A health insurance premium calculator helps you test different combinations of coverages before actually paying for one. This tool helps in the decision making while you set out to buy one of the most important financial products in today’s time, a health insurance plan. Ready to take control of your healthcare costs? Let’s decode the calculator and lock in the perfect plan for you.
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Health insurance premiums in India are determined by considering the following factors.
The age of the oldest insured member plays a very important role in determining health insurance premium. The older you are, the higher the risk of health issues. Hence, premiums increase with age.
You and your family’s medical history will be assessed through previous hospitalisation reports and a medical check-up. Past health conditions and medical history affect the premium. Pre-existing conditions might lead to higher premiums.
Smoking, drinking, and other lifestyle choices impact the premium. Riskier habits result in higher premiums. Try adopting healthier habits like regular exercise or clean eating. This may help reduce your premium.
The higher the sum insured (maximum coverage amount), the higher the premium. However, with a high sum insured you can ensure that you receive all round financial protection in the time of a medical emergency.
The type of policy and the coverage it offers directly impact the premium amount. Comprehensive coverage will have a higher premium. If you opt for more coverage through add-on, then you may have to pay more premium too.
Below are the key levers explained in plain language so you know exactly where you can act to keep premiums affordable without compromising cover.
Where you work and where you live affect both accident risk and treatment costs. High‑hazard jobs, think pilots, miners, field engineers, attract occupational loadings, while living in a metro means you’re billed at “Zone A” hospital rates that can push premiums 10–25 percent above those for tier‑2 or tier‑3 cities.
Insurers reward certainty. Paying two or three years’ premium in one shot trims 7–10 percent because it lowers admin costs and locks in today’s rate against future hikes. Likewise, opting for a voluntary deductible or a higher co‑pay shifts part of each claim to you and can shave up to one‑fifth off the annual premium, sensible if you have employer cover or an emergency fund to absorb small bills.
Most adult applicants undergo some form of medical screening. Abnormal stress‑test, ECG or lab results flag hidden risks and can lead to loadings, exclusions or even rejection. Using accredited labs and following pre‑test guidelines (fasting, no caffeine) ensure accurate readings and prevent avoidable premium bumps.
External forces matter too. A GST hike or fresh IRDAI pricing directive can raise premiums across the industry overnight. Conversely, Section 80D tax deductions soften the net cost, while locking in a multi‑year policy ahead of anticipated regulatory changes can help you sidestep a looming hike.
Here are some tips to reduce your health insurance premium.
Assess your needs and choose a plan that suits you. You might not need coverage for certain conditions if you're young and healthy. Opt for a plan that covers what's essential for you.
Your insurance company may offer a discount if your health tests show you are healthy. So try to eat healthy and follow a consistent exercise schedule as per your health status.
Just like buying clothes, it's good to shop around for health insurance. Different insurers offer different premiums for similar coverage. Take your time and compare various health insurance plans available in India.
This is your share of the claim amount. You need to set it while buying the plan. When you select a higher deductible, your premium decreases. However, choose an amount of deductible which you can easily afford during a medical emergency.
Stick to your policy renewal dates. Renewing on time prevents a lapse in coverage and ensures you maintain a good track record, which can potentially lead to lower premiums.
Assess the health coverage you actually need. Sometimes, people tend to get more coverage than necessary, leading to higher premiums. Customise the plan according to your needs and budget.
Credit score can affect the health insurance premium. Maintaining a good credit score can qualify for lower premiums.
When you buy health insurance, the government encourages you to care for your health and be financially prepared for medical emergencies. So, they give you a little gift in the form of tax benefits!
When you pay your health insurance cost in India, you can claim a tax deduction. This is like a small discount the government gives to thank you for being responsible for your health.
You can claim a deduction for buying health insurance. The amount you can claim depends on the premium you pay, and it has certain limits set by the government.
If you're below 60 years of age, you can claim up to a certain amount. If you're paying premiums for your parents (who might be senior citizens), there's a higher limit for deduction.
Remember, tax rules can change yearly, so it's a good idea to keep up to date. You might want to consult a tax advisor or check the latest guidelines to ensure you're getting the maximum benefit.
Are you seeking the best health insurance coverage without burning a hole in your pocket? ACKO's Health Insurance Premium Calculator is your new best friend! It's like having a magic wand that helps you figure out how much you need to pay for that valuable health coverage.
Here's how you can use it:
Remember, health insurance is like a safety net for you and your loved ones. Choosing a plan that provides adequate coverage without straining your finances is essential. The Health Insurance Premium Calculator by ACKO makes this process a breeze!
Here are steps on how to use a health insurance premium calculator.
Visit a reputable insurer’s website or app, launch “Get a Quote,” and pick your policy type—Individual, Family Floater, or Senior Citizen.
Feed in each member’s age, gender, and city / PIN code; these set the base rate.
Choose a sum insured (₹5 lakh – ₹1 crore) and 1‑, 2‑, or 3‑year term; note multi‑year discounts and how slab pricing keeps larger covers surprisingly affordable.
Toggle extras like critical‑illness or maternity, then disclose smoking habits or pre‑existing conditions for a realistic quote.
View the annual premium (with GST and Section 80D savings), tweak sliders until it fits your budget, save the quote for comparison, and proceed to buy if satisfied—medical tests will finalise the premium.
Here's how the premium is calculated.
Keep in mind the main goal is to ensure you're protected without burning a hole in your pocket. So, choose wisely based on you and your family's health needs.
Disclaimer: *Except for exclusions like maternity benefits, undisclosed diseases, etc. Please check policy wordings for more details.
The plans, services, features, processes, and other details mentioned on this page are subject to availability and changes. Please check the applicable policy wordings before making any insurance-related decisions. Feel free to reach out to us at [email protected] for any queries.
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Reviewed by Rupinderjit 
Acko Technology & Services Private Limited
#36/5, Hustlehub One East, Somasandrapalya, 27th Main Rd, Sector 2, HSR Layout, Bengaluru, Karnataka 560102
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