Mediclaim premium is the sum paid by an insured to the health insurance company for a particular time span. This amount is to be paid again at the time of renewal and it may vary from company to company like the coverage limit. Thus, it is recommended to compare quotes to learn about facilities and benefits offered under different plans by different medical insurance companies before making a selection.
Conventionally, the Mediclaim premium was calculated by an insurance agent according to the customer's requirement. Nowadays, for the ease of clients, a premium comparative chart is provided by various sites. It gives direct knowledge of the premium associated with different insurance plans. On other hand, some insurance sites provide an option of premium calculator, which helps customers to calculate their premium themselves.
We at Apollo Munich Health Insurance Company (the tie-up between the Apollo Group of Hospitals, Asia's largest healthcare group and Munich Health, part of Munich Re, Europe's largest insurer and re-insurer) give the link of premium calculator no its website. The online means of premium calculation has proved to be beneficial for both the company and customers.
The Mediclaim premium depends upon clients' health, plan opted for, candidate's age and coverage limit.
Premium amount takes the below mentioned points into consideration:
Cost of advertising
Margin in profit
Cost of selling
Investment of premium amount
Cost of services rendered by healthcare practitioners
Administration of insurance programs
Look into your needs, compare the quotes, calculate the premium amount and learn about tax implication and claim procedures before making your final choice.
The amount of mediclaim premium may vary state-wise, as per the norms of a company.