An online tool for figuring out the premium for a Star health insurance policy is the Star health insurance premium calculator. After comparing the premiums of several plans, it enables clients to identify the best health insurance plan for their requirements. So, see below the star health insurance agent commission chart 2025.
How is Star Health Insurance Premium Determined?
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The following criteria are used to calculate the premium for Star health insurance. Look at this:
Health History:
When calculating a customer’s Star health insurance premium, their medical history is taken into account. The premium for a person with a pre-existing illness will be higher than that of a physically fit one. Before purchasing a policy, most plans require applicants over 45 to get a medical examination. However, a number of plans use lifestyle-related behaviors, family medical history, and current health status to calculate premiums.
Age:
When determining the cost of Star health insurance, age is a significant consideration. As the insured person’s age increases, so does the premium. People who are older are more likely to suffer from serious ailments including kidney problems, cardiovascular diseases, etc. As a result, older individuals typically pay greater premiums to insurers.
Gender:
When determining the premium, the customer’s gender is also taken into account. Because female candidates are less likely to have a heart attack, stroke, etc., their premiums are lower than those of male candidates.
Term of Policy:
The premium increases with the length of the Star health insurance coverage. For example, a one-year Star health insurance plan will have a lower price than a two-year plan. However, those who choose a policy duration longer than a year are eligible for a discount from the insurer.
Bonus for No Claim (NCB):
Policyholders who haven’t filed a claim during the preceding policy year are eligible for a No Claim Bonus, which is a discount on their renewal insurance price. Therefore, an individual’s insurance premium will be reduced if they have NCB.
Way of life:
It’s likely that your premium will be greater if you smoke or drink frequently. This is due to the fact that those who smoke and drink are less likely to file a claim than those who do not.
Tax Exemption on Star Health Insurance Premium:
According to the Income Tax Act, premiums for Star health insurance are eligible for tax savings. The premiums paid for purchasing or renewing health insurance are deductible from taxes under Section 80D of the Income Tax Act. It applies to anybody, regardless of reliance, who pays the health insurance premium for their parents, spouse, children, and themselves. View the most recent medical insurance tax exemption slabs below:
For purchasing health insurance for themselves, their spouses, and their children, policyholders under 60 years of age are eligible for a yearly tax deduction of up to Rs 25,000.
- Tax deductions of up to Rs 50,000 are available to senior individuals over 60.
- A tax deduction of up to Rs 75,000, or Rs 25,000 for the policyholder and Rs 50,000 for their parents, is available if the policyholder is under 60 and has taken medical insurance for their elderly parents.
- A tax deduction of up to Rs 1 lakh is available if the policyholder and their parents are both over 60.
Star Health Insurance Agent Commission Chart 2025:
Quality in policy writing has always been a priority for Star Health. We have made care to offer additional commission to agents with lower ICR percentages since we think that agents are crucial in risk selection (for example, an agent at Chairman Club with ICR
Chairman club agents with ICRs greater than 75% are eligible for a commission of just 32%, while those with ICRs up to 60% are eligible for a commission of 35%.
As of February 2025, Star Health and Allied Insurance Co. Ltd. has structured its agent commissions to reward performance and policy quality. The commission rates are influenced by the agent’s club membership and the Incurred Claims Ratio (ICR).
Commission Structure:
Agents are categorized into various clubs based on their business performance. The commission percentages vary accordingly:
| Club Membership | Maximum Commission Rate |
|---|---|
| Chairman Elite Gold Club | Up to 40% |
| Chairman Club | 32% – 35% |
| Managing Director (MD) Club | 30% |
Note: The exact commission within the Chairman Club depends on the agent’s ICR. For instance, an ICR up to 60% qualifies for a 35% commission, while an ICR above 75% qualifies for a 32% commission.
Key Factors Influencing Commissions:
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Incurred Claims Ratio (ICR): Agents with lower ICRs are rewarded with higher commissions, emphasizing the importance of quality underwriting.
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Performance Review: Agent performance is reviewed quarterly. Maintaining or upgrading club status depends on meeting specific business targets.
For new agents, Star Health designates them as “Rising Stars,” providing a clear pathway for progression based on performance.
