What factors affect health insurance cost?
Many factors influence your health insurance premium. These include your age, underlying health conditions, lifestyle choices (such as whether you smoke), coverage level, and place of residence.
Can I get health insurance quotes online?
Yes, you can get a quote on the insurer's website. All you need to do is provide the number of members you want to add, include the date of birth, enter your contact details, email address, and PIN code, and click 'Get a Quote'. On the new webpage, you can see the premium for different plans.
How to calculate health insurance premium for parents?
You can calculate the premiums by providing your parents' ages, residence's PIN code, and contact details. For a more customised quotation, include any riders you want and then get in touch with our support executives.
Does the calculator consider my health habits?
No, the calculator does not require you to provide details about your health habits. However, after selecting the policy and proceeding with the application, you will need to provide information about whether you are a smoker, have any existing health conditions, and other related details.
What payment options are available in the health insurance premium calculator?
You can make health insurance premium payments using your debit card, credit card, net banking, or UPI. If you are making a cash payment, it is important to note that you cannot claim the same as a deduction under Section 80D while filing your taxes.
Can I compare health insurance premiums from different insurers?
Yes, you can do so by visiting the website of your preferred insurers and entering the required details into their quote generation tool. Alternatively, you can visit the websites of health insurance aggregators where you can see not only the premiums for different plans but also the features those plans offer.
Will my health insurance premium increase if I have pre-existing conditions?
Yes, since pre-existing conditions increase the likelihood of claim submission and raise the financial risk for the insurer, the premium is higher.
Is GST applied to the insurance premium?
Yes, health insurance premiums attract 18% GST. For example, if the policy premium is INR 10,000, the final amount you need to pay after adding GST will be INR 11,800.
How do I calculate health insurance premiums for a sum insured of Rs 5 lakhs?
The premium for INR 5 lakhs coverage varies based on your age, lifestyle, and the type of plan you are considering. It is best to use the health insurance premium calculator.