CalcHealth Insurance Sum Insured & Premium Calculator
Determine the ideal health insurance coverage (sum insured) you need and estimate annual premium costs based on family structure and city tier in India.
Recommended Health Coverage
Formula & Calculation
Estimated Premium = Base Rate * Sum Insured Factor * Family Multiplier * City Tier Factor * 18% GST- Base Rate: Age-specific pricing per ₹5 Lakh sum insured.
- 18% GST: Standard healthcare insurance tax.
How to Use
- Select your family floater structure (Self, Spouse, Children, Parents).
- Provide the age of the eldest family member.
- Select the resident city tier to determine recommended sum insured.
- Toggle pre-existing disease loading checklist to view recommended coverage and premium quotes.
Frequently Asked Questions
How much health insurance coverage do I need in India?
For metro cities (Tier 1), a minimum coverage of ₹10 Lakhs is recommended for individuals, and ₹15 Lakhs to ₹20 Lakhs for families due to rising medical inflation.
What is a family floater health plan?
A family floater is a single policy that covers the entire family under a shared sum insured, which is usually cheaper than buying individual policies for each member.
How does city tier affect health insurance premiums?
Medical costs vary by city. Insurance companies divide cities into zones (Tiers); Tier 1 metros have higher treatment costs and therefore attract higher premiums.
What is tax benefit under Section 80D for health insurance?
You can claim deductions up to ₹25,000 for premiums paid for self/family, and an additional ₹25,000 (or ₹50,000 if senior citizens) for parents' premiums.
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