How to use Mediclaim Policy Premium Calculator to Calculate Premium ?

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70 NEWS JAPAN - A mediclaim insurance policy offers the benefit of hospitalisation and both public and private sector insurance companies offer mediclaim policies in India. Hospitalisation due to a sudden illness, an unexpected incident and unforeseen surgery, and domiciliary hospitalization, which generally lead to hospitalisation for more than three days are all coverable under a proper mediclaim policy. This policy is also valid for the treatment of an illness or injury to someone who could not be shifted to a hospital or a clinic and required proper hospitalisation facilities at home because of unavailability of hospital accommodation. Staying at home due to asthma, diarrhoea or arthritis will not be covered under domiciliary hospitalisation.

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Mediclaim policies are available in the market, which offer coverage to an entire family. These days, you have to pay a minimal premium in exchange for very good benefits. In a medical policy, a beneficiary is named who will get the claim pay-out(s) in case of the death of the policyholder. Mediclaim is different from a health insurance, as mediclaim is specific to the expenses that arise out of hospitalisation and health insurance is a comprehensive cover for all medical needs. Mediclaim does not cover dental expenses or cosmetic surgery expenses. Mediclaims offer cashless policies where the insurer directly pays to the healthcare provider- be it a hospital or a clinic. This reduces the financial burden on the policyholder considerably, provided they can concentrate on the treatment completely. A few mediclaim providers in the market are Max Bupa health insurance, Star health mediclaim, Aditya Birla health insurance, Religare health insurance, Royal Sundaram health insurance etc.

The mediclaim premium is the amount of money that needs to be paid to the insurance provider periodically, in order to avail the medicalaim coverage as and when needed and this premium also keeps the policy in force. Mediclaim policy premium calculator will help you choose the best mediclaim insurance policy, based on your needs corresponding details entered. Mediclaim policy premium calculator allows us to compare and analyse different policies available in the market, and thus choose the best policy based on your needs.

Health insurance premium calculator is based on several factors. The insurers have their own list of factors that include your age, pre-existing medical conditions, individual medical history, and the whole family’s medical history etc. For instance, the amount you paid as premium at the age of 25 years would be lesser than the amount that you will need to pay at the age of 45 years. This is because with age, the treatment expense also increases and so does the premium. This is just because you are more prone to aliments at the age of 45 than at the age of 25. Mediclaim policies, mostly, require a pre-policy medical check-up most insurers have their own set of doctors to do so and the application is filled based on the test results.

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If you have a pre-existing illness/ailment or you are a chain-smoker or consume alcohol quite frequently, then details like these entered in the premium calculator would automatically hike the premium. It is mandatory that you fill up these details honestly because if you deliberately hide such information, there are chances that your policy gets rejected if they find out the same in your medical report.