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Group Health Insurance Policy for Corporates/Organization |
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4- Specimen Calculation for Group Health Insurance |
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Broker: |
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Name of Insurance Company: - The Oriental Insurance Company Ltd. Mediclaim for sum insured of Rs 2, 00,000/- per family with floater |
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Age Group |
No of Employees |
No of Dependents |
Premium Per person/
Per Year for Employee |
Premium Per person/
Per Year for dependent
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Total for Emp |
Total for Dep. |
Total |
Up to 35 |
85 |
80 |
2653 |
531 |
225514 |
42484 |
267998 |
36 to 45 |
14 |
8 |
3065 |
634 |
42908 |
5074 |
47982 |
46 to 55 |
2 |
15 |
5031 |
1006 |
10062 |
15093 |
25155 |
56 to 60 |
1 |
7 |
7189 |
1437 |
7189 |
10061 |
17249 |
Total Lives |
102 |
110 |
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| 212
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| 358384 |
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Add |
15% for maternity cover (standard limit 35K and 50K with 9 month waiting period |
53758 |
Add |
10% for waiver of 9 month waiting period |
35838 |
Add |
5% for including baby day 1 cover |
17919 |
Add |
30% for Pre existing Disease |
107515 |
Add |
10% loading (2% for normal & 4% for ICU) |
35838 |
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Total Add on Premium |
250868 |
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Base Premium |
358384 |
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Total of Add on Premium & Base Premium |
609252 |
Add |
3% TPA |
18278 |
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Total Premium Without GST |
627530 |
Add |
Goods & Service Tax 18% |
112955 |
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Premium Payable |
740485 |
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