Max Life Insurance Premium Calculator

How Does the Max Life Insurance Calculator Work?

Let’s understand the working of the Max Life Insurance Calculator with a simple example.

Mr Raghav who is a 34-year-old non-smoker is working in an MNC as Assistant Sales Officer. He wants to buy life insurance with a sum assured of Rs 2 crore to secure the future of his family members even in his absence. He decides to pay the premium till he turns 75. By entering the details in the Max Life Insurance Calculator you will get the premium amount.

How to Use the Max Life Insurance Premium Calculator?

Using the Max Life Insurance Calculator is simple and hassle-free. To use the Max Life Insurance Calculator you have to follow the below-mentioned steps:

• Visit the official website of Max Life Insurance.
• Hover on "Term Insurance" on the top left corner of the page.
• Under "Term Insurance" click on "Term Plan Calculator"
• A new interface of the "Max Life Insurance Calculator" will appear on your screen.
• You just have to enter some basic details such as your name, mobile number, date of birth, annual income, etc based on which it shows you the premium amount monthly, quarterly, half-yearly, and yearly.

The basic details you have to enter in the Max Life Insurance Calculator to calculate the premium include:

• Policyholder’s Date of Birth
• Gender
• Smoking habits
• Policy Tenure
• Sum Assured
• Educational qualifications
• Additional Riders

The premiums calculated by Max Life Insurance Premium Calculator are inclusive of the 18% GST amount.

Benefits of Using Max Life Insurance Calculator

Using the Max Life Insurance Calculator has numerous advantages.

1. Helps in quick decision making

   Max Life Insurance Premium Calculator helps you make a quick decision by comparing different plans and choosing the one that is suitable for you.

2. Easy to use

   Max Life Insurance Calculator is a free tool available on the official website of Max Life. Anyone can use it easily without any prior knowledge or experience.

3. Eliminate intermediaries and brokers

   You can easily calculate your life insurance premium using the Max Life Insurance Calculator and buy the policy online and get attractive discounts thereby eliminating charges of intermediaries and brokers.

4. Get information regarding factors affecting your premiums

   You can get information about the factors that affect your premium such as smoking habits, alcohol consumption, health condition, etc. It helps you make conscious decisions for the future.

5. Helps to plan your finances

   Max Life Insurance helps you calculate your life insurance premium. Knowing your insurance premium in advance helps you manage your finances and budget in advance.

Factors Affecting Max Life Insurance Premium

1. Policyholder’s Age

   The age of the policyholder affects their life insurance premium. A higher age attracts more premium as compared to a lower age as the risk associated increases with an increase in age.

2. Gender

   Policyholder’s gender affects their life insurance premium as the life expectancy of females is greater than males. So females are charged a lower premium as compared to males.

3. Medical History of the Policyholder

   The medical history of the policyholder affects their premium. If an individual has a pre-existing illness or disease then they might be charged a higher premium by Max Life.

4. Family health history

   The health history of the policyholder’s family is also important as certain diseases are hereditary. They pass on from parents to their children which is important for insurer to know.

5. Smoking habits

   You will be charged a high life insurance premium if you have smoking habits as the chances of heart disease and cancer are greater.