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Health Insurance Premium Calculator
A health insurance premium calculator estimates how much you may pay for a policy based on factors like age, PIN code, sum insured, family members, lifestyle, medical history and selected add-ons.
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The premium shown is indicative and not final, which may change after underwriting, medical checks, disclosures, and policy customisation. Use the calculator to compare options, adjust coverage, and avoid choosing a low sum insured just to reduce your premium.
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What is a Health Insurance Premium Calculator?
A health insurance premium calculator is an online tool that helps you know how much you need to pay as a premium for a health insurance policy. It is mainly used to check affordability, compare different plans, and understand how factors like coverage amount or location impact your premium. However, the final premium may change slightly after underwriting or medical evaluation.
In simple terms, a premium calculator makes it easier for you to plan your health insurance purchase, avoid surprises, and choose a policy that fits both your healthcare needs and budget.
How Much Does Health Insurance Premium Cost in India?
The cost of health insurance in India varies widely depending on your age, city, coverage amount, and plan type. On average, health insurance premiums can range from ₹5,000 to ₹25,000 per year for an individual, while family floater plans may cost anywhere between ₹10,000 and ₹40,000 or more annually for basic coverage.
Here is a simple table to help you understand different premium amounts for Bangalore (Tier 1 city) for Double Wallet Plan and Infinity Plan at Digit, depending on family and age. This is an example and approximate pricing. Connect with Digit, to get exact pricing as per your plan.
Disclaimer: The premium figures shown above are approximate estimates for general representation purposes only. Actual premiums may vary based on factors such as insurer pricing, detailed medical underwriting, city, lifestyle habits, add-ons selected, and age. Final premiums will be confirmed by the insurer at the time of policy purchase.
Why Should You Calculate Health Insurance Premium Online?
Calculating your health insurance premium online helps you make a well-informed decision before you buy a policy. Here’s why calculating health insurance premium is important:
Know the Actual Cost of Health Policy
Health plan premiums vary widely based on your profile. A calculator shows your personalised cost, not a generic starting price, so you know what you are actually going to pay for your desired policy.
Identify Factors that Affect Your Premium
When you change inputs like age, city, or sum insured in the calculator, you’ll notice how your premium amount changes. Example: Your premiums rise faster when you move from ₹5L to ₹10L+ coverage in metro cities due to higher hospital costs.
Prevents Underinsurance
Choosing a lower sum insured to save premiums can lead to high out-of-pocket expenses during claims. A premium calculator helps you evaluate whether higher coverage is feasible for you.
Helps Compare Multiple Plans
Instead of checking plans one by one, a premium calculator allows you to compare different policies instantly based on your inputs. This makes it easier to find the best value for the coverage you need.
Aligning Coverage with Your Life Stage
Insurance needs to evolve over time. A calculator allows you to adjust coverage based on your current life stage whether individual, married, or with dependents.
Saves Time and Effort
Manual calculations or agent discussions can take time. With an online calculator, you get instant results in seconds, making the process faster and more convenient.
How Does a Health Insurance Premium Calculator Work?
A health insurance premium calculator works by using your personal and coverage details to give the premium cost of your policy. It follows a simple step-by-step working process:
1. Enter Your Details
You start by filling in basic information like your age, city PIN code, gender, pre-existing disease, and number of people to be insured.
2. Select Your Coverage
Next, you choose the sum insured (coverage amount) and any add-ons or riders you want to include in your policy.
3. Provide Health and Lifestyle Information (if applicable)
Provide pre-existing diseases, smoking habits, or medical history, if any. These factors help insurers assess your health risk levels.
4. Get the Premium Amount
The calculator uses pricing logic to evaluate factors like age, location, coverage amount, and medical risk to determine your premium. Finally, it will show you an estimated premium instantly.
5. Adjust and Compare
You can change your inputs, like increasing coverage or adding benefits, to see how your premium changes and find the right balance.
What Details are Required to Calculate Health Insurance Premium?
To calculate your health insurance premium online, you need to provide a few basic personal and coverage-related details. Here are the basic requirements you must fill in for premium calculation:
How to Use the Digit Health Insurance Premium Calculator?
Using a health insurance premium calculator is simple and takes just a few minutes. Follow these steps to get an instant cost of your premium:
Step 1: Enter Basic Details
Visit the Digit app or website. Enter your PIN code and mobile number, select your preferred health insurance plan and provide age details, family members covered, etc.
