Term insurance is a contract between insured and insurer, where insurer pays out sum assured called ‘death benefits’ to the nominee/beneficiary, if the insured dies within the term of the policy. The insured pays periodic premiums to keep the policy active. There are no survival benefits under a normal term insurance plan. However, there are various riders that can be availed as add-on features.
SEE ALSO: Review Your Insurance Plans With IndianMoney
Term insurance premium calculator is an interactive simulation/tool, which helps individuals analyze and compare term insurance premiums across insurers. Premium calculators require personal details like name, mobile number, age, income and so on. Based on your input, it provides approximate premiums payable for availing a term insurance plan.
Want to know more on Investment Planning? We at IndianMoney.com will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. IndianMoney.com is not a seller of any financial products. We only provide FREE financial advice/education to ensure that you are not misguided while buying any kind of financial products.
Feature |
Description |
Sum assured |
Premium calculator helps individuals decide the required amount under the policy (sum assured) based on requirements. |
Easy to use |
It is extremely easy to use the tool, all you must do is enter the details. Premium calculator displays premiums payable on the basis of income. |
Analyze |
On providing personal details like age, date of birth, income and so on, customers get approximate amount payable towards premiums across lenders. It also displays benefits across lenders. This is used by the customers to analyze and know if the policy is best suited. |
Compare |
Premium calculator displays premiums payable and benefits of various lenders. This is used by customers to analyze and compare between lenders and choose a plan that is suitable. |
Simplifies complex data |
Majority of the first time insurance buyers find it difficult to understand the information related to term insurance. Premiums calculator makes it easy and hassle-free to find best suitable policy. |
Better understanding of the product |
Due to the above mentioned factors, customers get in-depth understanding of the product and can choose best insurer and plan. |
Customization |
Premium calculator customizes the term insurance plan based on the details entered by customers. |
Swift convenient tool |
Premium calculator is a very convenient tool which must be used by all those individuals who are planning to avail a term insurance plan. This tool processes the data and displays benefits swiftly, in a matter of a few seconds. |
IndianMoney.com offers human life value calculator, which can be used to calculate human life value and decide on sum assured and premiums. Premiums directly depend on the sum assured. Following are the benefits of term insurance premium calculator:
SEE ALSO: Term Insurance for NRIs in India
Premiums paid for term insurance depend on the sum assured. It also depends on various other factors. Premium calculation differs across insurers. Premium calculator considers the factors mentioned below and gives output completely based on your input:
SEE ALSO: Is an Endowment Life Policy the Best Life Insurance for you?
Term insurance plan is basic life insurance. It is a contract under which the insurer pays out death benefits to the nominee, if the policy holder dies within the term of the policy. Term insurance is extremely important if you are the breadwinner of the family. Term insurance policy provides financial security to family if something untoward happens.
Term insurance policy takes care of unpaid debts like home loan, personal loan and so on. Your family can still live in the house; your children can continue education and financial liabilities will be taken care of, all thanks to the term insurance policy.
You May Also Watch:
Iframe Content
Keep your Financial Cognizance up to date with IndianMoney App. Download NOW for simple tips & solutions for your financial wellbeing.
Have a complaint against any company? IndianMoney.com's complaint portal Iamcheated.com can help you resolve the issue. Just visit IamCheated.com and lodge your complaint. If you want to post a review on any company you can post it on Indianmoney.com review and complaint portal IamCheated.com.
Be Wise, Get Rich.
This is to inform that Suvision Holdings Pvt Ltd ("IndianMoney.com") do not charge any fees/security deposit/advances towards outsourcing any of its activities. All stake holders are cautioned against any such fraud.