For a more detailed understanding of the commission structure and the process of becoming a Star Health Insurance agent, you may find the following video informative:
Star Health Insurance Premium Chart:
The premium rates for the various plans offered by Star Health Insurance Company are displayed in the Star Health Insurance pricing chart. The figure shows the cost of a policy according to a number of factors, including the policy sum insured, the insured’s age, and the length of the health plan. Consumers can view the premium tables and obtain brochures and policy wordings for Star Health Plans.
Benefits of Using a Star Health Insurance Premium Calculator:
Using a Star health insurance premium calculator has the following advantages:
Simple to Compare:
A Star health insurance premium calculator makes it easier for consumers to assess various Star health insurance plans and select a reasonably priced, high-quality coverage.
Make an Informed Choice:
With the aid of a premium calculator, customers can learn the premiums of different Star health plans before actually purchasing them. People are therefore better equipped to choose a plan that best fits their financial situation and medical need.
Fast and Effective:
Calculating health insurance premiums by hand is tedious and time-consuming. The majority of consumers choose a health plan simply to avoid doing any research. By comparing the rates of several Star health plans in one location, consumers can save time by using the Star health insurance premium calculator.
Aids in Customization:
Customers can determine how various riders or add-ons would affect their health insurance rates by using the premium calculator. As a result, they can add riders or add-ons to their policy to suit their budget and medical requirements.
Free of Cost:
An online tool that offers precise health insurance rates is the A Star health insurance premium calculator.
As of February 2025, Star Health and Allied Insurance Co. Ltd. has not publicly released a specific Agent Commission Calculator. However, understanding the commission structure can help agents estimate their potential earnings.
Commission Structure Overview:
Agent commissions are primarily influenced by club membership tiers and the Incurred Claims Ratio (ICR). Here’s a summary:
| Club Membership | Commission Rate |
|---|---|
| Chairman Elite Gold Club | Up to 40% |
| Chairman Club | 32% – 35% (based on ICR) |
| Managing Director (MD) Club | 30% |
Note: Within the Chairman Club, an ICR up to 60% qualifies for a 35% commission, while an ICR above 75% qualifies for a 32% commission.
Estimating Commissions:
To estimate potential commissions:
- Determine the Total Premium: Calculate the total premium amount of the policies sold.
- Identify Your Club Membership: Based on your performance metrics and ICR, determine your current club status.
- Apply the Commission Rate: Multiply the total premium by the commission rate associated with your club membership.
Example Calculation:
If an agent in the Chairman Club with an ICR of 55% sells policies totaling ₹10,00,000 in premiums:
- Commission Rate: 35%
- Total Commission: ₹10,00,000 × 35% = ₹3,50,000
Additional Considerations:
- Policy Type: Commissions may vary based on the type of policy (e.g., individual health plans, family floaters, group insurance).
- Renewals: Agents typically earn commissions on policy renewals, though rates may differ from first-year commissions.
- Performance Reviews: Regular assessments can affect club status and, consequently, commission rates.
FAQ:
Q. What is the Incurred Claims Ratio (ICR), and how does it affect commissions?
A. The ICR is the ratio of total claims paid to the total premium collected.
- Lower ICR (<60%) → Higher commission (up to 35% in Chairman Club).
- Higher ICR (>75%) → Lower commission (32% in Chairman Club).
Q. How often is an agent’s performance reviewed?
A. Agent performance is reviewed quarterly. Maintaining or upgrading club status depends on meeting business targets and maintaining a good ICR.
Q. Do new agents get a fixed commission rate?
A. Yes, new agents start as “Rising Stars” and receive a standard commission. Their commission increases as they qualify for higher club memberships.
Q. Do agents earn commissions on policy renewals?
A. Yes, agents continue earning commissions for policy renewals, but the percentage may vary.
Q. Is there a difference in commission for different policy types?
A. Yes, commissions may vary between individual health policies, family floater plans, and corporate/group health insurance.
Q. What happens if an agent’s performance declines?
A. If an agent does not meet business targets or has a high ICR, they may be downgraded to a lower club, reducing their commission percentage.
Q. Can an agent earn incentives or bonuses?
A. Yes, Star Health offers incentives, bonuses, and club benefits for top-performing agents.
Q. Is GST applicable on commissions?
A. Yes, an 18% GST is applicable on commission earnings if the agent crosses the GST exemption threshold.
Q. How can an agent join Star Health Insurance?
A. To become a Star Health agent, one must:
- Complete the registration process.
- Attend training sessions.
- Pass the required examination.
- Start selling policies to qualify for commissions.
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