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Secure your family's future with the right life cover. Estimate your annual and monthly premiums instantly based on your age and health profile.

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Understanding Term Life Insurance

Everything you need to know to secure your family's financial future with the right life cover.

High Sum Assured

Term insurance is the most affordable way to get a large life cover. You can secure a sum assured of ₹1 Crore or more for a very small monthly premium, ensuring high financial protection.

Tax Benefits

Premiums paid for term insurance are eligible for tax deductions under Section 80C of the Income Tax Act. Additionally, the death benefit payout is completely tax-free under Section 10(10D).

Financial Security

In case of an unfortunate event, the sum assured helps your family pay off outstanding liabilities like home loans, car loans, and provides for their daily living expenses and children's education.

Flexible Policy Terms

Choose a policy term that matches your financial milestones, such as until your retirement or until your children are financially independent. Most plans offer terms from 5 to 50 years.

Critical Illness Riders

Many term plans allow you to add riders for critical illnesses, accidental death, or waiver of premium, providing comprehensive protection against various life risks beyond just death.

Quick Claim Settlement

Modern insurance providers offer highly digitized and simplified claim settlement processes, with some insurers boasting a claim settlement ratio of over 99% for peace of mind.

Frequently Asked Questions

Quick answers to common queries about Term Life Insurance premiums and coverage.

What is Term Life Insurance?
Term insurance is a pure life insurance product that provides a specified sum of money (sum assured) to the nominee in case of the policyholder's death during the policy term. It has no maturity value but offers the highest life cover at the lowest cost.
How much life cover (Sum Assured) do I actually need?
A general rule of thumb is to have a sum assured that is 10 to 15 times your annual income. You should also consider your total liabilities (loans), future expenses (children's education/marriage), and current savings when deciding the cover.
Does the premium increase as I get older?
No. Once you purchase a term insurance policy, the premium amount is usually locked in and remains the same throughout the entire policy term. This is why it's highly recommended to buy a plan as early as possible.
Are smokers eligible for term insurance?
Yes, smokers can buy term insurance. However, insurance companies charge higher premiums for smokers compared to non-smokers due to the increased health risks associated with tobacco use.
What happens if I survive the policy term?
Standard term insurance plans do not provide any maturity benefit if the policyholder survives the term. However, some "Term Return of Premium" (TROP) plans return the total premiums paid at the end of the term, though they come with higher premiums.