Comparing various health insurance plans offered by different companies is a crucial stage before buying a health insurance policy. It makes the process more complex. Health insurance plan is an insurance product that provides you with financial aid during times of a medical emergency. Paying-off the hefty hospitalisation bills is no less than a nightmare, and thus you need health insurance.

There are various factors based on which a person makes a decision to buy a particular health insurance plan. While purchasing a health insurance plan, one of the most important factors is premiums. It is the amount a policyholder must pay at specific intervals to keep the health insurance plan active. Health insurance coverage is usually a huge amount, and thus the premiums can affect your monthly/yearly expenses.

Hence, it is necessary to calculate the premium amount before applying for a health insurance plan. But how to calculate health insurance premium amount?

The task is easy as most of the insurance providers offer health insurance premium calculator on their website. All you need to do is enter your basic details and it will give you the result.

Here are some steps that can help you calculate your premium amount with health insurance calculator-

Step 1: Click on the health insurance tab of your preferred insurer official website

Step 2: Choose from the given options or feed in the city name of your residence

Step 3: Input the number of family members that you wish to cover

Step 4: Insert the age of the oldest family member

Step 5: Insert in your personal details such as name, mobile number, etc., and click on the show result button

Based on the information filled by you, a host of health insurance schemes will be offered from which you can choose the best. Keep in mind factors such as age, location, prevailing taxes or GST directly affect the premiums.

Calculating health insurance premium amount is necessary but a cumbersome task. Normally, people procrastinate this step and agree upon the amount the insurance company suggests. There are online tools available to calculate the amount. It will help you ensure that the policy you choose fits in your budget that too before signing up the insurance documents. Using online health insurance calculator will benefit you in many ways like:

• It will help you plan your finances easily as you will be well aware of the premium amount to be paid beforehand.
• You can choose the coverage amount wisely and confidently when you know how much premium amount will be charged on it. You can try the trial and error process by adjusting the parameters of health insurance calculator, which is otherwise a difficult task if you calculate manually.
• Various companies offer different premiums on different plans. Online health insurance premium calculator will help you calculate such plans by the offers made by the insurers.
• Calculating health insurance premium amount can be a complex task for many. However, it is made easier with online health calculator. Thus, encouraging more people to follow the proper research and comparison process before purchasing the plan.