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Health insurance should help you focus on recovery, not bills.

1 Crore Health Plans starting @₹18/day*.

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We pay 100% of your hospital bills

From syringes to surgeries

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No limit on hospital room rent

No compromises on recovery

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Home>Health Insurance>

Health Insurance Premium Calculator

Health Insurance Premium Calculator

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.

Quick Links

  • Premium Calculator Overview
  • Steps to Use a Health Insurance Premium Calculator
  • What Is Health Insurance Premium?
  • Benefits of Premium Calculator
  • Factors affecting health insurance premium
  • Factors Affecting Health Insurance Premium
  • Tips to Reduce Premium
  • Health Insurance Tax Benefits
  • Use ACKO Premium Calculator
  • How to Use Premium Calculator
  • Health Insurance Premium Formula
  • Info Needed for Premium Estimate
  • Frequently Asked Questions

Health insurance premium calculator overview

How much do you have to pay for health insurance in India? Well, that's where a Health Insurance Premium Calculator comes in handy! It's like buying a new smartphone. There are various health insurance companies in India, each offering different types of plans. Some plans cover basic needs, while others offer more extensive coverage. The premium you pay depends on your chosen plan and your details.

Using a mediclaim premium calculator is super easy. You input your age, select the type of policy, choose the coverage amount, and done! The calculator gives out the estimated premium. It's like a sneak peek into what you'll invest to secure your health.

Steps to Use a Health Insurance Premium Calculator

You can get an instant quote for a health insurance policy online with the help of a premium calculator. Here are the steps:

    • Open a trusted insurance website: Health insurance premium calculators are free online tools that can be found on many websites.
    • Fill in your details: Enter basic details like name, age, location, sum insured you are looking for etc.
    • Select the type of policy: Next select the policy that you are looking to know the premium for. It can be an Individual Plan, Family Floater Plan, Health Insurance for Parents, or Senior CItizen Health Insurance.
    • Add dependants: If you are looking to insure your family members then you must add their details to the premium calculator.
    • Select the sum insured: You can try a couple of options like ₹10 lakhs, ₹25 lakhs, etc. and see how the sum insured affects the premium. If you increase the sum insured then the premium of your policy will also increase.
    • Select riders if applicable: Add-ons help you get more coverage and can add value to your health plan. But they also increase your premium. So be mindful about the number of riders you select. The premium calculator will help you with the approximate premium increase when you add riders.
    • Select policy duration: Many insurance companies offer health insurance for one year but some also offer long term plans. This can affect your premium so choose wisely.
    • Calculate: Once you enter and recheck all the details, you can click on submit.
    • Compare and Customise: You can then modify the details as per the coverage you need.

What is a health insurance premium?

In India, a health insurance premium is the amount you pay regularly to your health insurance company. You pay the premium to keep your health insurance active and get the benefits when you need medical help. The medical insurance premium you pay depends on things like the type of health insurance plan you choose, your age and health condition, and the coverage or benefits the plan offers.

You usually pay the premium yearly. The insurance company uses this money to pay for medical costs when you or your family are in need. So, it's a way to ensure you are financially protected when facing unexpected health issues. Always remember, having health insurance helps you worry less about medical bills and focus more on staying healthy and happy.

Significant benefits of health insurance premium calculator

Here are the benefits of a health insurance calculator.

  • A mediclaim policy calculator Calculator helps you plan your finances smartly. You get to know the exact premium you'll pay for your health insurance. 
  • Just like shopping for your favourite clothes, this tool helps you compare different health insurance plans in India. You can select a plan as per your needs and budget.
  • Everyone is unique, and so are our health needs. A premium calculator considers your age, health condition, coverage preferences, and more. It tailors the insurance options to match what you need.
  • No more long hours of researching and confusing calculations! The premium calculator simplifies the process and gives you results in a jiffy. 
  • Health insurance policies often come with hidden costs. With a premium calculator, you can unravel these hidden elements and understand the real cost of the policy.
  • The calculator educates you about the factors that influence your premium. You'll become more informed about how health insurance works.
  • You can make a better decision about buying your health insurance using a premium calculator. You won't be in the dark about what you're paying for.

Factors affecting health insurance premium

Health insurance premiums in India are determined by considering the following factors. 

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1. Age

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.

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2. Medical History

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.

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3. Lifestyle and Habits

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.

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4. Sum Insured

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.

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5. Policy Type and Coverage

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.

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Additional factors affecting health insurance premium

Below are the key levers explained in plain language so you know exactly where you can act to keep premiums affordable without compromising cover.

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Occupation & City Tier

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.

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Payment Tenure & Structure

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.

