Aegon Term Insurance Premium Calculator

Life is uncertain. You can never know what can happen to you in the future. So, it's best to secure your life with a term insurance plan. It provides sufficient coverage at low premiums and is easy to avail. If you are looking to purchase a term insurance plan from Aegon, consider using the Aegon term insurance premium calculator. It will help you know how much premium you should pay. This article will provide all the details about the Aegon premium calculator. Take a look.

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How to Use The Aegon Term Life Insurance Premium Calculator

When calculating the premium, there are many things to consider, including your income, age, and lifestyle. However, the steps below will help you calculate how much you should pay for the insurance. A term insurance calculator will help you determine how much premium you need to pay, based on the amount of coverage you choose.

You need to follow the below-mentioned steps to use the Aegon term, insurance calculator:

  • Provide your personal information like name, age, yearly income, date of birth, mobile number, gender, and whether you smoke or not. 
  • Enter the sum assured (the amount you want your beneficiary to claim) of your plan. 
  • Click on ’Know Your Premium’
  • Select the coverage tenure (50 or 80 years)
  • The term plan calculator will then suggest plans with different premium rates based on the information you provide.
  • Choose the plan that suits your requirements and then click ‘Continue’ to Buy.

Why Is It Good To Use The Aegon Term Insurance Premium Calculator

There can be many reasons why you need an Aegon term insurance premium calculator. You may need to be convinced that the premium charges are justified against the sum assured. There are other benefits of using this calculator; these are listed below:

  • You can compare different plans: You can use the Aegon term calculator to compare different plans offered by an insurer, including the cost for each type of plan, the sum insured amount, riders, and so forth.
  • The plans are cost-effective: The insurer offers an online purchasing option after comparing the plans. Online plans are usually cheaper than offline plans. The Aegon premium calculator allows you as a potential policy buyer to choose a reasonable option.
  • Quick Policy Purchase Process: Online premium calculators eliminate the need to send documents or speak with agents. It takes just a few minutes to complete the simple task of policy purchase.

Need for a Premium Calculator

An agreement between an insurer and an insured is an insurance policy. The insurer promises to cover the insured's risk in exchange for a nominal premium. The premium paid by an insured to an insurer is dependent on many factors. It can vary from one insurer to another. It is almost impossible to calculate the premium that a person will pay. Aegon term calculator helps prospective policyholders determine how much they will have to pay for their selected plan.

Wrapping Up

The term insurance premium calculator is an easy tool to use to determine how much your term insurance premium will cost on a monthly, quarterly, or yearly basis. This tool will allow you to plan and determine when you can invest in a term plan. Moreover, this premium calculator is quick and accurate, providing exact information about the premium payable.

FAQ's

  • Q. Is it free to use the Aegon premium calculator?

    A. Yes, it is completely free to use. All you have to do is go to Aegon's term insurance calculator website, provide necessary details (name, email, mobile number, etc.) and choose the sum assured. When you click on the calculate button, it will provide you with the premium estimate.
  • Q. How to use a term life insurance calculator?

    A. You can use it 3 simple steps:
    • Step 1: Provide your personal information
    • Step 2: Enter the sum assured you wish to avail
    • Step 3: Provide details about approximate income increase per annum.
    You can then compare different plans and select the one that fits your requirement. 
  • Q. What are the benefits of using the Aegon term calculator?

    A. You can get an exact idea of the coverage you will get and the premium amount you will have to pay. This will help you make an informed decision and plan your budget accordingly. You can also discuss any questions you have regarding the premiums with your agent. If you opt to buy term insurance without using a calculator, you may have to pay more than you should. 
  • Q. How is term insurance coverage calculated?

    A. Consider using this simple formula to estimate your income replacement amount:
    (Present yearly income) x (Total years till you retire) = Coverage you need.
    Example:
    Let us assume that you are 40 years old. You earn 15 lakh rupees annually, and you want to retire at 60 years of age. So, an ideal cover for you could be (15 lakh rupees) x (20 years left till retirement) = 3 crore rupees.
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