Term insurance for NRI premium calculator is a useful online tool that calculates the yearly/quarterly/monthly term insurance premium amount NRIs need to pay towards the term insurance plan. This NRI calculator considers different factors like age, lifestyle habits, and yearly income, which helps you select the right term insurance policy to financially secure your loved ones.Read more
The NRI Term insurance premium calculator helps to find out the premium amount you need to pay to the insurance company for your term plan. It helps in estimating the sum assured amount that you would need and how much you will have to pay for it to protect a good future for your loved ones.
NRI term insurance premium calculator helps you determine the term coverage and the insurance premium amount payable to make your loved ones financially protected in case of uncertainty who are living back in India. The sum assured amount selected by an NRI should always be significant enough and the premium amount should be affordable. This calculator provides the monthly/yearly premium payable amount for the desired term cover based on the parameters below-mentioned:
Life cover amount
Type of term insurance
Option to choose riders
Following are some of the benefits of using Term Insurance for NRI Premium Calculator:
NRI Term insurance premium calculator gives you the calculation of the life cover amount that helps cover your family’s financial requirements, liabilities, and the premium paid under the insurance plan.
Using an NRI Term insurance premium calculator, you can buy the highest possible life cover amount at affordable premium rates that suit your financial budget.
With the Term life insurance for NRI calculator, you can easily buy plans online from the comfort of your residential country. As compared to the earlier process of getting premium rates by physically visiting the office or branch of the insurer, this online tool can help you search for the best plan within a couple of minutes. After finalizing the plan, you can directly buy it online without the involvement of any intermediaries or agents.
The term insurance for NRI premium calculator displays a number of plans that have been designed as per the requirements specified by you. This helps you to compare premium and coverage options before purchasing, thus making your buying decision much more informed and important to your lifestyle.
The NRI Term plan calculator also helps you calculate the premium to be payable regularly. After determining the amount you have to pay regularly as premiums, you can plan your financial budget accordingly. With a good financial plan.
Gender: The premium rates for term insurance plans are lowest for female lives in comparison to males as women have a higher life expectancy.
Age: Young individuals are expected to be healthier, more active and live longer, because of which term insurance premium rates are significantly lower as compared to older individuals whose health conditions are not that good. Thus, the older you are, the higher the term insurance premiums will be.
Lifestyle habits: Lifestyle practices like drinking, smoking will increase your premium rates by a large amount as regular drinking, and smoking reduces life expectancy through diseases, resulting in early death.
Medical examination costs: NRIs can purchase a term life insurance plan in foreign, where they will have to undergo a medical checkup and send the medical reports to the insurance company in India. In such cases, they will have to pay the medical examination costs. On the other hand, if they buy the plan in India, they will not have to pay extra medical examination costs.
Chosen sum assured: The sum assured amount you select is directly proportional to the premium amount i.e., the higher the SA, the higher will be the premium rate of your term life insurance plan. In addition to this, the choice of SA should be based on your requirements, total income, existing liabilities and other factors.
Premium payment term: You get the flexibility to select from different premium payment options as per your requirements like regular pay, limited pay or pay till specific age.
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Following are the 4 simple steps to calculate the coverage details you need from your term plans:
Step 1: Enter your details such as your Name, Date of Birth, Gender and Mobile number (choose your country code) on the Term insurance calculator page.
Step 2: Click on ‘View Plans’ and answer some questions:
Lifestyle habits such as smoking or non-smoker
Occupation Type such as Salaried or Self-employed
Step 3: Choose Policy Related Information as per your requirements such as:
Amount of life cover
Policy term (Cover till age)
Premium payment term (Limited period pay)
Premium payment mode i.e., Yearly//Monthly
Step 4: Choose from the following available riders (optional):
Critical Illness Benefit
Accidental Death Benefit
Accidental Disability Benefit
Waiver of premium
Step 5: Compare Term Insurance Plans
After submitting all the requested details, the term plan calculator will display some suitable term plans as per the details provided. Compare the plans and choose the best term insurance plan using the term insurance calculator. Then, proceed to buy.