A Term Insurance Calculator is a digital tool that estimates the premiums for the desired life cover (sum assured) based on your financial and personal needs. It provides the approximate premiums of your term insurance and ensures that it is aligned with an individual's income potential, liabilities, and dependent responsibilities.
Dhruv, a 25 year-old man, earning 10 Lakhs per annum, wishes to secure his family's future with Term Insurance till he turns 60 years of age.
Dhruv wants to buy term plan of 1 Crore life cover, within a specified budget. But he is confused about how much term insurance premium he would need to pay.
He uses the Term Insurance Calculator and enters his age, cover till age, required life cover, gender and clicks on 'Check your Premium'
Dhruv got an estimate of the premiums for him in a few seconds from term insurance calculator, which helped him make an informed decision
A Term Insurance Calculator helps individuals make informed decisions about the suitable life cover. Instead of guessing how much term insurance you need or manually calculating, this term plan calculator uses your financial details to give a personalised estimate of the premium for the right sum assured.
Allows you to customise the life cover and instantly check premiums for different options, ensuring your family's future is completely secured without being underinsured. This matters because most people guess wrong. According to Policybazaar's How India Buys Insurance 2.0 report, 87% of non-buyers underestimate how much money their family would need.
Automates complex financial models to provide instant, highly accurate results. Skip complex manual formulas and get quote estimates hassle-free.
Forecasting your premiums helps map out monthly budgets clearly, allowing you to easily integrate term insurance protection into your wider wealth strategy.
Get transparent, real-time premium projections tailored to your age, lifestyle habits, and coverage goals to choose a plan comfortable for your budget.
With your accurate cover target resolved, comparison becomes seamless. Evaluate multiple term plans side-by-side with clear parameter breakdowns before purchasing.
Note: Understand what is term insurance first, and then make a well-informed selection to secure your family's financial roadmap.
A term insurance calculator is an online tool provided by insurance companies that helps people estimate the ideal cover for you. The term insurance calculator simplifies the process of understanding the right sum assured so that an individual can plan their family's financial protection accordingly and buy the term plan according to his/her needs and requirements.
The premium is calculated based on factors like your age, gender, sum assured, policy term, smoking habits, and occupation. The calculator combines these inputs with the insurer's mortality data to estimate an accurate monthly or annual premium.
A term insurance calculator estimates the premium for a chosen sum assured, while a Human Life Value (HLV) calculator estimates how much cover you actually need based on your income, liabilities, and dependents. They work best together.
What is Term Insurance?
Choosing the right life cover is important as it is the amount your family will receive in the event of your unfortunate demise. Thus, the sum assured amount should be enough to cover your family's financial needs in your absence. You can use our Human Life Value Calculator to estimate the appropriate life cover. The How India Buys Insurance 2.0 report cites expert guidance of 15 to 20 times annual income, so that dependents can sustain themselves for at least 10 years. For example, if you are a 30-year-old earning ₹10 lakh a year, a cover of ₹1.5–2 crore would be appropriate.
Calculate your ideal premiums using our secure term insurance calculator in 4 simple steps:
Visit Policybazaar's term insurance calculator page to begin your personalized estimation.
Enter Basic Details like your age, gender, smoking habits, required life cover, and cover duration.
Click on 'Check your Premium' to instantly get the suggested premium amount for your profile.
Click on 'View Plans' to check, filter, and compare the absolute best term insurance plans.
A term plan is only useful if the payout is enough for your family. It should cover their daily expenses, your children's education and any loans left behind, such as a home or car loan. If the cover is too low, your family may struggle. If it's too high, you end up paying more premium than you need to.
A term insurance calculator helps you find the right balance. Say you're 30 and earn ₹10 lakh a year. You can check what ₹1 crore of cover costs, then see how the premium changes if you raise it to ₹1.5 crore or ₹2 crore, or extend your cover from age 60 to 70. Within a minute, you know which cover your family needs and which premium fits your budget.
That's why more people now check and compare online before buying. According to the 'How India Buys Insurance 2.0' report, 62% of buyers searched online for information and 52% used comparison websites, slightly more than the share who consulted an agent.
A Term insurance plan is a necessity for any person who is looking to secure their loved ones/dependents, such as their child, parents, spouse.Anyone with dependents or loans should consider a term plan to offer financial security to their family members in case of any crisis. The following individuals should consider buying a term insurance plan:
Young and working professionals
Newly married couples
Individuals having dependents such as children, parents
Individuals with outstanding liabilities such as car loan, home loan, personal loan
Senior citizens looking to create a tax-free legacy for their children
Apart from these, term life insurance plan can also be bought by housewives, self-employed individuals, NRIs.
