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Calculate term insurance premium online with the term insurance premium calculator by HDFC Life basis age, gender, smoking habit and sum assured.
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What is a Term Insurance Calculator? A term insurance calculator is a free online tool that helps you calculate your term insurance premium for the ideal life cover and policy benefits. It evaluates key details such as age, gender, current income, marital status, health, and dependents to guide you in choosing a term insurance plan that matches your personal and financial objectives. Utilize HDFC Life's term plan calculator to strategically plan your term insurance.
How does a term insurance premium calculator work? As mentioned in the above step by step guide you need to provide the following details to calculate your term insurance premium: Date of Birth Gender Tobacco consumption Income Life cover The above information about you will help the calculator evaluate the premium for your term insurance customised as per your financial protection needs. Let’s understand how term insurance calculator works with the help of an example: Ajay, a 25-year-old man, earning 10 Lakhs per annum, wishes to secure his family’s future with a term insurance. After assessing his financial protection needs, he decides that he would need a term insurance of 1 crore. He uses the Term Insurance Calculator by entering his male, smoking, 10 Lakh, 25 years and 1 crore respectively for gender, tobacco consumption habits, income, age and life cover. The estimated premium for Ajay’s term plan was Rs 14127 per month9 for HDFC Life Click 2 Protect Super (Life option)4 (UIN:101N145V07).
What happens when you don’t use a term insurance calculator? When we don’t use a term insurance calculator we might end up choosing a term plan that doesn’t meet our financial protection needs and it’s in our budget. A term insurance calculator gives us a fairly accurate estimation of the term life cover we need along with the premium amount for the same. 1 Paying a higher premium By calculating the premium amount without taking your financial protection needs into consideration you might end up paying a higher premium that doesn’t will your budget. 2 Inadequate life cover By only considering the premium amount while buying a term insurance you might end up getting a life cover which is inadequate as per your financial needs.
