits that a health insurance premium calculator can offer

  • By using a health insurance premium calculator, you will have an idea or estimation about the health insurance premium in advance.

  • With the same, it will be quite easier for you to select the best plan which can easily go well with your needs and pocket as well.

  • You can add on exclude any additional rider

  • It will become easier for you to make decision that what next you should do.

How To Use Health Insurance Premium Calculator By Policyx.Com?

Here at PolicyX.com, we are providing advanced version of health insurance premium calculator that will help you in getting a required estimation in advance. It allows you to calculate health insurance premiums of various policies with a free quote.

For using this effective tool, all you need to do is to fill your personal details in the form along with the other required details. Based on the information provided by you, you will get an accurate estimation of the premium and you can now compare health insurance quotes easily.

  • Visit the Health Insurance Premium Calculator page

  • Select you family member to include in policy,

  • Mention DOB

  • Fill the basic details like Name, Phone number and email among others.

  • Click the “Calculate your Premium” Tab

  • Enjoy free quotes ad compare to get the best.

No you are able to compare quotes and get the best health insurance plan within the budget easily.

Customer Reviews

"helped in claim settlement"
- "Great"

I had a claim and policyx helped me sorting it out with the insurance company. Thankful to you guys Read More.. I had a claim and policyx helped me sorting it out with the insurance company. Thankful to you guys

Kaushal , Mumbai
Reviewed On 12-03-2018
"choice of plans"
- "Great"

Many policies to choose from with wider options Read More.. Many policies to choose from with wider options

Sriram singh, Pune
Reviewed On 05-03-2018
"cigna ttk plan is good"
- "Great"

I bought cigna ttk plan suggested by them and it is ver good plan I must say Read More.. I bought cigna ttk plan suggested by them and it is ver good plan I must say

Kavita, Gurgaon
Reviewed On 27-02-2018
"satisfied"
- "Great"

satisfied with the services. The customer care team is good and provides appropriate information Read More.. satisfied with the services. The customer care team is good and provides appropriate information

Ridhi Desai, Delhi
Reviewed On 24-02-2018
"good site"
- "Great"

good site Read More.. good site

Naman gangwal, Delhi
Reviewed On 19-02-2018
"Good service"
- "Great"

Good service Read More.. Good service

Tiya verma, Pune
Reviewed On 09-01-2018
"Easy tool"
- "Great"

It is a free and very easy tool Read More.. It is a free and very easy tool

Yash yogi, Mumbai
Reviewed On 07-01-2018
1

Aggregate Rating for Health Insurance Calculator Insurance    [ 7  ]