Icici Health Insurance Premium Calculator
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Reviewed by Calculator Editorial Team
Health insurance premiums can vary significantly based on factors like age, coverage amount, and plan type. ICICI Lombard offers several health insurance plans with different premium structures. This calculator helps you estimate your monthly premium based on your specific needs.
How to Use This Calculator
To get an accurate estimate of your ICICI Health Insurance premium:
- Enter your age in years
- Select your gender
- Choose the sum insured amount (coverage)
- Select your plan type (Basic, Standard, or Premium)
- Click "Calculate Premium" to see your estimated monthly premium
The calculator uses standard health insurance pricing formulas adjusted for ICICI Lombard's specific pricing structure. The results are estimates and may vary based on underwriting decisions.
Formula Used
The estimated premium is calculated using the following formula:
Where:
- Sum Insured is the coverage amount you select
- Age Factor is based on your age group (younger ages have lower factors)
- Gender Factor accounts for gender-specific pricing (typically lower for females)
- Plan Factor adjusts for the selected plan type
- The result is divided by 12 to get the monthly premium
Note: This is a simplified formula. Actual premiums may vary based on additional factors like health status, location, and specific plan features.
Worked Example
Let's calculate the premium for a 35-year-old male with a sum insured of ₹5,00,000 and the Standard plan:
- Age Factor for 35: 1.2
- Gender Factor for Male: 1.1
- Plan Factor for Standard: 1.5
- Calculation: (5,00,000 × 1.2 × 1.1 × 1.5) / 12 = ₹66,000 / 12 = ₹5,500 per month
This is an estimated monthly premium. The actual premium may differ based on underwriting.
Frequently Asked Questions
How accurate are the premium estimates?
The calculator provides estimates based on standard pricing formulas. Actual premiums may vary based on underwriting decisions and additional factors not included in the calculation.
What factors affect the premium?
Premiums are influenced by age, gender, sum insured, plan type, and sometimes health status. Smokers may pay higher premiums in some plans.
Can I get a discount on my premium?
Yes, discounts may be available for health check-ups, family floater plans, or loyalty programs. Contact ICICI Lombard for specific discount options.