Here are 5 simple steps to buy term insurance from Policybazaar:
Certain occupations involve higher risks, such as firefighters, construction workers, or pilots. Insurance companies may charge higher premiums for individuals in high-risk professions due to the increased likelihood of workplace accidents or health hazards. Not only that, but the type of occupation you work in also impacts your premium calculation. The term policy calculator may show higher premiums for term insurance for self-employed individuals than for salaried individuals, because of their unsteady source of income.
In both cases, insurers assess these factors to determine the level of risk associated with the applicant and adjust premiums accordingly. Smokers and those in high-risk occupations can expect to pay more for their insurance coverage.
Since business owners and freelancers often present fluctuating income streams, insurers utilize additional documentation like tax returns to verify stability, which occasionally leads to bespoke premium pricing models.
Steady, predictable monthly income backed by employer salary slips makes risk profiling highly standardized. This general predictability often qualifies salaried employees for faster approvals and streamlined premium rates.
The main benefit of using the term insurance premium calculator without personal information is that it does not require you to fill in your personal information like your name, contact details, and more just to give the approximate premiums for your desired term plan. It computes the required data and provides it in just a few simple steps.
The basic information required to evaluate your estimated premiums without entering any identity-disclosing personal details:
Here is a list of factors that affect your term life insurance rates:
The younger you are, the lower your premiums will be. The term insurance premium calculator will display a lower premium for individuals in lower age groups.
Women generally pay lower premiums than men because, on average, they live longer. According to the Office of the Registrar General of India, female life expectancy at birth (70.4 years) is about three years higher than that of males (67.8 years). Charged up to 20% lower premiums than men. Insurers offer lower premiums for female customers because of their increased life expectancy.
The higher the sum assured amount is, the higher the premiums will be. Opting for a larger life cover will require you to pay a higher premium.
Term insurance plans with longer policy term have high premiums
Adding each of the term insurance riders has an additional cost that increases the total premium
Smokers and tobacco users have to pay a higher premium than non-smokers
People with high risk jobs charged high term life insurance premiums.
A term insurance calculator generally uses the above data to get an estimate of the ideal cover and the premium amount you would have to pay. However, the final premium that is to be paid tends to differ case by case.
We all want to secure our families' future, even in our absence. A term insurance plan offers affordable protection, providing a large life cover at low premiums. In the event of the policyholder's death, the beneficiary receives a payout.
Term insurance ensures your family's financial needs are met and can help cover liabilities like home or education loans. Some plans also include coverage for critical illnesses.
| Policybazaar is a great fit if you | Consider alternatives if you |
| Want to compare multiple insurers' prices and features in one place before deciding | Already know exactly which insurer and plan you want — you can also buy directly from that insurer |
| Prefer digital-first buying with optional human help on call | - |
| Value free claims assistance and escalation support after purchase | Have a strong existing relationship with a bank/agent you trust for servicing |
| Want transparent, IRDAI-filed pricing with no extra platform fee | - |
| Want a single dedicated local agent who visits you in person for everything | - |
| Online discounts are offered | - |
| Dedicated Relationship manager that helps you in your claims process | - |
A term insurance calculator is an online tool provided by insurance companies that helps people estimate the ideal cover for you. The term insurance calculator simplifies the process of understanding the right sum assured so that an individual can plan their family's financial protection accordingly and buy the term plan according to his/her needs and requirements.
The premium is calculated based on factors like your age, gender, sum assured, policy term, smoking habits, and occupation. The calculator combines these inputs with the insurer's mortality data to estimate an accurate monthly or annual premium.
A term insurance calculator estimates the premium for a chosen sum assured, while a Human Life Value (HLV) calculator estimates how much cover you actually need based on your income, liabilities, and dependents. They work best together.
Aviva Smart Return of Premium Term Plan is a term insurance
Read more
HDFC Life Click 2 Protect Elite Pro is a pure term insurance
Read more
Kotak Protect Advantage is a Non-Participating, Non-Linked
Read more
Generali Central Saral Ashray Yojana is an individual pure risk
Read more
ICICI Life iProtect Smart Her is a term insurance variant
Read more˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
+On the basis of your profile
+Rs. 410/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10
+Rs. 410/month (Rs.14/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age rounded off to nearest 10
+Rs. 245 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10
+Rs. 15/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10
+Rs. 504/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 494/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 636/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 918/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,286/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 453/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs.582/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 786/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,592/month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 525/month is the starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 68 years of age.
+Rs. 668/month is starting price for a 2 crore term life insurance for an 25 year-old male, non-smoker, with no pre-existing diseases, cover upto 45 years of age.
+Rs. 1,200/month is starting price for a 2 crore term life insurance for an 35 year-old male, non-smoker, with no pre-existing diseases, cover upto 55 years of age.
+Rs. 410/month is starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 577/month is starting price for a 1 crore term life insurance for an 18 year-old Male, self employed, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.
+Rs. ₹361/month is the starting price for a ₹1 crore loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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