Health

What is a Health Insurance Premium Calculator?

Not long ago, there was a time when all the premium calculated for health insurance was done manually. Not to mention the hidden charges that are incurred in every health insurance plan here and there. With the rapid changes in the technological field, insurance companies came up with health insurance calculators. With the help of a health insurance calculator, by filling in some details you can get your health insurance premium calculated instantly.

How is Health Insurance Premium Calculated?

Various things are taken into consideration when calculating the premium for your health insurance.

  1. Age and Gender: Age plays a very important role in calculating the premium. With the increasing age, the issues for diseases and critical illness also increases. The health premium is generally low for females as they are at a lower risk of critical illness than for male candidates.
  2. Lifestyle: The life expectancy and subject to various diseases majorly depend upon how and where a person is living. A person consuming alcohol or smoking cigarettes daily has to pay a higher premium than that of a person following a healthy lifestyle.
  3. Medical History: The medical history of a person also affects the premium calculated. A person with a medical history in his family might be exposed to the same disease soon. This is why a person with a medical history in his family has to pay a higher premium amount.
  4. Policy Plan Selected: As there are various customized plans available for health insurance policies, the premium changes with every plan. It depends upon whether you have opted for any add-ons if the plan covers just an individual or the entire family.
  5. Policy Term: The policy term also decides on the amount which you have to pay for a health insurance plan. There is a fixed charge for any plan for a fixed period. However, the insurance companies are willing to provide a discount on the premium, if the policy is for the long term. Care Health Insurance limited provides a sophisticated interface for calculating your policy premium. It has a network of more than 15500 healthcare providers across India.

Advantages of Using a Health Insurance Calculator

There are numerous benefits of calculating your premium online with the help of an insurance calculator:

  1. It can be done with the convenience of sitting at your home or work within a few minutes. All you need is an internet connection and your smartphone.
  2. It spares you the tedious task of meeting an agent to know about the various terms and conditions and charges and that too without any hidden charges.
  3. You can choose various customized plans with add-ons like maternity, critical illnesses, etc. in advance during the premium calculation process.
  4. You can compare different policies offered, and choose the one that is beneficial for you without being a burden on your pocket.
  5. You can opt for any available discounts, if available at the time when you are buying the plan.

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