Calculate your health insurance premium with our easy-to-use calculator
| Component | Amount |
|---|---|
| Base Premium | ₹6,500 |
| City Tier Loading ℹ️ Extra charge based on your city's medical costs | +₹650 |
| Age Loading ℹ️ Premium increases with age | +₹325 |
| Lifestyle Loading ℹ️ Additional charge based on lifestyle factors | +₹0 |
| Health Conditions Loading ℹ️ Extra charge for pre-existing conditions | +₹0 |
| Tenure Discount ℹ️ Discount for multi-year policies | -₹0 |
| Total Premium | ₹7,475 |
| GST (18%) | ₹977 |
| Year | Age | Premium | Discount | Total |
|---|
Health insurance helps cover expensive medical treatments and hospitalizations, saving you from financial stress during medical emergencies.
Premiums paid for health insurance are eligible for tax deductions up to ₹25,000 for self and family, and up to ₹50,000 for senior citizens.
Comprehensive health insurance plans cover everything from routine hospitalization to critical illnesses like cancer and heart diseases.
Knowing that you and your family are protected against medical emergencies provides mental peace and financial security.
Health insurance is a contract between an individual and an insurance company, where the insurer agrees to cover a portion or all of the insured's medical expenses in exchange for regular premium payments. It acts as a financial safety net against unexpected healthcare costs arising from illnesses, injuries, or accidents.
There are several types of health insurance plans tailored to different needs:
- Individual Health Insurance: Covers a single person with personalized benefits.
- Family Floater: A single policy covering the entire family under one sum assured, ideal for cost-sharing.
- Critical Illness Insurance: Provides a lump-sum payout upon diagnosis of severe diseases like cancer, heart attack, or stroke.
Sum Assured is the maximum amount the insurance company will pay for covered medical expenses in a policy year. Choosing an adequate sum is crucial to avoid out-of-pocket costs during claims.
GST is applied at 18% on the total premium (base + loadings). It's a government tax, and the final premium includes this amount for transparency.
Yes, under Section 80D of the Income Tax Act, you can claim deductions up to ₹25,000 for self, spouse, and children, and an additional ₹25,000-50,000 for parents, depending on their age.
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