Step 2: Choose Plan & Add-ons
Compare & select the plan, sum insured, add-on covers and apply any available discounts to get the final premium amount.
Step 3: Get Your Premium
Once all details are entered, the calculator will show your premium for different plan options within seconds. You can also modify inputs, like increasing coverage, removing add-ons, or changing members, to see how your premium changes and choose the best fit.
What are the Factors that Affect your Health Insurance Premium Cost?
Personal Factors
- Age: Premiums increase with age due to higher risk of hospitalisation, especially after 40. Hence, buy a health insurance early to lock in lower premiums.
- Location: The cost of healthcare in your area can have a big impact on premiums. For instance, premiums are typically higher in cities with greater medical expenses.
- Lifestyle: High intake of tobacco, alcohol, and poor lifestyle can increase the risk of health issues, ultimately leading to higher premiums.
- Number of Members Covered: Adding more members increases premium. Choose a family floater if you’re covering multiple people, especially younger families.
- Family Medical History: Existing health conditions increase premium and may come with waiting periods or underwriting loading.
Factors Related to the Plans That Affect Premiums in Health Insurance
- Type of Plan: Your premium payment for your health insurance policy depends on the kind of plan you choose. Example: Individual health insurance plans are more expensive than family floater plans. Hence, use individual plans for older members and floaters for younger families.
- Sum Insured (Coverage Amount): Higher coverage leads to higher premiums. Don’t underinsure, choose adequate coverage, especially if you live in a metro city.
- Add-on Covers: Add-on covers, like critical illness insurance, OPD, no room rent, increase the cost of the premium. Only select add-ons that match your actual needs and avoid paying for unused benefits.
- Co-payment and Deductible: A higher deductible or co-pay reduces premium, as you agree to bear part of the claim cost. Choose higher deductibles in health insurance only if you’re comfortable paying small expenses out of pocket.
- Pre-existing Disease Coverage: If you have a pre-existing disease, you have to wait as per your waiting period to avail of the benefit. You must pay a higher premium to get coverage immediately to reduce this waiting period.
Additional Factors That Affect Premiums in Health Insurance
- Investment and Savings: Insurance companies invest money followed by the guidelines set forth by the IRDA to ensure no compliance issues later on. Hence, the premium you pay is decided by these investments.
- Insurer Pricing & Medical Underwriting: Each insurance company offers several types of products, such as individual policies, group policies, and family floater plans. The underwriting for these policies balances the risks from each policy and manages the insurance provider's liabilities.
Premiums increase most significantly with age and higher sum insured selection. Pre-existing conditions, adding more members to the policy, and choosing additional riders also contribute to higher premiums.
Health Insurance Premium Chart For Families with Different Age Groups
Premium Illustration representing how the prices would vary for different family composition according to different age groups and policy types is mentioned below:
Note: Premium figures are for Digit Health Insurance Plus Policy (UIN: GODHLIP23073V012223) containing features which are typically opted for by our website customers. Premium rates specified in the below illustration shall be standard premium rates without considering any loading. Also, the premium rates shall be exclusive of taxes applicable.
| Plan Name | Double Wallet Plan | |||
| Family Composition | 2A+1C | |||
| Sum Insured | 3,00,00,000 | |||
| Policy Type | Floater | Individual | Ratio | |
| Age of the members insured | Consolidated Premium for all members of the family | Premium | Consolidated Premium for all members of the family | |
| 18 |
34,789 |
15,472 |
54,560 |
64% |
| 38 | 19,544 | |||
| 43 | 19,544 | |||
Premium Illustration representing how the prices would vary for different family composition according to different age groups and policy types is mentioned below.
Note: Premium figures are for Digit Health Care Plus Policy (UIN: GODHLIP21486V022021) containing features which are typically opted for by our website customers. Premium rates specified in the below illustration shall be standard premium rates without considering any loading. Also, the premium rates shall be exclusive of taxes applicable.
