Term Life Insurance
‘In my absence, how much money will my family need to have a good life?’

Term Insurance Calculator

What is Term Insurance Calculator?

How does a Term Plan Calculator Work?

What are the Benefits of a Term Plan Calculator?

What are the Factors that can Affect a Term Insurance Premium?

FAQs About Term Insurance Premium Calculator

Do Term Insurance Premium Rates Increase Over Time?

Usually, the premium charged for a term insurance plan remains the same throughout the policy's tenure. This is one of the reasons why it is suggested to buy term insurance at a younger age when your premium amount is lower and remains the same for the complete tenure of the policy.

Does the Premium Amount Change if I Add Riders to my Term Plan?

Riders provide additional benefits and can be added to the base policy for a nominal premium. They increase the total premium, but the change is minimal compared to the total premium amount.

How Can I Reduce my Term Plan Premium?


Here are a few pointers that can help you optimise your term plan, i.e., maximum benefits with minimum premium:  

  • Plan at an early stage. The younger you are, the lesser the premium.
  • Choose a longer tenure. Since it spreads the payment over a more extended period, the premium reduces.
  • Maintain a healthy lifestyle. Suppose you compare the premiums for a person with harmful habits like smoking, alcohol consumption etc., against someone who maintains a healthy lifestyle. In that case, you will notice that the difference is quite significant.
  • Try to pay your premium annually rather than breaking it into half-yearly, quarterly, or monthly, increasing the premium.

Can I Increase or Decrease the Sum Assured During the Policy Term?

In most cases, term insurance policies do not allow for changes in the sum assured during the policy term. However, it is advisable to check with your insurance provider, as some policies may offer limited flexibility in this regard.