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Star Health Insurance Premium Calculator
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Star Health Insurance Premium Calculator

Star Health Insurance Premium Calculator helps a customer to compute the premium amount for a range of its health insurance plans. For calculating, one must provide necessary details such as age, name, the sum assured, and other details as asked by the calculator. The calculator finds the annual premium amount of a plan that one wants to buy. There are also options available to calculate the premium annually or monthly basis.

What’s the Star Health Insurance Premium Calculator?

Star Health Insurance Premium Calculator is an online premium computation tool that facilitates customers in zeroing on a particular plan after calculation of the premium amount that needs to be paid for the Star Health insurance plan.

The calculator will compute the basic premium to be paid based on the user's entry details. One thing that must be noted here is that the sum insured and the number of members to be mentioned in the calculator must be exact and not approximate. Approximate information will give a rough premium amount, and it will vary greatly when one pays the actual premium to Star Health Insurer.

Details Required for Star Health Insurance Premium Calculation

To calculate the best estimate of the premium amount with efficiency, the Star Health Insurance Premium Calculator requires some simple details. The details required are:

  1. Email ID
  2. Sum Insured
  3. Number of members included in the plan
  4. Date of Birth for determining the age of the customer
  5. Location

Before choosing a Star Health Insurance policy, one must predetermine the premium amount to be paid for every insurance policy. It is a bothersome and difficult task to check every plan and calculate its premium amount. The Star Health Insurance Premium Calculator can simplify this task.

Factors Affecting Star Health Premium Amount

A premium amount is a very important thing that needs to be considered before buying an insurance plan. Various factors determine this amount. The factors that affect the premium of State Health Insurance plans are:

  1. Pre-existing illness
  2. Family members included
  3. Gender
  4. Age
  5. Sum Assured
  6. Lifestyle

Pre Existing Illness

Customers with pre-existing medical illness need to pay a higher premium amount as they have a higher chance of claiming the policy as compared to a person with no medical history of pre-existing illness.

Family Members Covered

Although an individual health plan is cheaper than a family health insurance plan, for those who want to cover for the whole family, the family floater plan is more cost-effective when compared to the single individual plan. Before buying a policy, a detailed analysis must be done according to the needs of the family.

Gender

Gender is an important factor in a health insurance plan. Unlike life insurance plans, females get a higher premium rate compared to males in case of health insurance plans.

Age

The customer's age plays a key role in deciding the premiums in a health insurance plan. An older person is more likely to get ill.

Sum Insured

This is the most important factor in deciding the premium amount. Higher the sum assured, the higher the premiums. 

Smoker/Non-smoker Lifestyle

A non-smoker has fewer chances of contracting a disease than a smoker; thus, it reduces the scope of a claim. So, non-smokers get lower premium rates.

Steps of Using Health Insurance Premium Calculator

Star health insurance premiums can be calculated through aggregator websites such as Paisawiki.com as well. It is an easy way to get the exact amount to be paid. Here is a step-by-step guide for using the health insurance premium calculator of Paisawiki. The steps are given below, which will help in using the calculator effectively. The simplistic way to use the tool helps people calculate the premium efficiently.

  • For using the calculator, one must visit the official website of Paisawiki.com.
  • Select the plan one wants to buy & click on 'calculate the premium.'
  • On clicking the 'calculate the premium' option, the person will be redirected to another page where the details need to be entered.
  • Input the details like date of birth, the sum insured, etc.
  • Click on 'Calculate the premium details.'
  • The premium value will be calculated.

Important Aspects

When using the premium calculator, it is advised to pay attention to some details in mind to avoid problems later. They are:

  • It is essential to provide exact information to get the closest approximate premium.
  • While calculating the premium, it is advisable to use different parameters, especially checking for the different amount of sum insured.
  • The values calculated are approximate.

The final value can be different as it is calculated after analyzing the risks by the policyholder.

Advantages of Using Star Health Insurance Premium Calculator

Some of the advantages of using a premium calculator are: 

  • The Star Health Insurance Premium Calculator is a very important tool that helps a policyholder approximate the premium amount for a plan before buying it. This helps the policyholder to check whether a particular plan is affordable or not. It helps a person in financial planning.
  • The premium calculator not only computes the premium amount but also compares different plans. Hence, the customer has a chance to check all the available plans which lie in his or her budget & meets the necessary conditions.
  • The premium calculator helps a policyholder know whether an add-on rider or additional benefit can be availed or not under a particular premium.
  • It can help in customizing a plan by excluding or including riders according to the premium amount paid.

FAQs

Written By: Paisawiki - Updated: 22 September 2020

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