| Plan Name | Double Wallet Plan | ||||
| Family Composition | 2A+2C | ||||
| Age of the members insured | 51 | 48 | 22 | 18 | Remarks |
| Coverage opted on Individual basis covering each member of the family separately (at a single point in time) | |||||
| Premium (separate policies for each member) |
8,162 |
7,014 |
3,268 |
3,268 |
Total premium for all members of the familyi s Rs. 21,713, when each member is covered separately. Sum Insured available for each individual is Rs. 5,00,000 |
| Coverage opted on Individual basis covering multiple members of the family under a single policy (Sum Insured is available for each member of the family) | |||||
| Premium (after 10% discount - 1 family policy with seprate sum insured) |
7,346 |
6,313 |
2,941 |
2,941 |
Total premium for all members of the family is Rs. 19,541, when they are covered under a single policy. Sum Insured available for each family member is Rs. 5,00,000. |
| Coverage opted on family floater basis with overall Sum Insured (Only one sum insured is available for the entire family) | |||||
| Consolidated Premium (Family floater plan with shared sum insured) |
14,568 |
Total premium when policy is opted on floater basis is Rs. 14,568. Sum Insured of Rs.5,00,000 is available for the entire family |
|||
| Plan Name | Double Wallet Plan | ||
| Family Composition | 2A | ||
| Age of the members insured | 62 | 66 | Remarks |
| Coverage opted on Individual basis covering each member of the family separately (at a single point in time) | |||
| Premium (separate policies for each member) |
11,048 |
13,403 |
Total premium for all members of the familyi s Rs. 24,451, when each member is covered separately. Sum Insured available for each individual is Rs. 3,00,000 |
| Coverage opted on Individual basis covering multiple members of the family under a single policy (Sum Insured is available for each member of the family) | |||
| Premium (after 5% discount - 1 family policy with seprate sum insured) |
10,496 |
12,733 |
Total premium for all members of the family is Rs. 23,228, when they are covered under a single policy. Sum Insured available for each family member is Rs. 3,00,000. |
| Coverage opted on family floater basis with overall Sum Insured (Only one sum insured is available for the entire family) | |||
| Consolidated Premium (Family floater plan with shared sum insured) |
20,104 |
Total premium when policy is opted on floater basis is Rs. 20,104. Sum Insured of Rs.3,00,000 is available for the entire family |
|
8 Tips to Reduce Your Health Insurance Premium
Reducing your health insurance premium is about optimising some key factors, so you pay only for what you truly need. Here are the most effective ways to lower your premium without compromising protection:
Buy a Policy at a Young Age
One of the most effective ways to save on health insurance premiums is to opt for coverage at a younger age. Also, if you are purchasing the policy for your parents, make sure you do so before they turn 60, as the premium for health insurance for senior citizens is higher.
Choose Sum insured & Add-on Covers Wisely
Be careful while choosing your sum insured and add-on covers to ensure you are not paying more for your health insurance policy. Select a sum insured based on your city and medical costs. And choose only relevant add-ons based on your needs.
Prefer Family Floater Plans
Opting for a family floater plan instead of individual plans, where two or more people are covered under one plan, allows you to reduce its premium cost.
Opt for Deductibles/Co-payment
Opting for deductibles and co-payment allows you to reduce the premium on your insurance policy. Select this only if you can comfortably handle smaller medical expenses out of pocket.
Choose Top-up Plans
Instead of buying a very high base cover, a top-up plan offers extra coverage at a lower cost. Opt for a top-up on your insurance plan, which will come into effect when the base-sum insured is exhausted.
Purchase Directly from your Insurance Provider
Purchasing your insurance policy through a broker will make your insurance policy more expensive. This is because you will be liable to pay the charges for their service, as well. You can purchase the insurance policy directly from your insurance provider to avoid this.
Compare Plans Across Insurers
Premiums for the same profile can vary significantly across insurers due to different pricing models. Always compare multiple plans before buying to find the best value, not just the lowest price.
Choose Long-Term Policies
Insurers offer discounts for 2–3-year of policies compared to annual renewals. You must choose a longer tenure to reduce overall premium outflow.
The right premium is not the lowest cost, but the one that offers sufficient coverage for your expected healthcare expenses. As a practical approach, choose a plan where the premium remains affordable long-term while ensuring enough sum insured to cover treatment costs in your city.
Common Mistakes to Avoid When Choosing Health Insurance Premium
Choosing a health insurance premium based only on price can lead to poor coverage and higher costs later. Here are the most common mistakes to avoid and what you should do instead:
Choosing the Lowest Premium Without Checking Coverage
One of the most common mistakes is selecting a plan just because it has the lowest premium. While it may seem like a smart way to save money, such plans often come with limited coverage, higher restrictions, or lower sum insured.
What to do: Focus on high coverage and benefits, not just price.
Opting for Inadequate Sum Insured
To reduce premium costs, many people choose a lower sum insured. However, rising healthcare costs can lead to significant out-of-pocket expenses during claims.
