Prices Increasing soon Prices Increasing Soon

50 Lakh Term Insurance Plan Premium Calculator

Term insurance protects the financial needs and lifestyles of your family in your absence. A Rs. 50 lakh term insurance helps you create a financial cushion for your family in case of an unforeseen event. When buying a term plan, you have to pay a fixed premium to the insurer in return for the amount of life cover they offer. This amount of premium differs from one term plan to another and, it also varies from one life insurer to the other.

Read more
Gets ₹1 Cr. Life Cover at just
COVID-19 Covered
The Policybazaar Advantage
Dedicated claim support for family FREE
Upto 10% discount for buying online
Only certified experts will call you on 100% recorded lines
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

By clicking on "View plans" you agree to our Privacy Policy and Terms of use

~Source - Google Review Rating available on:-

Life is Unpredictable! Protect your family’s future
Get ₹1 Crore Life cover starting from ₹384/month+
We don’t spam
Check Your Premium Now
Please wait. We Are Processing..
Get Updates on WhatsApp
The Policybazaar Advantage
Policybazaar Advantage Icon
Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
Policybazaar Advantage Icon
100% calls recorded to ensure no mis-selling
We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
Policybazaar Advantage Icon
Exclusive lifetime discount upto 5% for buying online
The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
Policybazaar Advantage Icon
Advisors available in your city
Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
Policybazaar Advantage Icon
Refund at the click of a button
In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

So how do you determine the premium amount you will need to pay and form a well-versed decision about which term insurance plan to buy? Here is what a 50 lakh term insurance plan premium calculator comes to your help.

What is a 50 Lakh Term Insurance Plan? 

Term insurance is the purest and simplest form of life insurance. It is an agreement between the insurance company and the policyholder, wherein in case of the policyholder’s unforeseen demise, a specific sum is paid to the family of life assured by the insurer. 

A 50 lakh term insurance plan is a term plan with a sum assured amount of Rs 50 lakhs, which is provided to the nominee as a death benefit, in case of unforeseen demise of the policyholder anytime during the term of the policy. This type of term insurance plan may come with a high sum assured amount but the premiums rates are low. They ensure long-term financial support for the policyholder and his/her family member in difficult situations. To calculate the premium of 50 lakh term insurance online 50 lakh term insurance plan premium calculator is used. 

50 Lakh Term Insurance Plan Premium Calculator 

A 50 Lakh Term Insurance Plan Premium Calculator is a freely available online tool that is developed to calculate the premium amount that you are required to pay for the desired policy benefits and insurance coverage such as for the sum assured of Rs. 50 Lakhs. A term insurance premium calculator takes certain factor such as age, current income, loans, debts, health conditions, marital status, and the number of dependents into consideration to select an insurance plan that rightly fit your needs and life objectives. 

These calculators are quite simple and easy to use and you can compute the premium amount in a few clicks. It is always a good idea to use a term insurance plan premium calculator before actually purchasing a term insurance plan. This way, you can easily plan your investments/ finances and set apart sufficient money for term plan premium payments, thus your beneficiaries/dependents have an adequately strong financial security net in case of unforeseen demise.  

Benefits of 50 Lakh Term Insurance Plan Premium Calculator

Let’s take a look at the various benefits of a 50 Lakh Term Insurance Plan Premium Calculator:

  1. Budgeting becomes easier

    With a term calculator, one can get a fair valuation of the premium amount you are required to pay for the cover that you seek out. This makes it convenient for you to plan a financial budget and keep aside the premium amount you would require on a monthly or yearly basis depending on your risk appetite. 

  2. It helps you choose the right amount of cover

    A term insurance plan premium calculator provides you an estimate of the life cover that helps cover your obligations, liabilities, and your loved one’s financial requirements and the premium payable under the term insurance plan. The selection of coverage depends on different factors such as annual income, current liabilities, number of dependents, marital status, and others. 

  3. Cost-Saving

    Using a term plan premium calculator, you can opt for the highest possible amount of life cover that suits your budget such as Rs. 50 Lakhs. It is a free-of-cost online tool that gives results in a few clicks. 

  4. Comparing policies is now easy

    With the help of a term insurance calculator, you can easily compare, analyze, choose and go through all the terms and conditions, and benefits of 50 lakh term insurance policies. 

