Home›Insurance Tools›Term Insurance Calculator
Term Insurance

Term Insurance Premium Calculator

Estimate your term life insurance premium based on age, sum assured, policy tenure, and smoking status — and see the leverage a term plan offers.

Advertisement

📄 Enter Policy Details

30y
30Y
Best time to buy: In your 20s — a ₹1Cr policy at age 25 costs ~₹8,000/yr vs ~₹18,000/yr at age 35
Claim Settlement Ratio: Always check CSR before buying (aim for 98%+)

📊 Estimated Premium

Enter details and click Calculate
⚠️

Disclaimer: Premium estimates are indicative only, based on typical market rates. Actual premiums vary by insurer, city, medical underwriting, and specific policy terms. Always compare quotes from multiple insurers and read policy documents carefully before purchasing.

Why Term Insurance Offers Such High Leverage

Term insurance is pure protection — no savings or investment component — which is exactly why it offers the highest coverage per rupee of any life insurance product. Premium depends primarily on your age at purchase, the sum assured, policy tenure, and smoking status (smokers pay meaningfully more due to higher mortality risk).

Worked Example

A 30-year-old non-smoking male buying ₹50,00,000 cover for a 30-year tenure: estimated premium ≈ ₹5,500/year (about ₹458/month). Over the full 30-year term, total premiums paid (₹1,65,000) amount to just 3.3% of the sum assured — a 30x leverage ratio that's simply unmatched by any investment-linked insurance product.

Frequently Asked Questions

Because it has no savings, investment, or maturity payout component — if you outlive the policy, you receive nothing back. That's precisely the trade-off: you're paying purely for risk protection, not building cash value, which is why the same premium buys 10-20x more coverage than an equivalent ULIP or endowment plan.
Use our dedicated Life Insurance Calculator to size your coverage precisely based on income replacement, outstanding loans, and future goals — a common rough guideline is 10-15x your annual income, but your actual need depends heavily on dependents, debt, and financial goals.
Insurers price term insurance based on mortality risk, and smoking is one of the strongest statistical predictors of reduced life expectancy — smokers typically pay 50-100% more than non-smokers for identical coverage. Quitting smoking for a sustained period (usually 12+ months) before applying, or before your next renewal underwriting, can meaningfully reduce your premium.
Advertisement