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Medical Underwriting Results

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.

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Regulatory & Tax Changes

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.

How to reduce health insurance premium?

Here are some tips to reduce your health insurance premium.

  1. Avoid Unnecessary Coverage

    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.

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  2. Maintain a Healthy Lifestyle

    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.

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  3. Shop Around for the Best Deal

    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.

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  4. Opt for a Higher Deductible

    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.

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  5. Renew Your Policy on Time

    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.

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  6. Don't Over-Insure

    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.

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  7. Have a Good Credit Score

    Credit score can affect the health insurance premium. Maintaining a good credit score can qualify for lower premiums.

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Tax Benefit of Health Insurance

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!

Section 80D of the Income Tax Act

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.

Premium Payments for Family

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.

Age Matters

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.

Check the Rules

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.

How to use ACKO health insurance premium calculator?

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:

    • Visit the ACKO Website: Go to the ACKO website, and you'll easily spot the medical insurance calculator. Simply select Health Insurance and then tap the "Check prices" button.
    • Choose Your Plan: Pick the health insurance plan that suits you best. Whether you're an individual or want a family plan, we've got you covered.
    • Fill in Your Details: The calculator will ask for some basic information like your age, the number of family members to be covered, and other relevant details. Don't worry; it's all confidential!
    • Hit 'Get Quote': After filling in the necessary details, click 'Get Quote.' The calculator will do its magic and provide an estimated premium cost.
    • Compare and Choose: Once you have the premium estimate, you can compare it with other plans and see what fits your budget and requirements best.

    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!

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How to use a medical insurance premium calculator?

Here are steps on how to use a health insurance premium calculator.

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    Open the calculator

    Visit a reputable insurer’s website or app, launch “Get a Quote,” and pick your policy type—Individual, Family Floater, or Senior Citizen.

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    Enter basics

    Feed in each member’s age, gender, and city / PIN code; these set the base rate.

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    Set cover & tenure

    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.

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    Add riders & health info

    Toggle extras like critical‑illness or maternity, then disclose smoking habits or pre‑existing conditions for a realistic quote.

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    Review & act

    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.

What is the health insurance premium formula?

Here's how the premium is calculated.

  • Your Age: Younger folks usually pay less because they tend to have fewer health issues. The older you are, the slightly more you might pay.
  • Health History: If you've had health problems before, your premium could be a bit higher. Insurers look at your medical history to estimate the likelihood of future health issues.
  • Sum Insured: This is the maximum amount your insurer will pay for your medical bills. If you choose a higher sum insured, your premium might be a bit higher.
  • Coverage Type: Different health insurance plans offer different types of coverage. More coverage often means a higher premium.
  • Location: Where you live in India can affect the cost. Places with higher medical costs might have slightly higher premiums.
  • Add-ons and Riders: Your premium increases slightly if you choose extra perks like maternity benefits or critical illness coverage.
  • Discounts: Sometimes, insurance companies offer discounts if you pay for the year upfront or if you have a family plan.

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.

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Information required for the premium calculation

You require some basic information for the premium calculator. Here is the list.

  • Age and Gender: First, they'll ask how old you are. Additionally, they will ask your gender.
  • Health Status: It's time for a little health chat. They'll ask about your health history and current health status. Don't worry, they just want to ensure you're fit as a fiddle!
  • Lifestyle Choices: Yep, your lifestyle matters too! Are you a gym enthusiast or more of a Netflix-and-chill champ? They'll ask about your habits and hobbies.
  • Occupation: What do you do for a living? It matters for the premium. Some jobs might have a bit more risk involved.
  • Coverage Amount: How much coverage are you looking for? This helps decide the premium. More coverage might mean a higher premium, but it's all about giving you peace of mind.
  • Policy Term: How long do you want to be covered? Short-term or long-term, it affects the cost.
  • Smoking Habits: Are you puffing away or savouring the smoke-free life? Smoking can impact the premium.
  • Location: Where you live is also a factor. The city vibes or peaceful countryside can affect the cost.
  • Medical History: They'll want to know about any pre-existing medical conditions. It's all about being transparent and getting the right coverage.
  • Family Medical History: Sometimes, family health history is considered too. It's all about understanding your risk factors.
  • Rider Add-ons: If you want extra benefits, like covering critical illnesses or accidents, they'll ask about that, too. Each add-on might adjust the premium.
  • No Claim Bonus: Renewing without claims earns a cumulative bonus that lowers premiums.

You might be asked to enter other details as required by the insurance company. Providing accurate information for these factors ensures you get the closest estimated premium tailored to your health profile and needs. Comparing quotes with details filled correctly gives you the real picture of potential costs.