  5. Hassle-free and time-saving

    While comparing the term plans using online calculators, you are not required to submit any documents. You get a premium rate for a 50 lakh sum assured within a short time and then you can decide whether to buy or not. 

Five things to know before buying Term Plan Five things to know before buying Term Plan

How To Use 50 Lakh Term Insurance Plan Premium Calculator? 

There are number of insurance providers competing with each other and each one of them has different processes of calculating the term insurance premium. Here’s a quick laydown of the step to step guide: 

Step 1: Enter personal information such as date of birth, marital status, gender, age, annual income, number of children, life cover, etc. You may also be asked about your smoking habits. 

Step 2: Enter the desired sum assured amount for a specific tenure i.e.. 50 Lakhs. You would also need to choose the mode your family wants to receive money: one-time payment or monthly income. 

Step 3: Then, the term insurance calculator will display good term insurance plans as per the details provided by you. Compare and choose the right plan that suits your requirements and proceed to buy. 

Why Buy Term Life Insurance from Policybazaar Why Buy Term Life Insurance from Policybazaar

Factors Affecting the 50 Lakh Term Insurance Plan Premium 

Computing term insurance is a thorough process that depends on many factors. As discussed, you will need to fill in some basic information when using a term insurance plan premium calculator. Let’s get into the details: 

  1. Age

    Age is one of the important parameters that 50 lakh term insurance plan premium calculators use to calculate the premium chargeable for a policy. The lower the applicant’s age, the lower the premium amount is likely to be. It is better to buy a term plan at a young age. 

  2. Gender

    As per the research, women be likely to live longer than men. So some insurers charge lower premium rates for women than men because the probability of men living longer is lower. 

  3. Medical History 

    In various situations, you will also be required to submit information about your medical history while purchasing a term policy. Any critical illness record, any disease or family history such as Alzheimer’s disease or cancer, diabetes can charge higher term insurance premium rates. 

  4. Lifestyle

    Various term calculators are also required to fill in the personal details related to your lifestyle such as smoking habits, consuming alcohol, or not. Individuals with poor lifestyle ways are usually charged a higher premium than an individual of the same gender and age having better lifestyle habits. 

  5. Policy Tenure

    The simple formula to compute the coverage of term insurance is that it depends on the annual income and age of the policyholder. The amount chosen as sum assured should be sufficient enough to cover the family’s requirements in your absence. 

  6. Premium payment term (PPT)

    Some term plans need you to pay the premium rates throughout the policy tenure. Others have the option to pay a premium amount over a limited period. The former charges a lower premium than the latter.

Different types of Plans

Premium By Age

Term insurance articles

  • Recent Article
  • Popular Articles
22 Feb 2024

Tata AIA 50 Lakh Term Insurance

Ensuring the financial well-being of your family requires

Read more
22 Feb 2024

SBI Life 75 Lakh Term Insurance

SBI Life Insurance Company offers a variety of sum assured to

Read more
22 Feb 2024

Kotak 50 Lakh Term Insurance

Securing your family's financial future involves detailed

Read more
22 Feb 2024

SBI Life 70 Lakh Term Insurance

Many people are confused about the ideal life cover amount and

Read more
22 Feb 2024

PNB 50 Lakh Term Insurance

Securing your family's financial stability involves thoughtful

Read more
07 Mar 2014

1 Crore Term Insurance - Buy ₹1 Cr Term Insurance Plan...

Term insurance is a type of insurance plan that offers financial security to your loved ones in the event of your

Read more
27 Jun 2018

What Is Difference Between Term Insurance And Life Insurance

Life insurance plans help you create wealth, protect your family for the entire policy term, and save on your

Read more
12 Jun 2018

Claim Settlement Ratio of Term Insurance Plan Providers

Claim Settlement Ratio (CSR) is an important parameter in the selection of an insurance policy. If you are going

Read more
24 Mar 2020

LIC Term Insurance 1 Crore

LIC of India offers various plans to help you secure the financial future of your loved ones. To ensure your

Read more
20 Aug 2014

Term Insurance for Women in India

Term insurance for women is a type of life insurance specifically designed for fulfilling women’s needs and

Read more
Download the Policybazaar app
to manage all your insurance needs.