ICICI Lombard Health Insurance Premium Calculator

The critical features of ICICI Lombard Health Insurance Premium Calculator are as follows:

• Instant Premium Estimation: The ICICI Lombard Premium Calculator offers a seamless solution to the tedious task of calculating medical insurance premiums. By entering a few basic details, users can easily obtain an estimated premium amount.
• Convenience: By eliminating the need for extensive consultation with insurance advisors, the ICICI Lombard Premium Calculator offers convenience and puts decision-making power directly into the hands of users. You can conveniently browse various coverage options, assess premiums, and make decisions from the comfort of your home.
• Policy Recommendations: ICICI Lombard Premium Calculator provides valuable insights by suggesting suitable health insurance plans based on the user's input. This will help you make informed decisions and will help you choose the most appropriate health insurance policy to meet your specific needs and requirements.
• Customisable Parameters: With the ICICI Lombard Premium Calculator, users enjoy high flexibility. They can adjust various parameters within the calculator to find the optimal balance between the sum insured and the premium amount.
• Transparent Filtering: The ICICI Lombard Premium Calculator will allow you to filter and shortlist premium quotes based on your preferences. This transparency will enable you to compare different options effectively and it will moreover facilitate clear decision-making.

The premium of your ICICI Lombard health insurance policy is affected by a list of factors that are mentioned below:

• Age: Younger individuals generally pay lower premiums in comparison to older individuals since they are less likely to require extensive medical care.
• Health Status: An individual's current health condition, medical history, pre-existing conditions, and overall health status can impact the amount of medical insurance premiums. People with better health may receive lower premiums.
• Geographical Area: Health insurance premiums may vary based on the region or city where the insured person resides. This is due to differences in healthcare costs and infrastructure.
• Family Size: The number of individuals covered under a health insurance policy can significantly impact the premium. Generally, insuring a larger family will result in a higher premium due to the increased risk of potential claims.
• Sum Insured: The sum insured refers to the maximum amount the insurance company will pay for covered medical expenses during the policy period. The higher the sum insured, the greater the coverage, and consequently, the premium will be higher.
• Add-ons Opted: Add-ons, also known as riders, provide additional coverage beyond your standard policy features. These could include benefits like maternity coverage, critical illness cover, daily cash allowance, etc. Opting for add-ons enhances your coverage but adds to the premium cost.
• Policy Type (Fresh or Port): When purchasing a new health insurance policy, ICICI Lombard may offer discounts. On the other hand, if you're porting your existing policy from another insurer to ICICI Lombard, the premium may be higher.
• Tenure Opted: The policy tenure refers to the duration for which the health insurance coverage is valid. Typically, longer policy tenures attract slightly lower premiums on an annual basis in comparison to policies with shorter tenures.

NOTE: These are just a few of the many factors that affect the health insurance premium calculation.

Following are the different types of premium calculation methodologies:

• Base Premium: Your health insurance premium is calculated using the base premium as a starting point. The base premium of your ICICI Lombard health policy depends on a number of variables, including your age, policy duration, sum insured, and the kind of coverage you choose. Generally, younger individuals with lower sum insured will have lower base premiums compared to older individuals or those opting for higher coverage amounts.
• Loading Factors: Loading factors are additional charges applied to your base premium based on certain risk factors. These factors include your medical history, pre-existing conditions, riders or add-ons, lifestyle habits (such as smoking or drinking), occupation, and geographic location. If you have a pre-existing condition, you will face higher loading charges, leading to a higher overall premium.
• Discounts: ICICI Lombard offers discounts to policyholders to make their health insurance more affordable. These discounts could be based on various criteria such as purchasing a policy for a longer duration, insuring multiple family members under one policy, maintaining a healthy lifestyle, etc.

The process to use the ICICI Lombard health insurance premium calculator is as follows:

Step 1: Go to the official InsuranceDekho website and click on “Health Insurance”.

Step 2: On the next page, enter the required details i.e. Name and Mobile Number, and hit the “View Plans” button.

Step 3: In the pop-up, input necessary details like family size, Pincode, Pre-existing diseases, etc. and click on the “View Plans” button again.

Step 4: Now, use the filters above to customise your search and you can then see the final premium amount of the specific health insurance plan of your choice.

The health insurance premium chart helps you gain an understanding of the health insurance premium rate for people of different age groups. The table below is crafted by taking Rs.5 lakhs as the sum insured and 1 year as policy tenure. Also, please note that the rates included are mentioned in Rs. and are exclusive of GST.

Premium Chart For Ages: 26-35 Years

Premium Chart For Ages: 36-40 Years

In both these tables,

2A = 2 Adults

2A+1K = 2 Adults and 1 Kid

2A+2K = 2 Adults and 2 Kids

2A+3K = 2 Adults and 3 Kids

Q1. What is the ICICI Lombard Premium Calculator?

Ans. The ICICI Lombard Premium Calculator is a tool designed to estimate the premium that you need to pay for your health insurance policy.

Q2. What features does the ICICI Lombard Premium Calculator offer?

Ans. The calculator provides instant premium estimation, convenience, policy recommendations, and transparent filtering of premium quotes.

Q3. Is the ICICI Lombard Premium Calculator accessible only through InsuranceDekho's website?

Ans. Yes, the premium calculator is accessible through InsuranceDekho's official website, where you can enter details and view the premium estimation of your ICICI health insurance policy conveniently.

Q 4. What factors affect premium calculation in ICICI Lombard health insurance policies?

Ans. The factors that affect the premium of ICICI Lombard health insurance policies include age, health status, geographical area, family size, sum insured, add-ons opted, etc.

Q5. What does the ICICI Lombard Health Insurance Premium Chart depict?

Ans. The premium chart illustrates health insurance premium rates for different age groups, along with various plan options and coverage combinations.