Ailments come unannounced. We should actually be well-prepared for them to appear in our lives at any point in time. One of the major concerns about getting diseases is not only the discomfort in your health but it may also make holes in your pocket.  Therefore, if you are getting hospitalized, you need to be prepared with the kind of money that you would need to pay for the hospital bills. And if you think it can affect your finances badly, you can consider buying a health insurance policy.

If you take a look at the Indian insurance market, you will come across several options for health insurance policies. The premiums that you would need to pay for them may vary. Therefore, you need to check the premiums of the health insurance policies that you have to pay later. To check and even compare the premiums, you can use the health insurance premium calculator. However, before we talk about the health insurance premium calculator, let us discuss the concept of health insurance premium.

What is a health insurance premium?

The health insurance premium is a certain as well as a fixed amount of money that you have to pay to the insurance company to continue the medical coverage which is a part of your health insurance policy. The sum of money is pre-determined. It is decided on several factors. You must pay this amount to your insurer to enjoy the benefits that the health insurance plan offers.

To determine the premium amount, the insurance company will demand some information from you. On the basis of the information provided by you, the premium amount will be decided. The factors that may affect the premium amount include sum insured, age, pre-existing illness, members that have to be covered under the policy, and many more.

The need of using an online health insurance premium calculator

If you take up the task of manually calculating the insurance premium, it can be too cumbersome. There are many chances that you may even make mistakes while getting the right results. This is why the majority of people these days use the health insurance premium calculator to get accurate results and depending upon that make the best decision.  You will also be able to know whether the health insurance premium is affordable for you or not. When you use a health insurance premium calculator, you get several benefits, which include:

  • An estimate of health insurance premium calculator before you finalize a plan
  • Different plans can be compared so that you can make an informed decision
  • Tedious paperwork can be avoided
  • An estimate of cost and the budget can be planned
  • Saves a lot of time as well as efforts

Factors that affect health insurance premium

The premium that you will have to pay for a health insurance plan is decided by several factors. Some of the factors are mentioned herein below:


Females are considered to be at lower risk of receiving cardiac arrest or strokes. On the other hand, men are more likely to get heart attacks and strokes. Men are also more into drinking and smoking, which exposes them to several illnesses. Therefore, insurance companies decide the premium of the health insurance plans based on gender.


Your age will determine the coverage that you will need. if your age is on the higher side, the premiums will also be higher. Since as you grow older, you are more likely to get sick and hospitalized.

Medical history

Although it is up to the insurance provider whether they want to include your pre-existing medical condition or not. However, if it is included, you will be required to pay higher premiums. To check if you have a medical history, you will be required to undergo medical tests before the insurer approves your health insurance policy.

Apart from these, several other factors decide the premium one has to pay. You can visit the website of IIFL to check out the several health insurance policies that are available in the market.

By Manali

Leave a Reply

Your email address will not be published. Required fields are marked *