What is the HDFC Term Insurance Calculator?
HDFC Term Insurance Premium Calculator is a specially built tool that helps you determine the estimated amount of premium to be paid to keep the policy active.
With the help of the HDFC term plan calculator, policyholders can make an informed decision and choose the plan that provides the maximum coverage at the lowest prices.
To make sure that you don’t face any financial hardship with your insurance policy in the future, it is important that you carefully consider your premium amount at the time of selecting a term plan. Buying a term policy with expensive premiums that you can not afford can make it difficult for you to pay the premiums regularly.
A premium calculator helps you to have a look at the premiums of all the plans at once and then decide the one that fits your pocket. It is essential to use a calculator as it can be an excellent way to compare plans and understand if their coverage fits their cost.
What Information is Required by the HDFC Premium Calculator to Calculate Premiums?
To calculate your premiums using HDFC Term Plan Calculator you have to provide the following details:
- Policyholder’s Age
- Policyholder’s Income
- Smoking Habits
- Educational Qualifications
- policyholder’s Gender
- Sum Assured of Your Choice
- Policy Tenure
How to Use HDFC Term Insurance Premium Calculator?
Using an HDFC Term Life Insurance Calculator is an easy task. You have to just follow some simple steps to use an HDFC Term Insurance Calculator.
- Step 1:
Visit the Term Insurance Calculator
- Step 2:
Enter your age, income, city, and other required details.
- Step 3:
Select the sum assured amount, policy tenure, and riders (if needed).
- 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.
What are the Benefits of Using the HDFC Term Insurance Premium Calculator
There are various benefits to using an HDFC Life Insurance Policy Calculator:
- Comparison made easier Insurance companies sell a variety of term plans to cater to the demands of various customers. Using an HDFC Term insurance plan premium calculator simplifies the process by allowing consumers to compare the features, costs, and coverage of several term plans and make an informed selection.
- No overspending Because no broker is involved, buying HDFC term plans online is less expensive than buying them offline. In addition, having all the plans and their premiums in one place makes it easier to understand which plan is cost-effective.
- Add riders and add-ons easilyJust like having all plans at once, premium calculators display all the add-ons and riders available at one place making it easier for you to check which benefits you can buy and which riders are available to add to your policy.
- Better Financial PlanningHDFC term insurance plan premium calculator also aids in financial planning by estimating the amount of premium to be paid immediately. Once you know how much you’ll have to pay in premiums regularly, you can organize your budget appropriately.
- AccuracyHDFC Term Life Insurance Premium Calculator is a well-designed tool that is known and established for its accuracy. The details that you fill in are used to provide you with accurately estimated information that can be relied upon without any doubts.
Term Insurance Premium Rates
It helps you evaluate the cost of the term insurance policy and make an informed decision regarding your coverage. Here are the points explaining the factors that govern term insurance premium rates:
- Expenses The term expenses means the net premium + loading amount. This includes all the operation costs of the insurance company.
- Rate of Mortality It is data in which the insurance company estimates the death within the specific bracket of insured individuals. The company checks the statics and actuarial tables and then determines the risk, and then sets the premium rates.
- AgeThis criteria plays a significant role in determining the premium rates, for example, a younger person has to pay a lesser premium compared to an older person because the risk is much less.
- Health ConditionInsurance companies may ask for medical examinations to assess the health risk, and individuals with pre-existing conditions will have to pay a higher premium.
- Lifestyle ChoicesSmoking, and engaging in hazardous activities increase the level of risk, this may result in paying higher premiums
- Coverage AmountIt is a very important factor, as the insurer has to pay a higher premium if he goes for a higher coverage amount and vice versa.
- Policy TermThe duration of the premium rates as longer policy terms often result in higher premiums since the risk exposure extends over a longer period. This factor impacts the premium rates as, the longer the duration of the policy, the higher the premium.
