Tata AIG Health Insurance Premium Calculator
The past 18 months have served as a stark reminder that life is incredibly uncertain. Now, while there’s little we can do to curtail uncertainty, we can certainly be prepared for some situations. Being financially prepared for a health emergency is a good example of being geared to battle uncertainty. There’s no way of knowing for sure if and when and how a health emergency will strike and of course we must do our best to avoid it, but should it strike, at least the financial component of the issue is managed in advance – among all the things one has to juggle and stress about in a health emergency, the last thing one wants to be thinking about is finances.
Today’s health insurance buyers are well-informed and savvy. They conduct extensive research before hitting the buy button, just as you are doing right now as you read this article. As a result, they want to know upfront what their premium will be and what benefits or coverage they will get in exchange for what they are paying. They like to know their options and they like to compare rates.
Use the Tata AIG insurance calculator
You can calculate the premium on Tata AIG insurance policies anytime and anywhere, entirely free of cost, with zero hassle and minimal effort.
Use the IIFL online premium calculator to identify exactly what premium amount you will pay and the benefits that you can enjoy at that premium.
You can even toggle the list of benefits to adjust to a more comfortable premium or alternatively to a longer list of benefits.
Details required for Tata AIG insurance calculation
It is important to fill up all the details honestly and accurately. The insurance provider will verify all the information supplied by you before extending the policy to you and deciding on a premium amount. As a result, it is most advisable for you to offer an honest account in order for you to get a more accurate idea of the premium that you will need to pay eventually
These details include
- Basics like your location, postcode, and annual income
- More specific details like your age and the number of family members you intend to have covered by the insurance policy
- After this, you might need to provide more details like the health status of all family members to be covered by the policy. Remember to be honest.
The Tata AIG insurance calculator will now supply you with an approximate premium amount.
But why use the Tata AIG insurance calculator if the rate might change after the health status verification?
Benefits of Using the Tata AIG Health Insurance Premium Calculator
There are two very good reasons why – let’s explore the benefits of using a premium calculator.
- To get a vague idea and plan your finances accordingly
Online premium calculators, like the one on the IIFL website, are free of cost and easy to operate. The potential buyer gets an estimate of how much he or she needs to save up in order to purchase the policy. This can help them to plan their spending and saving and investing in such a way that they keep aside sufficient funds for their life insurance premium.
- Comparison and negotiation
Potential insurance policy buyers can compare the premiums and benefits being offered by various insurance companies on various websites to zero in on the best plan. They also have the option of using the premium offered by one insurer to get a better rate from a preferred insurer and so on.
What factors affect your insurance premium?
There might be moments where you wonder why your friend or colleague paid a lower (or higher) premium than you for the same sum assured. That’s because a whole variety of factors – including your lifestyle – stand to affect your health and correspondingly the possibility of you falling ill and making a claim.
These factors include:
- The sum assured
- Your age and the age of other individuals to be covered
- The type of plan and number of individuals covered. More individuals covered typically means a higher premium but offers better value than purchasing individual plans for each member
- Medical history and that of other individuals to be covered. Smokers, for example, tend to attract higher premiums than non-smokers
- Add ons if any
FAQs
Does the insurance premium calculator provide the exact amount of premium to be paid and if no, why not?
The insurance premium calculator gives you an estimate based on your answers. The final amount of the premium will be based on the actual results of medical tests. For a more accurate result, it would make sense to be honest with your responses.
Why did the premium calculator suggest a slightly higher amount when I added my children as members to be covered but a much higher amount when I added my parents?
That is because your parents represent a higher claim likelihood on account of their age and the higher risk of illness and hospitalization associated with their advanced age.
How can I apply for Tata AIG insurance?
Step 1- Visit https://products.iiflinsurance.com/mediclaim/input/
Step 2- Fill up the form with your mobile number
Step3- One of the IIFL representatives will get back to you to take you through an easy and hassle-free process.
My parents are covered by my father's employer's insurance policy - I only need one for myself. Is this an option?
Yes, of course. You simply need to choose "individual" on the form mentioned in the process described in the previous answer. However do check the sum assured and ensure that it is sufficient in case of hospitalisation.
My office is providing health insurance with a sum assured of Rs 1 lakh but I am being advised to add on health insurance of my own. Why is this so?
It depends, but some of the reasons could be:
The potential of claim settlement differs from one company to the next.
Rs 1 lakh might prove to be insufficient in some cases of hospitalization; Rs 5 lakh is seen as optimal or even higher depending on your age.
