This term insurance premium calculator considers different factor such as current income, age, marital status, debts, number of dependents, and medical conditions to help you select an insurance policy that best fit your requirements and life objectives. Read on to know more about HDFC Term Insurance for NRI Premium Calculator:
Why Should You Use HDFC Term Insurance For NRI Premium Calculator?
Before buying a term plan, insurance buyers would like to understand the term plan premium rate to plan their finances accordingly. The term plan premium price is impacted by a number of parameters and it varies from person to person and insurer to insurer. The algorithm used while calculating the premium using a term insurance calculator is very difficult to use manually. Most insurers offer term plan premium calculators for their clients. After entering basic details, buyers can easily find out the prices of the specific plan they want to purchase. Once rates are displayed on the screen, buyers can contact the company if the premium prices suit their budget.
How To Use an HDFC Term Insurance For NRI Premium Calculator?
Step 1: Visit the official website of HDFC Life Insurance
Step 2: On the home page, select ‘Useful tools and calculator’
Step 3: You can find the list of different calculators such as the Save tax calculator, human life value calculator, retirement planner, etc.
Step 4: For term insurance plans, use the calculator available with individual policies
Step 5: Click on Term Plans on the home page
Step 6: Then, click on ‘Calculate Premium’
Step 7: Enter various details such as gender, name, mobile number, date of birth, tobacco usage, email-ID, location, NRI status, etc.
Step 8: After submitting all these basic details, the insurance company will calculate the term plan premium cost and provides you the customized results.
Benefits of Using an HDFC Term Insurance For NRI Premium Calculator
The following are the benefits of using HDFC Term Insurance for the NRI Premium Calculator:
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Choose the right cover amount
HDFC Term Insurance For NRI Premium calculator provides you an estimate of the amount of life cover that helps cover your family’s financial requirements and liabilities and the premium amount payable under the term insurance plan. The selection of cover depends upon different parameters such as existing liabilities, annual income, number of dependents, marital status, and other factors.
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Cost-Saving
Using an HDFC Term Insurance For NRI premium calculator, you can avail of the highest possible amount of life cover that suits your budget.
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Informed Decision
By giving you the right estimate of the life cover that you will require under your term insurance plan, an HDFC Term Insurance for NRI Premium calculator helps you make an informed decision.
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Compare different NRI Term Plans
The term insurance premium calculator provides you the option of comparing different policies and choosing the right.
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Helps in Financial Planning
The term plan calculator also helps you know the premium amount to be paid immediately. Once you get to know the premium that you have to pay on a regular basis as premiums, you can then accordingly plan your budget. Having a good financial plan for your HDFC term plan will help you avoid cases such as missed premium payments.
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Coverage Details
The HDFC Term insurance for NRI premium calculator can help you determine whether the policy provides sufficient financial coverage to your family members in case of an unforeseen event. In case the coverage is not adequate, then you have the option to adjust the premium amount payments and increase the coverage.
Factors Affecting the HDFC Term Insurance for NRI premium Rates
The following parameters play an important role in determining HDFC Term insurance premium rates:
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Age: The older you are, the higher your term insurance premium rate. With a young person, there is a lesser chance of falling ill because of lifestyle diseases that occur with age or premature death.
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Gender: The average life expectancy of a woman is higher than that of men. This means that women can avail of lower premiums in comparison to men of the same age.
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Smoking Habits: Smokers are most likely to develop certain ailments such as heart diseases and lung cancer than non-smokers. This is why the term insurance premium rates for smokers are more in comparison to non-smokers.
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Lifestyle Habits: Your way of living impacts the term insurance premium rate. For example, if you consume alcohol on a regular basis, Individuals having a poor lifestyle habit are generally charged a higher premium price than individuals of the same age and gender who have good lifestyle habits.
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Policy Term: The longer the policy tenure, the more the sum assured amount and increased premium amount for the term plan.
