Life is unpredictable, thus, diseases and illness can affect anyone without any notice. However, the expenses that go into the treatment can make a big hole in the pocket. To overcome such a situation, one needs a health insurance. A health cover cannot protect you from disease or illness, but it can help you to lighten the load of the financial inflation resulting from the treatment. There are many insurance providers in the market, and one name that stands out from other insurance provider is Religare.
Religare health insurance policy covers all charges from pre-hospitalization and post-hospitalization to medication and diagnostic charges. This health insurance policy covers the individual from various diseases and illness which is mostly seen in many people. The health insurance cover is initiated when the individual makes EMI payments for the same policy. A regular monthly premium payment allows you to gain financial assistance during your time of need. The insurer can choose the policy based on the benefits of the policy and the EMI payments that the insurer has to pay. When an insurer is buying a health insurance policy from Religare, he/she can calculate the EMI payment with the help of a premium calculator. Here is a detailed view of the Religare health insurance premium calculator.
Required Information to Calculate the Premium
The estimated premium is calculated with the help of an algorithm. The information that the calculator uses is an input from the users, and the estimate for the premium is shown to the user based on the input. The calculated premium updates in real-time based on the changing data which allows you to compare different premium rates for the same policy. Here is the information that is needed in the calculator to estimate the premium.
The health insurance policy by Religare is available to the users on both individual and family floater basis. The calculator accounts the family details in the estimated premium based on the family size and the number of children. The premium rates differ for each because of the different rules in the health insurance policy regarding children and spouse. The health insurance calculator doesn’t allow parents to be included in the health insurance plans along with children and spouse.
Age of the Eldest Member
A rule in the policy suggests that a self-sufficient male or a married female cannot be included in the policy. The age of the eldest member allows the calculator to judge the family dynamics. The age of the eldest member will be head of the family which will further declare the member, the source of income for the family.
The phone number will allow Religare to keep in touch with a potential prospect by introducing them with different schemes. The phone number collected by Religare can later be in the form during the purchase of the health insurance policy. The phone number can be later useful after the purchase of the policy when Religare has to notify about any due date or unpaid premium.
The insured sum will always be a “round figure,” and it has no variable input. The sum that is selected will then get divided with the tenure which will give an exact amount of payable premium per month. The insured amount will also allow users to explore the policies of health insurance which they want to read up on. The minimum amount that you can ensure is four lakhs, and the maximum amount that can be insured is 600 lakhs.
The policy tenure is fixed where there are three options for the insurer which are one year, two years, and three years. Each different tenure also has a discount rate which can be availed by the user. The different tenure period also changes the dynamic of the payable premium. The payable premium rate increases as the tenure increases but the offers are also available if the tenure period is longer.
The calculator asks for a few perks and add-ons for the policy which can change your payable premium rate. The calculator asks for an unlimited recharge for care which allows the user to renew the policy after the date comes due. Along with that, there is also a no claim bonus which enables the user to get a bonus for zero claims in a single policy year. Each add-on has their charge which is included in the payable premium.
Here are the requirements of a premium calculator which gives accurate results and also includes a GST of 18%. The calculator provides a direct option for the user to buy the policy after calculating the premium. The requirements mentioned above influence the payable premium greatly, and Religare allows its user to estimate the premium before purchasing the policy.
Q1. Does the Religare health insurance premium calculator account for GST during estimation?
Ans. Yes, the calculator includes the 18% GST charge on the estimated payable premium.
Q2. Can my parents be included in the health insurance policy on a family floater basis?
Ans. No, parents cannot include in a family floater based insurance plan, but there is no age limit to the policy which can make them eligible for individual floater health insurance policy.
Q3.What is the minimum and maximum amount that can be insured?
Ans. The minimum amount that you can insure is Rs 4 lakh, and the maximum amount that you can insure is Rs 600 lakh.
Q4. Does Religare use my phone to market their products?
Ans. Religare only market their products if you subscribe to their marketing channel. If you are subscribed by mistake, then you can easily unsubscribe.
Q4. How can I contact Religare to buy health insurance?
Ans. The policy buyer can call on the Religare health insurance customer care number, 1860-500-4488/ 1800-200-4488 and can even request a call back from Religare.