Frequently Asked Questions

The premium for ₹20 lakh health insurance  is approximately ₹9 k – 18 k per year for a healthy 25‑ to 35‑year‑old in a metro city.

The premium for ₹10 lakh health insurance is roughly ₹6 k – 12 k per year for the same profile.

₹1 crore health insurance can cost around ₹25 k – 40 k per year for a healthy young adult in a metro city.

The premium for ₹50 lakh health insurance can be between ₹18 k – 30 k per year for a healthy 25‑ to 35‑year‑old in a metro city.

The cheapest health insurance would be Government‑subsidised or entry‑level digital‑only plans (for example, Arogya Sanjeevani) are usually the lowest‑cost, but “cheapest” varies by age, city, and benefits.

The premium for ₹2 crore health insurance can be between ₹40 k – 60 k per year for a healthy 25‑ to 35‑year‑old in a metro city; exact costs depend on insurer, add‑ons, and deductibles.

The cost of an individual health insurance plan varies based on factors like age, health condition, coverage, and insurer. It's best to get personalised quotes from insurers for accurate pricing.

The premium for a sum insured of 5 lakhs is calculated based on your age, health, and the coverage you choose. Insurers have specific formulas to determine the premium. You can get this information from your insurance provider.

Yes, many insurance companies provide online tools to calculate medical insurance premiums. You can input your parents' details and get an estimate of the premium cost.

Yes, you should compare health insurance premiums from various insurers to find the best plan for your needs. Use online comparison tools or consult insurance agents to help you with this.

Using an online health insurance premium calculator is usually free of charge. Insurance companies offer this tool to help individuals estimate their premiums before purchasing a policy.

Yes, having pre-existing diseases can lead to a higher health insurance premium. Insurers consider the risk associated with pre-existing conditions, thus affecting the premium.

Yes, a family history of certain illnesses can impact the policy's premium. Insurers consider family medical history as it may indicate a higher risk for potential health issues.

Yes, health insurance premiums are subject to GST (Goods and Services Tax) as per the prevailing rates set by the government.

Yes, you can claim tax benefits for the premium paid to insure senior family members, including parents.

Using a health insurance premium calculator helps you estimate the insurance cost, allowing you to decide based on your budget and coverage needs.

Smoking increases health insurance premiums due to the associated health risks. Smokers are at risk for health issues, leading to a higher premium.

Policy premiums can increase at renewal due to factors like age, changes in health, claims history, or if the insurance company adjusts rates for all policyholders.

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.

Explore Our Comprehensive Health Insurance Options

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Super Top-up Health InsuranceClick Link
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Roocha Kanade profile avatar

Written by

Roocha Kanade

Content Architect

Dr Nitin Kumar Gupta profile avatar

Reviewed by

Dr Nitin Kumar Gupta

SVP – Health Underwriting & Claims at Acko General Insurance

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ACKO Technology & Services Private Limited
CIN: U74110KA2016PTC120161
The use of images and brands are only for the purpose of indication and illustration.
Products
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Enterprise solutions
Company
About us
Careers
Contact us
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Brand Hub
All resources
Customer stories
Media Kit
Articles
E-books
Guides
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Financials & disclosures
Privacy policy
Terms & conditions
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Car
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IDV calculator
Comprehensive car insurance
Zero depreciation car insurance
Car insurance calculator
Car insurance check
Pay as you drive car insurance
Bike
Bike insurance
Third party bike insurance
Bike Insurance calculator
Check bike insurance validity
Scooter insurance
Used bike insurance
Comprehensive bike insurance
EV bike insurance
Own damage bike insurance
Vehicle services and more
Check & pay e-challan
Check vehicle details
Check vehicle PUC status
Recharge FASTag
Check RC status
Health, life, and other services
Health
Health insurance
Health insurance plans for family
Health insurance for parents
Health insurance premium calculator
Health insurance for senior citizens
80D Deduction
1 crore health insurance
Super top up health insurance
Mediclaim policy
Cashless health insurance
50 lakh health insurance
Critical illness health insurance
Compare health insurance plans
Waiting period in health insurance
Life
Life insurance
Term insurance
Term insurance tax benefit
1 crore term insurance
Term insurance calculator
Term insurance for single parents
Term insurance for senior citizens
Affordable term insurance
Critical illness rider life insurance
Accidental death benefit rider In life insurance
Disability income rider
Best term insurance in India
Best life insurance
Group health insurance
Employee health insurance
Group health insurance add-ons
Maternity cover in group health insurance
Group personal accident insurance
Group health insurance for startups
Corporate health insurance
Other services
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