PolicyCalculator.in helps you estimate insurance premiums and policy values instantly. Our calculators are designed for Indian insurance rules and provide simple, clear results.
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Frequently Asked Questions
Everything you need to know about your insurance policies.
Premium calculation depends primarily on the age of the eldest member, the city of residence (Zone), sum insured, and existing medical conditions. Adding family members to a single 'Floater' plan is often cheaper than buying individual policies for each.
Most health insurance policies have a waiting period of 2 to 4 years for pre-existing conditions (diseases you had before buying the policy). However, accidents are covered from day 1, and other specific illnesses may have a waiting period of 24 months.
Cashless: The insurer settles the bill directly with the network hospital. You pay only non-medical expenses. Reimbursement: You pay the bill first and then submit documents to the insurer to get the money back. This is required if you go to a non-network hospital.
Standard "Pure Term" plans do NOT pay anything if you survive the policy term. They are designed purely for death risk cover. However, "Return of Premium" (ROP) plans are available that refund your total premiums at maturity, though they cost significantly more.
CSR indicates the percentage of claims settled by an insurer out of the total claims received. A ratio consistently above 98% indicates the insurer is reliable and quick to pay out valid claims.
IDV (Insured Declared Value) is the maximum sum assured fixed by the insurer which is provided on theft or total loss of the vehicle. It is essentially the current market value of your vehicle. A higher IDV means higher premium but better protection.
The NCB belongs to the *owner*, not the vehicle. If you sell your car, you can retain the NCB certificate and transfer it to your new car's insurance policy within 3 years to get a discount on the new premium.
