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Jan 08, 2025
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Health Insurance
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National Insurance Mediclaim Policy Premium Calculator
National Insurance Company Limited is a public sector general insurance company which offers a range of health insurance plans. The plans offered by the company are of different types and they offer a range of comprehensive coverage benefits. The premium rates are affordable. wanting to buy health insurance plans can calculate their health insurance premiums using National Insurance Company’s mediclaim premium calculator. The calculator helps in calculating the premiums payable for the policy depending on the details provided by the policyholder.
How to calculate health insurance premium
The health insurance premium can be calculated using the health insurance premium calculator. Here are the details which the policyholder should provide for premium calculation –
1. The policy selected
– the premium depends on the coverage features of the policy and so the policy which is selected would determine the premium
2. The sum insured
– National Insurance allows a range of sum insured. The chosen sum insured affects the premium
3. The age of the insured
– age also determines the premium. Higher the age, higher would be the calculated premium.
4. The number of members covered
– National insurance also offers family floater plans wherein the spouse, dependent children and dependent parents can be covered under the plan along with the policyholder. The number of members who are to be covered affects the premium calculation and are required to be mentioned in the calculator.
5. The policy tenure
– many health plans offered by the company have a policy term of one, two or three years. The premiums, however, are paid once. So, the term of the policy also affects the premium calculation
6. Premium loadings and discounts
– there are premium loadings in some plans while in others there are available discounts. These loadings and discounts also influence the premium. Loadings increase while discounts lower the premium rate.
After all the above-mentioned details are entered into the calculator, the premium for National Insurance Company’s health insurance plans would be calculated and displayed. The policyholder can change the calculated premium by changing one or more of the above-mentioned details.
Author Bio
Paybima Team
Paybima is an Indian insurance aggregator on a mission to make insurance simple for people. Paybima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. Paybima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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Jan 08, 2025
Health Insurance
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What consequences does it bring upon the insured if the person offers wrong information on his/her life insurance proposal form? Let us find out in this post!
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There are plenty of life insurance myths that people have regarding and they need to be dispelled.
It is thanks to these wrong ideas that people fail to see insurance as what it truly is – a vital part of your financial planning. You need to understand that these policies are an important constituent of your financial contingency plan – one that would protect your near and dear ones financially in the future. It would make sure that they do not experience a shortage of funds when they need them in the future. In certain cases, it can also act as a source of income following retirement as well as ailments and accidents that render you unable to work and earn.
When Rajesh wanted to purchase a new life insurance policy for his family, many of his friends advised him to understand the claim settlement ratio of a company. Although he didn’t understand what claim settlement ratio is, he knew that it was relevant in making the decision to buy a policy from a particular company. He therefore researched about it, compared plans and at last, he bought a policy from a company that had a high claim settlement ratio.
Buying a new online term insurance plan involves researching on various things like cover, exclusions, add-ons, and one should know about them in detail. For example, Tata AIA is a leading insurance company that offers a wide range of insurance plans in market at very competitive prices. However, being competitive in pricing alone is not enough, it is necessary to understand the company’s claim settlement ratio (CSR) before purchasing a plan.
Saral Jeevan Bima Yojana is a new standardized life insurance policy that has been brought about by the IRDAI (Insurance Regulatory and Development Authority of India) so that people can have an economical life insurance policy.
This is a non-participating and non-linked individual pure risk premium life insurance policy. In this case, your nominee would receive the sum assured if you pass away while you are covered by the policy. In its annexure, the policy states some benefits and riders. Apart from that, it does not offer any other benefit, rider, variant, or option. The only exclusion in the policy is that of suicide.
The Indian government offers various life insurance plans to secure the financial future of people. The PLI or Postal Life Insurance is one such government policy that monetarily protects the lives of your family members at an economical postal interest.
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