- GenderLife expectancy differs between males and females, and this influences the premium rates. It is said that women live longer than males, at this point the premium rates may differ
Wrapping it up:
Calculating your HDFC Term insurance premium using the HDFC Life Term plan calculator can be helpful as you will know the amount you need to pay, and can plan and be prepared well in advance.
If you still require any assistance regarding your term insurance premiums you can contact us at PolicyX.com or call us at 1800-420-0269.
Explore other HDFC Term Insurance
HDFC Term Insurance offers one of the best term insurance plans to cater to the unique needs of every customer. You can buy their term plans with high life cover at pocket-friendly costs. Get a 5% discount for online purchases and 100% claim assistance with HDFC Term Insurance plans. Below is the list of term plans offered by HDFC Term.
HDFC Life Click 2 Protect Super is one of the top term insurance plan that offers high life cover at affordable premiums or multiple coverage options....
Unique Features
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CI Cover Available
-
3 Plan Variants
-
Avail Spouse Cover
HDFC Click 2 Protect Super (Pros)
-
Terminal Illness Benefit
-
Smart Exit Benefit
-
Acceleration Death Benefit
HDFC Click 2 Protect Super (Cons)
-
1 Year WP for Suicide
-
No Policy Loans
-
No Pre-existing Conditions
HDFC Click 2 Protect Super (Other
Benefits)
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Death Benefit in Instalments
-
RP
-
WOP & 3 Riders
-
Additional Cover for Spouse
HDFC Click 2 Protect Super (Eligibility
Criteria)
-
Entry Age -18 Years
-
Max Entry Age - 84 years
-
Minimum Sum Assured - INR 5
-
000
-
Maximum Maturity Age - 85 years
-
Premium Payment Term - RP/SP/LP
HDFC Life Quick Protect is a comprehensive term insurance plan that provides coverage against death, disease, and disability. The plan is highly custo...
Unique Features
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High Sum Insured
-
19 Critical Illness Cover
-
Accidental Death Benefit
HDFC Quick Protect Plan (Pros)
-
Monthly Income For 10 Years
-
Critical Illness Plus Rider
-
Income Benefit Rider
HDFC Quick Protect Plan (Cons)
-
No HIV Cover
-
No Policy Loans
-
No Pre-existing Conditions
HDFC Quick Protect Plan (Other
Benefits)
-
Accidental Death Benefit
-
Maturity Benefit
-
Waiver Of Premium
HDFC Quick Protect Plan (Eligibility
Criteria)
-
Entry Age - 18 Years
-
Max Entry Age - 50 years
-
Minimum Sum Assured - 25 L
-
Maximum Maturity Age - 75 years
-
Premium Payment Term - 5 to 40 Years
HDFC Term with Return of Premium Plan offers comprehensive protection, which helps the insured secure their family with Zero-Cost Term insurance by th...
Unique Features
-
Death Benefit
-
Reduced Paid Up Benefit
-
Discount On Large Sum Assured
HDFC Term With Return Of Premium (Pros)
-
Premium Payment Options
-
Absolute Amount Assured Paid
-
Tax Benefits on Premiums and Maturity Benefit
HDFC Term With Return Of Premium (Cons)
-
No Discount on Limited Pay
-
No Riders Available
-
No Policy Loan
HDFC Term With Return Of Premium (Other
Benefits)
-
Guaranteed Surrender Value
-
Guaranteed Maturity Benefits
-
No Waiting Period on Accidental Death
HDFC Term With Return Of Premium (Eligibility
Criteria)
-
Entry Age - 18 Years
-
Max Entry Age - 50 years
-
Minimum Sum Assured - 10 L
-
Maximum Maturity Age - 65 years
-
Premium Payment Term - LP/RP
HDFC Life Smart Term Pro is a versatile term insurance plan designed to provide comprehensive life insurance coverage and financial security. This is ...
