Term Insurance Premium Calculator
- Premium Calculator
- How to Use?
- Benefits Offered
Himanshu is a content marketer with 2 years of experience in the life insurance sector. His motto is to make life insurance topics simple and easy to understand yet one level deeper for our readers.
Anchita has over 6 years of experience in content marketing, insurance, and healthcare sectors. Her motto to make health and term insurance simple for our readers has proven to make insurance lingos simple and easy to understand by our readers.
Updated on Mar 11, 2025 10 min read
Content Manager with heart, mind, and soul dedicated to creating impactful content that exceeds the market standard, delivers and reaches the readers conveniently. Besides producing high-ranking content, my focus lies in creating content that solves user queries and adds value.
Written By: Himanshu Kumar
Updated on Jan 15, 2025
Content Manager with heart, mind, and soul dedicated to creating impactful content that exceeds the market standard, delivers and reaches the readers conveniently. Besides producing high-ranking content, my focus lies in creating content that solves user queries and adds value.
Reviewed By: Anchita Bhattacharyya
15 min read
A term insurance premium calculator is a free online tool that helps you calculate the premiums you need to pay for your term insurance policy. The premiums are calculated based on various factors including age, gender, annual income, smoking habits, occupation, health, etc.
There are so many term insurance policies available in India. A term insurance plan calculator helps you compare and choose the right insurance policy that aligns with your needs. You can use the PolicyX term life insurance premium calculator to calculate the premiums of your term plan.
Continue reading to know all about the term insurance premium calculator without personal information
The process of using a term insurance calculator is very simple and easy. Let's understand how the term insurance premium calculator actually works:
Using the PolicyX term insurance premium calculator is very easy. You can calculate your term insurance premiums in just a few simple steps.
Step 1
Look for "Customized Term Plan Insurance For You" at the top of this page. Select your gender and enter your age. Then click on 'View Plans'.
Step 2
Select your city and annual income. Then click on 'Proceed'.
Step 3
Enter your name and mobile number. Click on 'Get Free Quotes'.
Step 4
Within a few minutes, the calculator will display premium details of different term plans offered by term insurance companies.
Step 5
You can compare different plans and choose the right one based on your financial needs. Moreover, you can also change coverage amount, and tenure and add riders from the left corner.
Step 6
Pay the premiums displayed on your screen and you will shortly receive the policy documents.
Given below are the premium illustrations shown by the PolicyX.com term life insurance premium calculator. The premiums shown are for a 30-year-old male, who is a non-smoker and has chosen a sum assured of Rs 1 crore and a policy term of 30 years.
| Company Name | Plan Name | CSR (FY 2023 - 24) | Policy Term | Life Cover (in Rs) | Monthly Premium (in Rs) | Yearly Premium (in Rs) |
| Axis Max Life Insurance | Smart Term Plan Plus | 99.65% | 30 years | 1 crore | 918 | 10,429 |
| HDFC Life Insurance | Click 2 Protect Super | 99.50% | 30 years | 1 crore | 1181 | 13,499 |
| Tata AIA Life Insurance | Sampoorna Raksha Supreme | 99.13% | 30 years | 1 crore | 1051 | 11,896 |
Given below is the list of benefits of a term insurance premium calculator that will help you understand its necessity in the present digital age.
As we've already discussed above, the premium amount for a term insurance plan depends upon a variety of factors. Given below is a list of a few such noteworthy factors. It is important that you take into consideration all these factors while calculating the premium for your term plan:
A term insurance calculator eliminates the hassle of doing lengthy calculations for calculating term insurance premiums. It also puts an end to human errors and saves a lot of time and energy. To get the correct estimate of your term insurance premium, you need to enter the personal details, the desired sum assured, and the preferred policy term.
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A term insurance premium calculator helps you compare different plans and calculate your term insurance premiums.
Easy to compare quotes from different term plans and choose the most suitable one.
Yes, your occupation also plays an important role in deciding your term insurance premiums. Working in hazardous industries puts your life at risk. As a result, people in these professions may have to pay higher insurance premiums.
Not at all. Using the term insurance premium calculator is easy, and you can use it at your home without anyone's expert assistance.
Choosing your sum assured amount depends on several factors including your family's needs, the number of dependents you have, your budget, the lifestyle you wish to provide to your family and many more. To get an estimated figure about an ideal coverage amount for your term plan, refer to our Human Life Value (HLV) Calculator.
Yes, a patient with diabetes is more likely to pay premiums than those who don't have it. It happens because a patient with diabetes is more likely to develop certain other comorbidities which increase the risk to the insurer.
No, you can use the Term Plan Calculator free of cost. The calculator is available on the official website of the company you have chosen or PolicyX.com.
Yes, the premium calculated increases if you opt to add riders to your term insurance policy. This is because each rider has an additional cost associated with the increased coverage it offers. As a result, the premium rises by adding each rider.
Yes, using the Term Plan calculator is safe if you are using a calculator from a reliable and trusted company like PolicyX.com.
Yes the term insurance premium, depends on the coverage amount of the policy.
Yes, the results of the term insurance premium may be impacted by lifestyle decisions. For example, smokers have to pay a greater premium than non-smokers.
It takes seconds to calculate the premium, once you enter the correct information.
Yes, age affects the results of the term plan calculator, age is directly proportional to the premium paid.
The term insurance calculator is available on the term insurance company's official website and is also available through the company's mobile application.
Yes, a term insurance premium calculator can be used without providing your personal information at ease.
Your occupation impacts your term insurance premiums because if you are engaged in high-risk activities the insurance companies have greater risk of insuring you. Thereby they charge high premiums from the policyholders.
Yes, the term insurance premium calculator is a reliable tool to calculate your term insurance premiums.
Check and compare plans from 21 IRDAI-approved term insurance providers before purchasing a term plan.
See More Term Insurance Articles
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October 9, 2024
I want to thank Shubham Sharma for his exceptional help with my term insurance query. He went above and beyond to assist me. I’m very grateful to Policyx.com and Shubham Sharma.
May 20, 2024
SUD Life term plan truly stands out my expectations as I got SUD Life term plan along with additional riders at very affordable premiums.
May 20, 2024
I am impresses with the hassle free and quick claim settlement process of SUD Life. Thanks to PolicyX who guided me to get my claim settled.
May 20, 2024
Bought SUD Life Family Income Benefit Rider plan to secure the future of my plan financially even in my absence.
May 20, 2024
I was looking for a term plan to secure the future of my family. So I contacted PolicyX and one of their representatives Mr. Vaibhav helped me choose SUD Life term plan.
May 17, 2024
I recently purchased a Pramerica term insurance policy from Policyx.com. The customer service team was very helpful in answering all my queries and guiding me through the application process. I...
May 17, 2024
PolicyX’s dedicated support made renewing my Bandhan Life Insurance policy easy. I’m absolutely delighted with the service offered by PolicyX Insurance Advisor.
May 17, 2024
I bought a Bandhan Life Insurance through PolicyX, and I must say the level of communication and assistance I have received has been truly impressive.
Himanshu is a seasoned content writer specializing in keeping readers engaged with the insurance industry, term and life insurance developments, etc. With an experience of 2 years in insurance and HR tech, Himanshu simplifies the insurance information and it is completely visible in his content pieces. He believes in making the content understandable to any common man.
