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How to Calculate Mediclaim Premium Using Mediclaim Policy Premium Calculator ?

22 April, 2019

In a fast developing country like India, people are still unaware about the need of health insurance to tackle financial emergencies that arise out of any sudden illness or an accident. Also, studies have shown that 70% of the Indians are yet to opt for an insurance that protects them against unforeseen hospitalization expenses. Skyrocketing medical expenses have made mediclaim or health insurance policies a necessity to make healthcare affordable for a large number of people. Thus, the ideal way to protect yourself against medical emergencies is through a mediclaim insurance policy. Simply put, this type of policy takes care of medical expenses in case of hospitalization due to an accident or an illness. Moreover, it covers you for the lodging and treatment cost up to the certain amount that you choose before buying the policy. Medical policy takes care of your expenses in the following situations –

 

  • In case of an accident
  • In case of an illness or surgery
  • In case of any surgery during the term of policy

 

So when you insure your health, you are required to pay the annual premium to the insurance company and in return the insurer will give provide you with an assurance to cover the hospitalization bills and medical expenses. This is where mediclaim policy premium calculator plays its major role. A mediclaim policy premium calculator is an online tool that helps you get the right premium by entering a few details.

 

What are the types of mediclaim policies in India?

 

    Mediclaim policies can be broadly classified under these following categories –

 

  • Individual mediclaim policy: In this type of mediclaim policy only the individual person is insured against all the financial liabilities of hospitalization. This type of policy offers mediclaim and other benefits to just one person.
  • Family-floater mediclaim policy: This type of mediclaim insurance policy offers financial cover to your entire family that covers them against mediclaim expenses, hospitalization, and other types of medical related expenses. This policy offers coverage to self, spouse, dependent children, and in most of the cases it offers coverage to dependent parents as well.

 

What is mediclaim policy premium?

 

Mediclaim policy comes as a rescue in case you are hospitalized due to any disease or accident. The mediclaim policy premium is the amount of money that you need to pay to an insurance company in order to get the medical coverage. Mediclaim policy premium calculator helps you calculate your mediclaim premium on the basis of your insurance needs. With the help of a mediclaim policy premium calculator, you can select the best mediclaim policy at an affordable price and get the policy issued in a very less time.

 

What is the importance of mediclaim policy premium calculator?

 

Here’s a why it is important to use a mediclaim policy premium calculator -

 

  1. You get a better understanding of the various different players available in the market and the products you can opt for
  2. It makes the overall process of buying a mediclaim policy easier
  3. This is a value-of-money option that gives you a clear idea of various plans you are looking for
  4. It gives you quick and accurate results

 

Benefits of using mediclaim policy premium calculator –

 

Benefits of mediclaim policy vary depending on the insurance company. Listed below are some of the benefits of using mediclaim policy premium calculator –

 

  1. With the help of mediclaim policy premium calculator, you get an estimate of the premium before buying the policy.
  2. It helps you to take your decisions wisely as you don’t have to go and meet any insurance agent in person.
  3. Based on the comparison between several plans, you can easily choose a mediclaim premium policy.
  4. It’s a hassle free tool and thus, doesn’t require any sort of paperwork.
  5. It makes your mediclaim premium calculation quick and easy.

 

Step-by-step guide on how to use mediclaim policy premium calculator –

 

To start using a mediclaim policy premium calculator, you need to fill in all the details along with the other details. On the basis of the information offered by you, you will get an estimate of the mediclaim policy premium. Here’s a step-by-step guide that will help you calculate mediclaim policy premium using mediclaim policy premium calculator –

 

  • Step 1: Log on to the website of Royal Sundaram and select the mediclaim insurance option (individual or family floater)
  • Step 2: Enter your mobile number
  • Step 3: Choose members who need to be insured
  • Step 4: Click on the “get quote” option to get the quote

 

Sudden medical emergencies will leave a hole in your pockets, thus it’s good to protect yourself well in advance. With the rise in number of diseases, buying a mediclaim policy plays a very important role with regards to one’s security. So, use a mediclaim policy premium calculator and choose the best mediclaim policy at an affordable rate. Besides, if you are looking to buy mediclaim policy online, then go for Royal Sundaram; it offers comprehensive health insurance plans online at affordable prices.