Unique Features
-
Enhanced Protection Through Riders
-
Return Of Premium
-
Surrender And Maturity Benefit
HDFC Life Smart Term Pro (Pros)
-
Death Benefit
-
Maturity Benefit
-
Death Benefit Payout Options Death Benefit Payout Options
HDFC Life Smart Term Pro (Cons)
-
Reduced Paid-up Benefits
-
Reduced Paid-up Death Benefit
-
No Adventure Sports Cover
HDFC Life Smart Term Pro (Other
Benefits)
-
Guaranteed Surrender Value
-
80% Premiums on Suicide
-
Guaranteed Sum Assured on Maturity
HDFC Life Smart Term Pro (Eligibility
Criteria)
-
Entry Age - 30 Days
-
Max Entry Age - 60 years
-
Minimum Sum Assured - 15 L
-
Maximum Maturity Age - 80 years
-
Premium Payment Term - 5/8/10/12 yrs
HDFC Life Smart Term Edge is a comprehensive protection plan offering multiple options and features at reasonable premiums. The plan provides you with...
Unique Features
-
Reduced Paid Up Benefit
-
Death Benefit
-
Surrender Benefit
HDFC Life Smart Term Edge (Pros)
-
3 Premium Payment Modes
-
Option to Increase Death Benefit
-
3 Premium Payment Modes
HDFC Life Smart Term Edge (Cons)
-
No Suicide Cover
-
No Policy Loans
-
No Pre-existing Conditions
HDFC Life Smart Term Edge (Other
Benefits)
-
3 Plan Options
-
100% Death Cover
-
Tax Benefits on Premiums/Maturity/Riders
HDFC Life Smart Term Edge (Eligibility
Criteria)
-
Entry Age - 18 Years
-
Max Entry Age - 60 years
-
Minimum Sum Assured - 5 Lakhs
-
Maximum Maturity Age- 75 years
-
Premium Payment Term - 12 to 30 Years
HDFC Life Click 2 Protect 3D Plus provides policyholders and their loved ones with comprehensive financial security. As the name suggests, this term i...
Unique Features
-
9 Plan Options
-
Whole life coverage
-
Rider benefits
HDFC Life Click 2 Protect 3D Plus (Pros)
-
Life Stage Protection
-
Premium Top-up Option
-
Protection Against 3Ds
HDFC Life Click 2 Protect 3D Plus (Cons)
-
1 Year WP for Suicide
-
No Policy Loans
-
Death Due to Adventure Sports
HDFC Life Click 2 Protect 3D Plus (Other
Benefits)
-
Choice of Plan Options
-
Lifelong Protection
-
Return of Premium Option
HDFC Life Click 2 Protect 3D Plus (Eligibility
Criteria)
-
Entry Age -18 Years
-
Max Entry Age - 65 years
-
Minimum Sum Assured - ₹10 Lakhs
-
Maximum Maturity Age - 99 years
-
Premium Payment Term - RP/SP/LP
HDFC Life Saral Jeevan Bima is a simple and no-frills, pure-risk best term insurance plan. This plan dispenses the nominee with a fixed amount after t...
Unique Features
-
Flexible premiums
-
Additional riders
-
Financial protection
HDFC Life Saral Jeevan Bima (Pros)
-
Discount on Higher Premiums
-
Policy Loan Available
-
No Interest on ROP Minors
HDFC Life Saral Jeevan Bima (Cons)
-
No Alterations Allowed
-
No Death Benefit on Income Payout
-
Advance premiums for monthly payment mode
HDFC Life Saral Jeevan Bima (Other
Benefits)
-
3 Rider Options Available
-
Premium Payment Flexibility
-
Tax Benefits on Premiums and Maturity
HDFC Life Saral Jeevan Bima (Eligibility
Criteria)
-
Entry Age - 30 Days
-
Max Entry Age - 65 Years
-
Minimum Sum Assured - 5 L
-
Maximum Maturity Age - 85 years
-
Premium Payment Term - RP/SP
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