Do the math before buying a health insurance policy


Health insurance policies are designed to provide extensive health coverage and ease the financial burden in the event of a medical emergency. However, it would be helpful to calculate a policy premium before purchasing a health policy, as the insurance premium calculator allows you to distinguish between different plans based on your needs.

Ankit Agrawal, CEO and Co-Founder of, said: “Health is priceless and especially after the pandemic and the growing health risks, people of all income groups, ages and genders must purchase a health insurance policy carefully. “

So, you can use online calculators because they are freely available and easy to use. Today, every insurance company has its policies and calculators.

“It is essential to do the research before subscribing to an offer, although people have the freedom to choose an appropriate health insurance policy, based on a comparison between the different health policies available on the market. “said Agrawal.

While online health calculators provide health insurance premiums for multiple plans and present an accurate policy premium, there may be an additional charge subject to underwriting approval if you report a pre-existing condition.

Typically, health insurers determine the cost of the premium after assessing your lifestyle, medical history, and pre-existing conditions. Almost all health insurers have their own parameters and according to these they set the cost of the premium.

A health insurance calculator gives you a preliminary idea of ​​the cost of policies up front and saves you a lot of energy and time that you would otherwise have spent understanding complex premium processes. It also facilitates ease of purchase and comparison.

Sheenu Sehgal, Vice President and National Head of GI, Bajaj Capital Ltd, said: “The insurance premium calculator makes it easier to buy not only by giving premiums for insurance products, but also allowing comparison of features. and amendments to various plans.

Agrawal added, “The health insurance premium calculator offers to change the duration of the premium data, and you have the freedom to exclude and include additional coverage via endorsements provided by various insurers offering their plans when. buying insurance online. They allow you to add and remove insureds, change plan benefits, change face amount, etc., allowing you to choose the components you need. You can further analyze the monetary impact of a particular add-on on your monthly budget using the information provided by the Health Insurance Calculator. “

In addition, by calculating health insurance premiums, you tend to eliminate errors. Calculators typically available online allow you to specify your premium payment obligations and ensure you are paying the correct amount.

In many cases, people tend to bypass police terms, which ultimately results in them paying more than necessary.

Agrawal said, “You don’t have to be fooled by blogging on the internet or by ‘friendly’ advice from your parent. The health insurance calculator saves you the trouble of becoming a mathematician while having to work out the premiums yourself. “

While calculating the insurance premium is a critical aspect of purchasing a policy, understanding your health insurance needs is also crucial.

Generally, there are three types of health policies. The first offers fixed benefits, the second is indemnity-type policies, and the third provides specific disease-based policies, usually related to critical illnesses.

Therefore, you need to review the pros and cons of each type of policy and then choose the one that best meets your needs.

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