SBI Term Insurance Calculator

SBI Life insurance is one of the most popular insurance providers in the country, which offers a host of protection oriented plan to cater to the various requirements of the buyers. The Term insurance policies offered by SBI Life Insurance provides high insurance coverage to the family of the insured at a lower premium rates. The premium rate of these policies are determined based on various factors like age, smoking habits, income, etc. To evaluate the approximate premium rate of the policy, the insurance buyers can make use of SBI term insurance calculator.

Read more
Get ₹1 Cr. Life Cover at just ₹411/month*
No medical
checkup required
Save more with
upto 10% discount**
Tax Benefit
Upto Rs. 46800
Life Cover Till Age
99 Years
8 Lakh+
Happy Customers

*Tax benefit is subject to changes in tax laws.

**All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Get ₹1 Cr. Life Cover at just ₹411/month*
No medical checkup required
Save more with upto 10% discount**
Covers COVID-19
View plans
Please wait. We Are Processing..
Get Updates on WhatsApp
By clicking on "View plans" you agree to our Privacy Policy and Terms of use & consent to Policybazaar to access your credit report

Let’s read further to know in detail about SBI term insurance calculator.

Why Insurance Buyers Must Use SBI Term Plan Calculator?

The premium rate of term insurance policy varies from person to person. It depends on different factors like age, income, the sum assured amount, location,  smoking habits, medical history, etc. It can be difficult for insurance buyers to calculate the premium rate of the policy manually based on these factors. The term insurance premium calculator is an online tool that helps the insurance buyers to evaluate the premium rate of the policy in a simple and hassle-free way. Moreover, by using SBI term insurance premium calculator, one can also save time and money.

Why buy Term Insurance early?

Your premium is decided on age at which you buy the policy and remains same, throughout your life

Premiums can increase between 4-8% each year after your Birthday

Your policy application could be rejected or premiums increase by 50-100%, if you develop a lifestyle disease

See how age affects Term Insurance Premiums
See how age affects Term Insurance Premiums
Premium 479/month
Age 25
Age 50
Buy Today & Save Big
View Plans

Process to Use SBI Term Insurance Calculator

An individual will need to follow the below mentioned steps to use SBI term Insurance Calculator.

  • Visit the official website of SBI i.e.
  • On the home page, under the products option click on the individual life insurance plan option.
  • Click on the plan that you want to buy.
  • After that you will be redirected to new page where you will find the information related to the plan.
  • On top of the plan page, click on the button to compute the premium amount.
  • Once the premium calculator is open, you will need to enter the required information like policy term, desired sum assured amount, date of birth, premium paying frequency, smoking habits, gender, etc.
  • After entering the details click on calculate premium.
  • The approximate premium amount of the policy will be displayed.
Best term Insurance Plans in India

What are the Benefits of SBI Term Insurance Premium Calculator?

The following are the benefits of SBI Term Insurance Calculator

  • This is an online tool, which is free of cost.
  • The premium calculator helps to evaluate the approximate premium rate of the policy in a simple and hassle-free way.
  • With the help of term insurance premium calculator, an individual can compare the quotes of various plans and choose the best suitable plan at a lower premium rates.
  • It also helps to evaluate the amount of coverage one will need to secure the future of their family.

Benefits of Buying SBI Term Insurance Plans

The following are some of the benefits if buying SBI term insurance plan.

  • Provides financial security to the family with a higher sum assured amount. 
  • The term insurance plan offered by SBI life insurance offers different plan options to choose from.
  • The plan offers flexibility in paying premiums. 
  • The insurance holder can choose different payout option as per their requirement and suitability. 
  • An individual can also gain the benefit of tax saving U/S80C and 10(10D) of the IT Act. 

Term Insurance Premium Rates

The premium rates of term insurance policy is the cost that an individual has to pay for purchasing an insurance policy. The term insurance premium rates are determined based of various factors. These are the two main factors that governs the premium rate of an term insurance policy.

  • Mortality Rate: is an insurer‘s anticipation of deaths among a particular group of insured lives at certain ages.
  • Expenses: A term insurance policy’s gross premium is calculated as net premium + loading. The net premium depends on the mortality rate, investment earnings, and the lapse rate and loading are the company‘s operating costs.


Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 0 Reviews)
Sign up for newsletter
Sign up our newsletter and get email about term plans.

Term insurance articles

Recent Articles
Popular Articles
Regular Term Plan or Return of Premium? What to Choose?

22 Sep 2021

Term insurance policy is one of the purest forms of policies...
Is Your Term Insurance Valid If You Move Abroad?

20 Sep 2021

Term insurance is the most effective way of providing security...
Term Insurance Plans with Premium of 25 Lakh: Know The Details!

20 Sep 2021

In today’s times, it is essential to take care of one’s...
What to Do with Your Term Life Insurance at the End of Term?

20 Sep 2021

The best time to purchase a term policy is in your mid-twenties...
What is the Ideal Term for Term Insurance?

20 Sep 2021

Life is full of unpredictability; anything can happen anytime...
Types of Deaths Covered & Not Covered by Term Life Insurance
Types of Deaths Covered and Not Covered by Term Insurance When it comes to securing the future of your loved ones or...
Why Medical Test is Important in Term Insurance
Why Medical Test is Important in Term Insurance ‘No medical tests required’, you will find this clause blatantly...
10 Questions You Should Ask Before Buying Term Insurance
10 Questions You Should Ask Before Buying Term Insurance There are various doubts faced by customers when it comes...
Term Insurance for NRI in India
Term Insurance for NRI in India Term insurance offers financial protection to the family of insured in case of...
6 Reasons Why Term Insurance is a Must Buy
6 Reasons Why Term Insurance is a Must Buy Life is short and one can never foretell what the future holds. To make...
Download the Policybazaar app
to manage all your insurance needs.