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How to Calculate Health Insurance Premium Using Mediclaim Policy Premium Calculator?

By Juhi Walia
26 September 2022, 4:22 PM

health insurance policy is an ideal way to keep yourself secured during medical emergencies as it covers the cost of treatment up to the amount you choose while buying the same. Medical expenses are increasing rapidly with the current scenario, making it hard for most to get the best treatment for themselves or their loved ones. To keep yourself covered during unforeseen medical emergencies, the best way out is to buy a mediclaim or a health insurance policy. In addition, you could take help from an online health insurance premium calculator to opt for the most suitable mediclaim coverage. The calculator helps you select the right plan with an affordable premium by entering a few details. Given the complexities involved, we will first talk about the types of mediclaim policies before taking you through to the function of the calculator
 Read on to learn more about the different types of Mediclaim policies available:

Types of Mediclaim Policies in India

Mediclaim policies in India are classified under two categories –

  • Individual mediclaim policy and family-floater mediclaim policy. In an individual mediclaim policy, only one insured individual will be insured against financial liabilities in case of medical emergencies.
  • In a family-floater mediclaim policy, the entire family of the applicant will get coverage during medical emergencies as this policy provides coverage for self, dependent children, spouse, and dependent parents as well.

All You Need to Know About Mediclaim Policy Premium

It’s no longer unknown that hospital expenses are extremely high during medical emergencies. A mediclaim policy will help you stay financially secure during such situations. A mediclaim policy premium is basically the amount you pay to the insurance company to get medical coverage later on. You can use a mediclaim policy premium calculator to calculate the premium for your mediclaim policy. By calculating this beforehand, you can get the best deal at an affordable rate. 

Importance of a Mediclaim Policy Premium Calculator

Mediclaim is a big expense that is also necessary for utmost safety during medical emergencies. As an applicant, it’s better to know all about mediclaim policies before you opt for one. With the use of a mediclaim policy premium calculator, you can easily select the best option that meets all your needs. Here’s why the calculator is very helpful:

  1. By using this calculator, you get an idea of the various players present in the market along with the products.
  2. The whole process of buying mediclaim gets a lot easier after you use a mediclaim policy premium calculator.
  3. It comes with a value-of-money option that gives you an idea of the various plans you are searching for.
  4. A mediclaim policy premium calculator offers you quick and 100% accurate results.

Benefits of Using a Mediclaim Policy Premium Calculator

Listed below are some of the top benefits of using the mediclaim policy premium calculator –

  1. With the help of the calculator, you get an accurate estimation of the premium of the mediclaim policy before you buy the policy.
  2. You get to make wise and well-informed decisions regarding your mediclaim policy in less time because you don’t spend hours talking to insurance agents in person.
  3. A mediclaim policy premium calculator compares health insurance plans for you so that you can easily choose a plan that works for you and lives up to all your expectations.
  4. The calculator is a hassle-free tool that shows results in seconds and doesn’t require any paperwork.
  5. It only asks for some basic details before showing your results. This tool makes calculating mediclaim premium very simple and quick.

Step to Calculate Health Insurance Premium Using Mediclaim Policy Premium Calculator

To use a mediclaim policy premium calculator, all you have to do is fill up some details. Based on your information, you will get an estimate of the mediclaim policy premium. Given below is a step-by-step guide on how you can calculate health insurance premiums using the mediclaim policy premium calculator:

  • Step-1: Log on to the official website of Paytm Insurance and pick the mediclaim insurance option you want to opt for. You will get two options - an individual mediclaim policy and a family-floater mediclaim policy.
  • Step-2: Click on 'self' if you want to buy an individual policy. For a family floater policy, click on your family members besides you.
  • Step-3: Once you decide on the policy you want, click on 'proceed'.
  • Step-4: You need to enter some details related to age, area PIN code, etc.
  • Step-5: Based on the same, different quotes will appear.
  • Step-6: Choose the best quote and pay the premium to buy the policy.


With the skyrocketing healthcare expenses, it will not be surprising if sudden medical emergencies leave a hole in your pockets. Taking care of this beforehand is always a wise decision. The number of diseases is rising, just like the expenses in healthcare. In this situation, a mediclaim policy is the best measure you can take. To get mediclaim policies at affordable rates, it’s better to buy online. On Paytm Insurance, you can get comprehensive online health insurance plans at very reasonable prices.

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1. Is it worth buying medical insurance?

The price of healthcare is increasing in India constantly, and just like that, the number of diseases is rising too. This is why buying medical insurance is a necessity in today’s age. Investing in medical insurance will give you financial backup during medical emergencies. Uncertainties and health risks are a part of life, and it’s always better to be prepared for such situations.

2. How much mediclaim do I need?

Experts recommend having coverage of 50% of your total annual income for your mediclaim. For instance, if your total annual income is INR 16 lakhs, it’s wise to opt for a mediclaim policy worth INR 8 lakhs. But what also matters is the healthcare inflation that rises by 10-15% on average. So, factor in this point too. So, use the mediclaim policy premium calculator to find the best coverage available.

3. Does Mediclaim cover death?

No, the mediclaim policy or any other health insurance policy in India does not cover the death of the person insured, meaning that no death benefit will be provided to the family of the insured person in case of their death.

4. Which adults are eligible for a mediclaim policy?

Individuals aged between 18 to 65 years are eligible for the Mediclaim policy. Children below the age of 18 may get coverage under the policy bought by their parents. As an applicant, you can also get coverage for your family.

5. Is it safe to buy mediclaim online?

Yes, buying a mediclaim policy online is completely safe, and the procedure is very simple as well. On the websites of reputed and trustworthy insurance companies like Paytm Insurance, you also get access to a mediclaim policy premium calculator to pick the right plan.

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