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Apollo Munich Health Wallet Family Floater Premium Calculator

Reviewed by Calculator Editorial Team

The Apollo Munich Health Wallet Family Floater is a comprehensive health insurance plan designed to provide financial protection for families. This calculator helps you estimate the premium cost based on your family's needs and coverage requirements.

How Apollo Munich Health Wallet Family Floater Works

The Apollo Munich Health Wallet Family Floater is a type of health insurance that provides coverage for a family unit. It typically includes benefits such as:

  • Hospitalization and surgical expenses
  • Pre- and post-hospitalization expenses
  • Daycare procedures
  • Ambulance charges
  • Critical illness cover
  • Maternity benefits

The premium for this plan is calculated based on several factors including:

  • Number of family members covered
  • Age of the primary insured
  • Sum insured amount
  • Deductible amount
  • Optional add-ons and riders

Note: The actual premium may vary based on the insurer's underwriting process and may be subject to health underwriting in some cases.

Using the Calculator

To use the Apollo Munich Health Wallet Family Floater Premium Calculator:

  1. Enter the number of family members you want to cover
  2. Select the age of the primary insured member
  3. Choose the sum insured amount from the dropdown
  4. Select the deductible amount
  5. Check any optional add-ons you want to include
  6. Click "Calculate Premium" to see your estimated premium

The calculator will display the estimated monthly premium based on the inputs you provide. You can then compare different scenarios to find the best coverage option for your family.

Example Calculation

Let's look at an example to understand how the premium is calculated:

Suppose you have a family of 4 members (2 adults and 2 children) and you want to cover them under a sum insured of ₹5,00,000 with a deductible of ₹1,00,000. You also want to add maternity benefits and critical illness cover.

Using the calculator with these inputs, the estimated monthly premium might be around ₹12,500. This is based on the following factors:

  • Base premium for 4 members: ₹8,000
  • Sum insured adjustment: +₹2,500
  • Deductible adjustment: -₹1,000
  • Maternity benefits: +₹1,000
  • Critical illness cover: +₹1,000

Total estimated premium: ₹12,500 per month

Premium = (Base Premium × Number of Members) + (Sum Insured Adjustment) - (Deductible Adjustment) + (Add-ons)

Frequently Asked Questions

What is the difference between a family floater and individual health insurance?
A family floater provides coverage for all members of the family under a single policy, while individual health insurance requires separate policies for each family member. Family floaters typically offer better premium rates and more comprehensive coverage options.
How is the sum insured amount determined?
The sum insured amount is typically determined based on your family's financial needs and medical requirements. It represents the maximum amount the insurer will pay for covered medical expenses. Higher sum insured amounts generally result in higher premiums.
What are the common exclusions in health insurance policies?
Common exclusions include pre-existing conditions (unless specified otherwise), cosmetic surgeries, mental health treatments, and expenses incurred outside India. Always check the policy wordings for specific exclusions.
Can I change my sum insured amount after purchasing the policy?
Yes, most health insurance policies allow you to change your sum insured amount, but this may affect your premium. You can usually increase or decrease your sum insured during the renewal period.