Health Insurance Premium Calculator

Health insurance policies cover hospitalisation expenses, medical bills, pre-and post-hospitalisation expenses, diagnostic expenses, OPD expenses, hospital daily allowance, etc., depending on the agreed coverage of the policy. The health insurance premium is the money you need to pay to the insurer to keep the health insurance cover active. 

The premium amount in health insurance depends on various factors, like the type of plan, age of the insured person, amount of coverage, etc. A Health Insurance Premium Calculator is a tool that helps you to find out the premium amount for different combinations of policy types, sum assured, age, riders, etc. 

Premiums are recurring expenditure that you need to make to stay covered under a health insurance plan. The health insurance premium calculator is embedded into the insurer’s website so that it is easier for you to know the premium amount of your health insurance cover. 

The greatest advantage of a health insurance premium calculator is that it simplifies your search for the optimal health cover and premium. You can refer to a premium table or sit with an insurance company representative to determine the premium amount. But with the calculator, you can check all the permutations and combinations at the click of a button. 

The health insurance premium calculator gives you an estimate based on which you can proceed to buy a particular health insurance plan. You also get to check your affordability before purchasing a specific health cover. 

Apart from age, medical history, pre-existing diseases, amount of coverage and lifestyle habits like smoking and drinking, the following are some of the other factors that affect the health insurance premium amount.

• Policy Tenure: Longer tenure will reduce the premium amount compared to a short duration policy.
• Occupation: A policyholder with a desk job will be less of a risk for the insurance company than, say, a coal miner. Premium increases with the level of occupational hazards.
• Body Mass Index: High BMI is considered a precursor to ailments like hypertension, type 2 diabetes, heart problems, and even cancer. High BMI increases the premium amount.
• Family History: Family history of heart ailments, cancer, Alzheimer’s disease, and other hereditary diseases can also increase the premium amount.
• Riders: Premium will also increase if you opt for additional covers in your health policy.
• Co-payment: In co-payment, you split the medical bills with your insurer. This reduces the premium amount.

Several reasons make Niva Bupa an ideal choice for buying a health insurance policy

• Track Record: Niva Bupa has served over 70 lakh customers, assuring you that it is a popular choice. 
• Strong Presence: Niva Bupa Health Insurance has a widespread network of over 8,600 empanelled hospitals.
• Claim Settlement: Niva Bupa Health Insurance implements faster claim processing as low as 30 minutes. This ensures that your medical expenses are promptly settled.
• Online Advantage: Niva Bupa Health Insurance offers a special 7.5% discount on online purchases of its health policies.
• Direct Relationship: Niva Bupa doesn’t employ any third party between the company and the policyholder. 
• Digital Presence: Niva Bupa Health Insurance offers digital solutions to address all your health insurance needs with a quick turnaround time and better customer experience

Some of the ways to reduce your health insurance premium amount are, 

• Start Early: Those who start their health insurance policy early are charged a relatively lower premium.
• Sum Assured: Take a look at the medical expenses in your preferred hospitals and decide on a practical sum assured amount. An unrealistic sum assured would require a higher premium and may never be fully utilised.
• Co-payment: By opting for co-payment, you agree to bear a certain percentage of the medical bills. This reduces your health insurance premium amount.
• Deductibles: Deductible is the fixed amount that you pay against your medical bills. Any bill amounts over and above the deductible amount is paid by the insurance company.
• Top-up: You can keep the premium amount low by opting for a policy with a lower sum assured and buying a top-up with a much lower incremental premium.