A Mediclaim policy premium calculator is a tool that helps you to calculate the premium before buying a policy. It is developed by various insurance providers to ease the process of calculating the premium, depending on various needs and requirements of the individual. It eliminates the various time taking processes that are involved in the traditional process of buying a policy. The various hidden charges applied by the policy agents are also eliminated.
Features and Benefits of a Mediclaim Policy Premium Calculator:
- Saves Time: Various steps involved in the offline process are time taking, such as visiting the insurer’s office, scheduling a meeting with an agent, etc. The people with a hectic lifestyle in metro cities do not want that. A premium calculator eliminates all those unnecessary steps.
- Ease of use: A Mediclaim policy premium calculator is very easy to use. All you need is an internet connection and the browser of your computer or smartphone, fill in the required details, and just like that the premium is calculated.
- No Hidden charges: The hidden charges that were taken by the agents are eliminated. The premium calculated is what you have to pay for the policy selected.
- Modifications: When calculating the premium, an individual can modify any details, any number of times. There is no restriction on the modification of details while calculating the premium.
- Add-ons: You can opt for various add-ons such as maternity benefits, etc. when calculating the premium of the mediclaim policy as per your needs and requirements.
- No time limit boundations: There is no time limit when calculating the premium. You are under no pressure in buying the policy at the same time. You can buy the policy, whenever it is suitable for you.
Care Insurance, one of the best insurance providers in India, provides a sophisticated and easy-to-use policy premium calculator.
Factors affecting the Mediclaim Premium Calculation:
1.The coverage amount you selected. The larger the coverage amount, the greater will be the price of the mediclaim policy.
2.Whether you opted for add-ons. The number of add-ons selected and the issue it covers will decide its effect on the premium of the policy.
3.The age of the person to be insured. As the age increases, the risk of developing health-related issues also increases, and so does the premium.
4.The term plan of the policy. The insurance companies are willing to pay a discount o the policies with the long-term plan. If a person is financially stable, he should opt for a policy with long-term.
5.The insurance companies provide a no-claim bonus to individuals who haven’t claimed any amount during their previous policy duration. If you are eligible, the premium will decrease.
All the information given above is to provide you with important things to be kept in mind. Ultimately, it will be the needs and requirements of the individual at the time of buying the policy that will decide the actual premium calculated.
