The current market of Life Insurance is loaded with myriad term plans accompanied by riders. Exide Life Insurance caters to the customers’ requirements of all-inclusive term insurance plans. The list of Exide Life Insurance products embraces protection plans, investment and savings plans, retirement plans, group business plans, and many more. Do you aspire to purchase one of the Exide Life Insurance Term Plans? You can make your assessment easier with the use of the Exide Life Insurance Term Plan Premium Calculator available on the official website of the insurer. Term plans offer the following benefits to the policy buyer.
The amount paid by the customer or the insured to get the coverage as a portion of any insurance policy is referred to as Premium. There are several factors that influence the sum to be paid as a premium. These factors vary for different insurers. If you are in the course of purchasing an Exide Life Term Insurance plan, then you must definitely use Term Insurance Plan Premium Calculators to gain more knowledge about how the premium is calculated by this insurer on their plans.
The Exide Life Insurance Term Plan Premium Calculator is a platform available online that automatically computes the premium amount for a policy preferred by the insured, considering various other factors such as gender, age, term of maturity of the plan, assured sum, etc. The customer can try out various combinations of policy terms and coverage provided to purchase a highly cost-effective plan that suits your requirement.
To compute the approximate premium that may be incurred for a particular term insurance policy of Exide Life Insurance, you can make use of Exide Life Insurance Term Plan Premium Calculator. Prior knowledge of the steps to be followed while using this online tool will add value to your research on the term plans. Below are the steps to be followed to make efficient use of the premium calculator.
Step 1: Access the official website of Exide Life Insurance.
Step 2: Scroll down to the bottom of the page to find the clickable tab “Get the Quick Quote.” Under this section, you will be able to see the Term Plan Premium Calculator.
Step 3: Click on the Term Plan Calculator.
Step 4: Enter the details of your requirement of the term plan. On submission of these details, you will be redirected to another page asking for your personal details.
Step 5: Enter accurate personal details and click on the “Finish” tab to submit the details that you have entered. The tool returns a pop-up stating an estimate of the premium that you may have to pay for the plan that you have selected.
Let us consider a few example scenarios of premium calculation in Exide Life Insurance plans for a better understanding. The table below describes the premium variations for an Exide Life Elite Term Insurance Plan, which has a policy term of 30 years and offers a life cover of Rs. 1 Crore.
The premium values calculated by the online Exide Life Insurance Term Plan Premium Calculator are estimate values. There may be variations of this value from the actual figures. You can get the best approximation by furnishing true and accurate information.
The use of the online Exide Life Insurance Term Plan Premium Calculator has several advantages. A few of them are listed below:
A certain set of important details that the aspirant policyholder must have while using the Exide Life Insurance Term Plan Premium calculator include the following personal details and plan requirements:
The Exide Life Insurance Term Plan provides the buyers with a substantial life insurance cover at an affordable premium sum. In addition to this, there are several key benefits offered by the Exide Life Term Insurance plans as listed below.
The amount to be paid as a premium for any of the Exide Life Insurance Term Plans depends on several variables. It would be best if you have a brief idea of the influence of these variables on the premium amount before you use the online Premium calculator tool. A few significant factors that decide the premium value are:
Life cover is the primary factor that decides the value of the premium to be paid for a particular term plan with Exide Life Insurance. It refers to the amount guaranteed to the nominee in cases of the policy holder’s unexpected demise. The premium value is directly proportional to the life cover sum. The higher the life cover amount, the higher the premium to be paid.
Another important factor that determines the premium amount for a particular Exide Life Insurance Term plan is the policy holder’s age. The earlier you purchase the policy and start paying the premium, the lower the premium value. In other words, a younger policyholder pays a lesser Premium as compared to the aged policyholder.
The lifestyle practices and habits of the policyholder also determine the premium amount of a particular Exide Life Insurance Term Policy. A healthier person or a non-smoking policyholder is offered a lower premium rate, whereas a policyholder with poor health or smoking habits may end up paying higher rates of premium for any term insurance plan of Exide Life Insurance.
Women usually have a longer lifespan than men. There is scientific evidence to substantiate this fact. Hence, women are offered lower premium rates in contrast with male policyholders. Therefore, gender matters while determining the premium value for a particular term policy.
In comparison with all other life insurance plans offered by Exide Life Insurance, the term insurance plans are cost-effective because they incur fewer expenses. The logic behind the Exide Life Term Insurance Policies remains simple. In case of the sudden demise of the policyholder within the policy term, then his/her family will be entitled to the amount described as the life cover under that policy. Such policies are pure protection plans, and hence, the policyholder or his family will not gain any maturity benefits at the close of the policy term.
The Exide Life Insurance Term Plan Premium Calculator assists the policy buyers to compute the payable premium for a particular term policy. This online tool determines the premium value based on the age, gender, and lifestyle habits of the expectant policy buyer in addition to his/her requirements of life cover and policy term. You can purchase the most affordable policy with maximum life cover and other policy benefits by using the premium calculator of Exide Life Insurance.
A1. The online premium calculator tool offered by Exide Life insurance computes an estimated sum of the payable premium as per the details of the policy requirements you have entered. These approximate values have variations from actual figures. However, it helps you to work on your budgets and compare different plans to choose the best one.
A2. The premium values for smokers are usually higher than that of non-smokers. However, the premium values may also depend on your health conditions and age.
A3. Riders are the extra benefits that are added to the purchased policy as per your requirement, and hence it attracts an additional cost.
A4. Choosing appropriate life covers has a crucial role to play while purchasing the Exide Life Insurance term Plans. You must evaluate your family’s overall income, the dependency of your family on your income, the financial goals of you and your families, and your affordability to purchase a plan. If you are inefficient in evaluating the life cover that suits you, try out the Human Life Calculator of Exide Life Insurance.
A5. Yes. The premium rates of online term plans are lesser because of the non-involvement of insurance advisor and documentation costs.
A6. The Exide Life Insurance Term Plan Premium Calculator can estimate the premium values for the term insurance products offered by Exide Life Insurance only. However, you can check the premium estimates of other insurers on their respective official websites.
A7. No. The term plans do not offer any maturity benefits.
A8. Yes. A medical test is a mandatory process to know the health condition of the policy buyer at the time of purchase. The person’s health condition influences the premium rate of a particular plan.
A9. There is no fixed time limit or age restriction to purchase a term insurance plan from Exide Life insurance. However, it would be best if you can purchase a plan as early as possible. The lower the age of the policyholder, the minimum is the premium value. Moreover, when you get married, and you have a financial dependent, the purchase of a term plan becomes a mandate.
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*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.