*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
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Star health insurance premium calculator is an online tool that helps to calculate the premium of a Star health insurance policy. It allows customers to find the best health insurance plan as per their needs after assessing the premiums of different plans. Customers only need to fill in the required information, such as the sum insured, age of the insured, etc. and get the premium for different health plans in a few seconds.
Follow the steps given below to calculate the premium of a Star health insurance policy:
The premium calculator will determine the premium for various Star health insurance plans and display them.
Star Health Insurance premium chart contains different premium rates of the plans provided by Star Health & Allied Insurance Company. The chart mentions the cost of a policy as per various parameters, i.e. the age of the insured, tenure of the health plan, and the policy sum insured. Customers can download Star health plan brochures and policy wordings and check the premium charts.
Here are the benefits of using a Star health insurance premium calculator:
Star health insurance premium is determined with the help of the following factors. Take a look:
The Medical history of a customer is taken into consideration while determining Star health insurance premium. A person with a pre-existing disease will have to pay a higher premium as compared to a physically fit person. Most plans require applicants above 45 years to undergo a medical exam before buying the policy. On the other hand, several plans consider the current health condition, family health background, and lifestyle-related habits to determine the premium.
Age is an important factor while calculating Star health insurance premium. The premium increases with an increase in the age of the insured. At a higher age, people are more prone to critical illnesses, such as cardiovascular diseases, kidney disorders, etc. As a result, insurers usually charge a higher premium to older people.
The gender of the customer is also considered while calculating the premium. The premiums for female candidates are lower as compared to the male candidates due to a lower risk of heart attack, stroke, etc.
The longer is the Star health insurance policy tenure, the higher is the premium. For instance, the premium for a one-year Star health insurance plan will be lower than a 2-year plan. However, the insurer provides a discount to people opting for a policy tenure of more than 1 year.
No Claim Bonus is the discount that policyholders get on their renewal insurance premium if they haven’t raised a claim in the previous policy year. Thus, if a person has NCB, the insurance premium will be lower.
If you are a smoker or drink regularly, the chances are that you will be paying a higher premium. This is because such people are more likely to raise a claim than those who neither drink nor smoke.
Star health insurance premium is eligible for tax-saving benefits as per the Income Tax Act. As per Section 80D, the premium paid towards buying or renewing medical insurance qualifies for tax deductions u/s 80D of the Income Tax Act. It is applicable for anyone paying the health insurance premium for themselves, their children, spouse, and parents, irrespective of the dependency. Take a look at the latest tax exemption slabs for medical insurance below:
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