Bajaj Allianz Health Insurance Family Floater Premium Calculator
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Reviewed by Calculator Editorial Team
This calculator helps you estimate the premium for Bajaj Allianz Health Insurance Family Floater plans. Family floater plans provide comprehensive coverage for multiple family members under a single policy, offering cost savings compared to individual policies.
How to Use This Calculator
To calculate your family floater premium:
- Select your age group from the dropdown menu
- Choose the number of family members covered
- Select your preferred plan type (Basic, Premium, or Elite)
- Click "Calculate Premium" to see your estimated monthly premium
The calculator uses standard Bajaj Allianz pricing models and provides an estimate. Actual premiums may vary based on your specific health profile and underwriting.
Formula Used
The estimated premium is calculated using the following formula:
Estimated Premium = (Base Rate × Age Factor × Family Size Factor × Plan Factor) × 1.18 (GST)
Where:
- Base Rate is the standard premium for a single adult in the 25-35 age group
- Age Factor adjusts the rate based on the age group of the primary policyholder
- Family Size Factor accounts for the number of family members covered
- Plan Factor adjusts for the selected plan type (Basic, Premium, or Elite)
- 1.18 is the GST component added to the base calculation
Worked Example
Let's calculate the premium for a family with 4 members (2 adults and 2 children) in the 25-35 age group with the Premium plan:
Estimated Premium = (₹1,200 × 1.0 × 1.2 × 1.5) × 1.18
= (₹1,200 × 1.8) × 1.18
= ₹2,160 × 1.18
= ₹2,539.20
So the estimated monthly premium would be approximately ₹2,539.
Plan Comparison
Compare the different Bajaj Allianz Family Floater plans:
| Plan Type | Coverage | Network Hospitals | Pre-existing Conditions | Waiting Period |
|---|---|---|---|---|
| Basic | ₹300,000 | 1,500+ | Not covered | 30 days |
| Premium | ₹500,000 | 2,500+ | Covered after 6 months | 15 days |
| Elite | ₹1,000,000 | 3,500+ | Covered immediately | 0 days |
The Elite plan offers the most comprehensive coverage but has the highest premium. Choose based on your family's healthcare needs and budget.
Frequently Asked Questions
- What is a family floater health insurance plan?
- A family floater plan provides comprehensive health insurance coverage for multiple family members under a single policy. It offers cost savings compared to individual policies and ensures that any family member can claim benefits without additional premiums.
- How does the age of family members affect the premium?
- The premium is primarily based on the age of the primary policyholder. Younger age groups generally have lower premiums. The ages of other family members are considered when calculating the family size factor.
- Are pre-existing conditions covered in all plans?
- Coverage for pre-existing conditions varies by plan. The Basic plan typically does not cover pre-existing conditions, while the Premium and Elite plans offer coverage with different waiting periods.
- Can I add more family members later?
- Yes, you can add more family members to your existing policy, but this may require additional underwriting and could affect your premium. It's best to include all family members at the time of purchase for the most accurate quote.
- Is there a waiting period for hospitalizations?
- The waiting period varies by plan. The Basic plan has a 30-day waiting period, the Premium plan has a 15-day waiting period, and the Elite plan has no waiting period for hospitalizations.