Hdfc Ergo Family Floater Health Insurance Premium Calculator
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Reviewed by Calculator Editorial Team
This HDFC Ergo Family Floater Health Insurance Premium Calculator helps you estimate the monthly premium for a family health insurance plan. Simply input your family details and coverage preferences to get an accurate quote.
How to Use This Calculator
Using our HDFC Ergo Family Floater Health Insurance Premium Calculator is simple:
- Enter the number of adults and children in your family
- Select the sum insured amount for each member
- Choose the policy term (1-3 years)
- Click "Calculate" to see your estimated premium
The calculator provides an estimate based on HDFC Ergo's standard family floater health insurance rates. For an exact quote, please contact HDFC Ergo directly.
Formula Used
The estimated premium is calculated using the following formula:
Estimated Premium = (Sum Insured × Age Factor × Family Size Factor × Policy Term Factor) / 12
Where:
- Sum Insured = Total sum insured for all family members
- Age Factor = Average age factor based on family members' ages
- Family Size Factor = Adjustment factor based on number of family members
- Policy Term Factor = Adjustment factor based on policy duration
Note: This is an estimate only. Actual premium may vary based on specific health conditions, underwriting, and other factors.
Worked Example
Let's calculate the premium for a family with:
- 2 adults (ages 35 and 40)
- 2 children (ages 10 and 8)
- Sum insured: ₹5,00,000 per adult, ₹2,50,000 per child
- Policy term: 2 years
Total sum insured = (2 × ₹5,00,000) + (2 × ₹2,50,000) = ₹12,50,000
Average age factor = (35 + 40 + 10 + 8) / 4 = 22.5 → Age factor = 1.2
Family size factor = 1.5 (for 4 members)
Policy term factor = 1.1 (for 2 years)
Estimated Premium = (₹12,50,000 × 1.2 × 1.5 × 1.1) / 12 ≈ ₹18,750 per month
Frequently Asked Questions
What is a family floater health insurance policy?
A family floater policy provides coverage for all members of your family under a single policy. The sum insured is shared among all policyholders, which typically results in lower premiums compared to individual policies.
How is the sum insured calculated for children?
Children are typically covered under the same sum insured as adults, but some insurers offer lower sums for children. The calculator allows you to specify different sums for adults and children.
Can I add pre-existing conditions to the policy?
Most family floater policies do not cover pre-existing conditions. The calculator provides estimates for standard policies without pre-existing conditions.