Star Health Insurance Premium Calculator

Star Health Insurance Premium Calculator

Star health insurance premium calculator is an online tool that helps to calculate the premium of a Star health insurance policy. It allows customers to find the best health insurance plan as per their needs after assessing the premiums of different plans. Customers only need to fill in the required information, such as the sum insured, age of the insured, etc. and get the premium for different health plans in a few seconds.

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How to Use a Star Health Insurance Premium Calculator?

Follow the steps given below to calculate the premium of a Star health insurance policy:

• Visit Policybazaar.com and go to the ‘Insurance Products’ tab on the menu bar
• Under the ‘Health Insurance’ category, select ‘Health Insurance Premium Calculator’
• Go to the ‘Health Insurance Premium Calculator’ widget after scrolling down
• Choose the city where you stay
• Select the family members to be insured in the policy
• Enter the age of the oldest family member and the child (if relevant)
• Pick your desired sum insured and click on the ‘Calculate’ button

The premium calculator will determine the premium for various Star health insurance plans and display them. 

Star Health Insurance Premium Chart

Star Health Insurance premium chart contains different premium rates of the plans provided by Star Health & Allied Insurance Company. The chart mentions the cost of a policy as per various parameters, i.e. the age of the insured, tenure of the health plan, and the policy sum insured. Customers can download Star health plan brochures and policy wordings and check the premium charts.

Benefits of Using a Star Health Insurance Premium Calculator

Here are the benefits of using a Star health insurance premium calculator:

• Easy to Compare – A Star health insurance premium calculator helps people to evaluate different Star health insurance plans and buy an affordable yet good health insurance policy. 
• Make an Informed Decision – Customers can know the premium various Star health plans before actually buying them with the help of a premium calculator. As a result, people can make an informed decision about buying a plan that best suits their health needs and budget.
• Quick and Efficient - Manual calculation of health insurance premiums is cumbersome as well as boring. Most people end up settling for a health plan just to avoid researching. With the Star health insurance premium calculator, people can save time by checking the premiums of multiple Star health plans in one place.
• Helps in Customization – With the help of the premium calculator, customers can know the impact of different add-ons or riders on their health insurance premiums. Thus, they can customize their policy by adding riders or add-ons as per their health needs and budget.
• Free of Cost – A Star health insurance premium calculator is a free online tool that provides accurate health insurance quotes.

How is Star Health Insurance Premium Determined?

Star health insurance premium is determined with the help of the following factors. Take a look:

• Medical History

  The Medical history of a customer is taken into consideration while determining Star health insurance premium. A person with a pre-existing disease will have to pay a higher premium as compared to a physically fit person. Most plans require applicants above 45 years to undergo a medical exam before buying the policy. On the other hand, several plans consider the current health condition, family health background, and lifestyle-related habits to determine the premium. 

• Age

  Age is an important factor while calculating Star health insurance premium. The premium increases with an increase in the age of the insured. At a higher age, people are more prone to critical illnesses, such as cardiovascular diseases, kidney disorders, etc. As a result, insurers usually charge a higher premium to older people. 

• Gender

  The gender of the customer is also considered while calculating the premium. The premiums for female candidates are lower as compared to the male candidates due to a lower risk of heart attack, stroke, etc.

• Policy Term

  The longer is the Star health insurance policy tenure, the higher is the premium. For instance, the premium for a one-year Star health insurance plan will be lower than a 2-year plan. However, the insurer provides a discount to people opting for a policy tenure of more than 1 year.

• No Claim Bonus (NCB)

  No Claim Bonus is the discount that policyholders get on their renewal insurance premium if they haven’t raised a claim in the previous policy year. Thus, if a person has NCB, the insurance premium will be lower.

• Lifestyle

  If you are a smoker or drink regularly, the chances are that you will be paying a higher premium. This is because such people are more likely to raise a claim than those who neither drink nor smoke.

Tax Exemption on Star Health Insurance Premium

Star health insurance premium is eligible for tax-saving benefits as per the Income Tax Act. As per Section 80D, the premium paid towards buying or renewing medical insurance qualifies for tax deductions u/s 80D of the Income Tax Act. It is applicable for anyone paying the health insurance premium for themselves, their children, spouse, and parents, irrespective of the dependency. Take a look at the latest tax exemption slabs for medical insurance below:

• Policyholders below 60 years can get a tax exemption of up to Rs 25,000 annually for buying medical insurance for themselves, their spouses and children.
• Senior citizens above 60 years can get tax deductions of up to Rs 50,000.
• If the policyholder is below 60 years but has purchased medical insurance for senior citizen parents, then a tax deduction of up to Rs 75,000 can be availed, i.e. Rs 25,000 for themselves and Rs 50,000 for their parents.
• If both the policyholder and the parents are above 60 years, then a tax deduction of up to Rs 1 lakh can be availed.

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