What to do: Choose coverage based on real hospital costs, not just affordability.
Ignoring Deductibles and Co-payment Clauses
Plans with lower premiums often include higher deductibles or co-payment clauses, which means you will have to bear a portion of the treatment cost yourself. Many buyers overlook this and only realise it during a claim.
What to do: Always check how much you’ll need to pay during a claim, not just the premium.
Adding Too Many Unnecessary Add-ons
While add-ons enhance your policy coverage, choosing all available riders can significantly increase your premium without adding proportional value.
What to do: Pick only relevant add-ons that match your health needs.
Not Comparing Plans Across Insurers
Many people finalise a plan without comparing options from different insurers. However, premiums for similar coverage can vary widely due to differences in pricing models and underwriting practices.
What to do: Compare multiple plans to find the best balance between cost and benefits.
Ignoring Your Life Stage and Future Needs
A plan that fits your needs today may not be adequate in the future as your responsibilities grow (e.g., marriage, children, ageing parents).
What to do: Choose a plan that fits your current and future needs, not just present affordability.
Not Understanding Policy Terms and Waiting Periods
Focusing only on premium without checking waiting periods, exclusions, and claim conditions can create issues during claims.
What to do: Review policy details carefully, not just the price.
What Are the Tax Benefits on Health Insurance Premium Under Section 80D?
Under Section 80D of the Income Tax Act, you can claim deductions on health insurance premiums for yourself and your family, but this benefit is available only if you opt for the Old Tax Regime. Here is how much tax you can save:
Calculating your health insurance premium online helps you understand the cost of coverage before you buy, so you can make informed decisions with clarity. Instead of relying on generic prices, a premium calculator gives you a personalised estimate based on your age, city, coverage, and health profile.
By understanding the factors that affect premiums, the details required, and the common mistakes to avoid, you can choose a plan that balances affordability and adequate protection.
FAQs about Health Insurance Premium Calculator
Why should I use an online premium calculator before buying a policy?
A health insurance premium calculator helps you estimate your premium instantly based on your age, city, sum insured, and lifestyle. It allows you to compare plans, adjust coverage, and make informed decisions without manual calculations or contacting insurers.
What information should I provide to use a health insurance premium calculator?
Relevant information may include age, gender, smoking and drinking habits, amount of coverage, type of policy coverage, add-ons, and family (if applicable). All this information helps the calculator develop an applicable estimated premium amount.
How accurate is a health insurance premium calculator?
A premium calculator gives a close estimate based on your inputs, but the final premium may vary after underwriting. The changes in premium can occur due to detailed medical checks, add-ons selected, or insurer-specific pricing rules.
Does my health condition or family medical history affect my premium estimate?
Yes, pre-existing conditions and family medical history can impact your premium. Insurers assess your health risk while pricing the policy, and higher risk may lead to higher premiums, waiting periods, or specific exclusions.
Does the premium for health insurance policies vary from one insurance provider to another?
Yes, the premiums paid for health insurance policies vary from one insurance company to another. Every company has a different product and underwriting, which ultimately increases or decreases the cost.
What is the cost of the premium for a health insurance of ₹10 lakh?
The premium you can expect for a ₹10 lakh cover at the age of 30 for a non-smoker would generally be in the range of ₹6,000–₹8,000 every year, based on the insurer, add-ons, and your medical history.
Is there any option for getting a refund on the premium paid?
Yes, you can get a refund if you cancel the policy during the free-look period (usually 15 days or 30 days), subject to deductions. After this period, refunds depend on policy terms and whether any claims have been made.
Does my city affect health insurance premium calculations?
Yes, your city plays an important role in premium calculations. Healthcare costs are higher in metro cities like Mumbai, Delhi, and Bangalore, which leads to higher premiums. Insurers price policies based on hospitalisation costs, medical inflation, and treatment expenses in your location.
How do add-ons affect my health insurance premium?
Add-ons or riders like room rent waiver, critical illness cover, or zero deduction benefits increase your premium because they enhance your coverage. The more add-ons you choose, the higher your premium, but they can reduce your out-of-pocket costs during claims.
Does choosing a plan with shorter waiting periods increase premium?
Yes, plans with shorter waiting periods often have slightly higher premiums because they allow you to claim benefits earlier. Insurers charge more as they take on higher risk by reducing the time before certain illnesses or conditions are covered.
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