Health Insurance Premium Estimator
Family floater health premium estimate. Premium rises with the square root of cover rather than proportionally, so doubling the sum insured typically costs around forty percent more, which makes higher cover unusually good value.
Also called: mediclaim premium calculator, family floater premium.
$20,644.00 a year for a family floater of 2 adults and 2 children at 1,000,000 sum insured. That is $2,064.36 per lakh of cover, $5,161.00 per person. No room rent limit, so the sum insured is not proportionally reduced by the room you occupy.
An estimate, not an offer or a guarantee. Projected returns assume the rate you entered holds for the whole term, which no market does.
This is what the calculation gives for the numbers you entered. It is an estimate, not advice, and it knows nothing about your situation beyond those numbers. Rules for United States change on a published schedule; the effective date is shown on every rule-based tool.
How this is calculated
A family floater prices on the age of the eldest member, with additions for each further person. The relationship with sum insured is sublinear: large claims are rare, so the extra cover is cheap to provide, and doubling from ten to twenty lakh usually costs about forty percent more rather than a hundred. That makes under-insuring a false economy. Room rent limits and copay reduce the premium and transfer risk back to you at exactly the moment you are claiming.
premium rises with the square root of sum insured, so doubling cover costs far less than double- a
- Age of eldest
- S
- Sum insured
Method and limits
What it assumes
- A standard indemnity floater without riders.
What it deliberately does not model
- Pre-existing conditions carry waiting periods, typically two to four years, during which they are not covered.
- Sub-limits on specific procedures can leave large gaps that the sum insured does not reveal.
- Insurers price the same family very differently.
Formula version 1.0.0 · definition 1.0.0 · United States · Report a problem with this calculator
Frequently asked questions
- Should I buy a higher sum insured?
- Usually yes. Premium rises with roughly the square root of cover, so doubling the sum insured costs around forty percent more rather than double. Under-insuring is the expensive mistake.
- Are room rent limits worth accepting?
- Rarely. A room rent cap can proportionally reduce the entire claim, not just the room charge, so a small premium saving can cost a large share of a hospitalisation.