A health insurance premium calculator is an online tool that helps you calculate the premium amount that must be paid towards your health insurance for continuous coverage. Moreover, it helps compare different health insurance plans to find the best fit.
Learn how to use an online medical insurance premium calculator with this step-by-step guide.
Process to Use Health Insurance Cost Calculator?
Using a health insurance cost estimator tool online involves some basic understanding of the different information requirements for each of the steps. The steps may differ from insurer to insurer, but the overall process is the same.
Here are the steps to follow when using our health insurance premium calculator.
Step 1 - Access Calculator
Visit our website to view the
health insurance premium calculator.
Step 2 - Choose Coverage
Select any one of the coverage options available between Floater and Individual.
Step 3 - Add Additional Information
If you choose Individual, you will be required to add the following information to proceed.
Policy Start Date
Number of Members
Sum Insured Amount
If you choose Floater, you will be required to add the following information to proceed.
Category between Parents, In-Laws and Family
Policy Start Date
Number of Adult Members
Number of Children
Sum Insured Amount
Date of Birth of the Oldest Member in the Plan
Step 4 - Enter Member Details
For the next step, you will need to add insured member details for all the family members who wish to add to your plan. The information requirement is limited to the insured member's name and relationship with you. Once you have done this, click on “Next” to proceed.
Step 5 - Personal Information
On the next page, enter all your personal information accurately. To get the most accurate premium calculation, you need to add details like family size, date of birth, city name, basic lifestyle questions, and current coverage, if any.
Step 6 - Premium Review
All of the details and selections in the previous step will then be taken into account to present an ideal coverage amount for your chosen health insurance plan. Once the final quote is highlighted on your screen, you must review the policy terms, inclusions, and other details before proceeding.
Step 7 - Premium Adjustments
With all the necessary details about the policy displayed on the screen, you can tweak the coverage by adding or removing add-ons, changing the sum insured value, and so on to adjust the premium according to your needs and budget. Once you are satisfied, you need to make the premium payment to buy your new health insurance policy.
Need of Health Insurance Premium Calculator
Your health insurance premium calculation entails detailed consideration of multiple factors. These factors are a combination of controllable and uncontrollable aspects that can be influenced by time and age.
Due to this reason, using a health insurance cost estimator to calculate your premium proves to be a faster and more effective way to assess the potential premium for decision-making.
Other than this, some other
health insurance premium calculator benefits include the following -
Better Comparison
One key benefit of our health insurance premium calculator is its ease of comparison. When you use the calculator, you get the most accurate estimate of your potential health insurance premium for a chosen plan.
Based on this information, you can compare multiple plans to find the one that best suits your requirements and budget.
Higher Flexibility
With a health insurance cost estimator, you can add or remove various coverage aspects and add-ons to customise your plan and review potential quotes without the hassle of visiting an insurance provider to evaluate your options.
Convenient and Quick Calculation
Calculating premiums manually can be overwhelming, as it requires multiple estimates and formulas. However, with a health insurance cost calculator, you can easily compare plans based on readily available calculations, reducing the inconvenience and stress of miscalculation, which can result in incomplete knowledge.
Conclusion
With the ease of a health insurance cost calculator, you can buy health insurance for yourself and your family online without any additional time or effort to secure your loved ones with our affordable premium plans.
We offer a wide range of
health insurance plans, all offering extensive coverage and ample customisation flexibility to cater to our customers' unique needs. To enhance your policy coverage, you can choose from various add-ons, such as daily hospital expenses cover, consumables cover, maternity cover, etc.
Moreover, for added convenience and enhanced user experience, our user-friendly website allows quick policy purchases, renewals, and claim settlements, along with our health insurance premium calculator.
Frequently Asked Questions
What factors impact the health insurance premium of the mediclaim policy calculator?
Your health insurance premium calculation includes careful consideration of various factors, such as age, sum insured value, number of members under a plan, lifestyle habits, medical history, No-Claim Bonus, coverage requirements, and pre-existing conditions. Based on these factors, your premium can be higher or lower.
Is there a health insurance premium chart for Reliance General Insurance products?
Reliance General Insurance does not currently have a health insurance premium chart. This is because all our plans are customisable based on individual needs, and the premium amount is determined according to the coverage choices made by an insurer.
