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Life Insurance Premium Calculator

The life insurance premium calculator is an online financial tool that assists you in knowing the amount of the required life insurance coverage. This financial tool has different features such as calculator, summary, graphs and schedule which will assist you in knowing the complete variations of required life insurance cover.

On a daily basis life insurance is providing multiple benefits to common man in the form of protection, wealth creation and savings as well. Nowadays we have multiple products under life insurance plan and this is something that assist us in securing each and every aspect of present and future as well. They are designed in a way which can provide the financial assistance in the hour of need. Life insurance is something that you want to secure the future of your family as well.

As discussed above, life insurance is basically having a financial assistance for the hard time of life that will not only protect you and your family but also assist you in the wealth creation. PolicyX, is providing a great tool related to the same that will help you in getting an estimate of amount in advance that you have to pay as a premium for your life insurance policy within a specific time frame.

Life insurance premium calculator helps you in determining the actual premium that you have to pay to the insurer. We all are aware that there are multiple insurance companies that serve effective life insurance plans. With the help of life insurance premium calculator you will be able to understand what exactly you are looking for and helps you in easy comparison of available plans that will leat you towards choosing the best out of all.

How To Use Life Insurance Premium Calculator?

For taking advantage of the life insurance premium calculator you just need to fill some basic information in the form of premium calculator such as income, age, retirement age, total assets, etc. By simply filling details you will get to know what should be your desired sum assured.

Filling out information in life insurance plan and getting related quotes will not take much time. You just need to follow some steps:

Step 1: Fill the form with your personal details like gender, marital status, birth date, income, number of children, etc. smoke related questions can be asked.

Step 2: By entering required information the calculator will tell you the amortization summary on which you may come to know about the premium, interest rate, and related factors in a few minutes.

Calculate easily with the Life insurance premium calculator at to avoid tedious ambiguities in calculation. Now, the future planning is just few steps away.

Benefits of Life Insurance Calculator

A life insurance is something that you may require on every stage of life whether it is related to securing future, wealth creation and protecting your loved ones after you. Life insurance is basically divided in multiple categories such as term insurance plans, child insurance, retirement, investment, etc. With the help of calculator you will be able to understand that how much you will have to pay to get the required cover, this will directly assist you while comparing the available plans and choose the best one which can easily go well with your needs.

  • Saves your time: - It is completely true that a life insurance premium calculator will effectively help you in saving your precious time and assist you to save yourself from fraud calls. Under the same you don't have to provide all your documents to get the required quote related to the premium. Within a few seconds, you will get what actually you are looking for. It also allows you to buy the desired life insurance plan without the intervention of insurance agent.
  • Assist in comparison: - It refers to be the only tool in India that helps you in the fast comparison of available plans and allow you to choose the best accordingly on a single platform itself.
  • Cost effective: - There are several insurance companies who loves the online way of interacting with consumers. They actually provide many discounts and benefits to the consumers who make purchase online. So once you decided the type of plan that you will buy, then you can compare the same online and can buy the best from the same platform that is actually cost effective because there will be no agents commission. You are directly buying from the company that saves your money.

So the above stated facts has cleared that a life insurance premium calculator isa helpful tool in every aspect. It assist you a lot in choosing the best plan as per your needs. It will not take more than 2 minutes. To take advantages of the same, all you need to do is fill the form with basic details, like your name, age, phone number, etc.

Top Factors That Decides Life Insurance Premium Rates

  • Your age
  • Your income
  • Health habits
  • Sum assure
  • Policy term

Why Life Insurance?

As discussed above, in this era where the expectations are increasing regularly and to manage the same with the fixed income is really very hard. Moreover we are not aware about the future emergencies that can leave a bad impact on our family as well. Hence we need something that assist as in each and every aspect, and here were the life insurance comes into the picture. The different forms of life insurance plan helps us in securing the different stages of life. The term insurance plan that lies under life insurance helps you in securing the future of your family after you as well. Moreover, plans like money back, endowment helps you in wealth creation that will assist you in managing your present as well. Several other plans like investment child plans are great for securing your future and your loved one as well. A few reason to understand the needs of life insurance

1. To Pay Final Expenses It is true that the cost involve in funeral and burial can easily create a whole in the pocket. Moreover, if it the related to the demise of the insured then the financial burden is already a big problem for the insured's family and to deal with the same and to handle emotions at the same time is a difficult task. In such scenario a life insurance acts like a savior and will stand with you with the financial assistance that the insured has left for them. You surely don't want your loved ones to suffer financially after you.

2. Cover Children's Expenses Like any other parents, you too want to secure the future of your child in every aspect of life whether it is related to his/her education, marriage, etc. You don't want them to compromise with anything, just because of this reason it is very important to have a child life insurance plans that will be there to support your ward in every stage of life.

3. To Replace the Income In case of the death of the only breadwinner of the family, it actually become very hard for his/her family to deal with the daily expenses. So with the effective form of life insurance plan you can actually offer the needful financial cover in the form of regular income so that they can maintain their standard of living after you as they do in your presence.

4. Clear DebtsRight now, you must behaving loans or any addition Emi that take away the huge part of your income. Have you ever thought, how would your family deal with the same in case of your demise? No! Then you must think again. Invest in an effective life insurance plan that will assist you in clearing your debts as well.

Benefits of Life Insurance

There are multiple benefits that you will get with the life insurance plan. We have stated the top ones to assist you in taking decision.

  • Security We never know what is waiting for us in future because life is unpredictable. Life Insurance helps you with necessary cover if any unfortunate thing happens. When you are not there to take care of your loved ones, a life insurance plan will offer the needful offer financial security. It will help your family members inmaintaining their lifestyle.
  • Assists to maintain the standard of life A life insurance policy can also alternate the income earned by the breadwinner of the family in their absence.
  • Improve credit score When it comes to civil score, everyone want to improve the same and the life insurance is one of such way that can help you in that. When you make timely payment of the same, it will surely affect your credit rating.
  • Tax benefits Life insurance schemes come out with tax benefits. Yes, you can avail tax exemptions under the Section 80C of the Income Tax Act.

Choose The Right Life Insurance Plan

To choose the best life insurance plan, there are afew things that you have to do:-

Check your needs first: Before going to buy effective life insurance plan it is very important for you to first understand your needs that why you want a life insurance plan, how much would be enough, what you should get in cover, etc. This will help you in having a clear idea about the plan that you are looking for and this will also assist you in comparing available plans. Under the same, you must make sure that you are thinking about the sufficient cover, financial assistance, etc.

Inflation rate: While you areanalyzing your needs of having an effective life insurance plan, don't forget to keep the present inflation rate in mind. This is because the sum assured that you are considering while keeping the present expenses in mind will not be able to meet the future needs sufficiently. Just to avoid this confusion, keep the inflation rate in mind and select an amount that can beat the future emergencies easily.

Compare: After having a rough estimate about the desired life insurance policy, it is advisable for you to compare available plans on the basis of premium, inclusions, exclusions, benefits and much more. With the same, you will be able to choose the best plan that can easily go well with your needs.

Last updated on 14-09-2020