Term Insurance For NRI Premium Calculator

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. 

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What is Term Insurance for NRI Premium Calculator?

The NRI Term insurance premium calculator helps to find out the premium amount you need to pay to the insurance company for your protection plans. It helps in estimating the sum assured amount that you would need and how much you will have to pay for it to ensure a good future for your loved ones.

one crore term plan
plus

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day+

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day+

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day+

What Term Insurance for NRI Premium Calculator Do?

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 enough to cover your family’s financial expenses in your absence, and the premium amount should be affordable. This Term Insurance for NRI Premium Calculator provides the premium amount for the desired life cover based on the below information:

  • Life cover amount

  • Age

  • Policy term

  • Gender 

Benefits of Term Insurance for NRI Premium Calculator

Following are some of the benefits of using Term Insurance for NRI Premium Calculator:

  1. Helps in choosing the right cover and plan

    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.

  2. Cost-Saving

    The term life insurance for NRI premium calculator is available for use free of cost at the company website. The calculator can accurately estimate the applicable premiums for the required pure risk cover. Using an NRI Term insurance premium calculator, you can buy a large life cover amount at level term life insurance rates that suit your financial budget.

  3. Saves time

    With the Term life insurance for NRI calculator, you can easily buy pure risk cover 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 suitable protection plans, you can buy term plans directly online without the involvement of any intermediaries or agents.

  4. Compare Different Plans

    The term insurance for NRI premium calculator displays a number of protection plans that have been designed to fit the specific needs of the NRIs. This helps you to compare the different term insurance for expats based on their premium and coverage options before purchasing, thus making your buying decision much more informed and important to your lifestyle.

  5. Helps in financial planning

    The NRI Term plan calculator also helps you calculate the level term life insurance rates that you would need to pay on a regular basis. After determining the amount you have to pay regularly as premiums, you can plan your financial budget accordingly with a good financial plan.

one crore term plan

Secure Your Family Future Today

₹1 CRORE

Term Plan Starting @ ₹449/month+

Get an online discount of upto 10%+

Compare 40+ plans from 15 Insurers

+Standard T&C Applied

Factors Affecting the Term Insurance for Premium Rates

  • Gender: The premium rates for term insurance plan 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 and smoking will increase your premium rates by a large amount, as regular drinking and smoking reduce life expectancy through diseases, resulting in early death.

  • Medical Conditions: Your family’s medical history or your current illnesses can increase your level term life insurance rates as they increase the risk to your life. 

  • 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 for NRI. In addition to this, the amount of pure risk cover you opt for 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. The longer the premium payment term, the lower the premium will be. Also, the monthly premium for your protection plans will be much more budget-friendly than the yearly or semi-annual premium rates.

How To Use Term Insurance For NRI Premium Calculator?

Following are the 5 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

  • Annual Income

  • Occupation Type such as Salaried or Self-employed

  • Educational Qualification

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):

  • Accidental Death Cover

  • Terminal Illness Cover

Step 5: Compare Term Insurance Plans

After submitting all the requested details, the term insurance for NRI premium calculator will display some suitable term plans as per the details provided. Compare the available protection plans and choose the best term insurance plan for NRI using the term insurance calculator. Then, proceed to buy.


FAQs

  • Q: What is the maximum life cover I can get via tele/video medicals?

    Ans: You can get a maximum of 5 Crore life cover with term insurance for NRIs using the tele or video medical feature.
  • Q: Does NRI term insurance offer pre-approved cover?

    Ans: Yes, you can get pre-approved term insurance for NRI cover of up to 2 Crores. However, it is suggested that you use the term insurance for NRI premium calculator before buying the most suitable plan.
  • Q: Will my term insurance for NRI cover me anywhere I go?

    Ans: Yes, for the most part, an NRI term insurance will cover you wherever you go as per the specific policy’s and insurer’s T&Cs. However, you need to ensure that you keep the insurer informed of personal updates like address and phone number.
  • Q: Can I appoint anyone outside India as my nominee?

    Ans: Yes, in case your dependents or family members live outside India, you can appoint them as your nominee for NRI term insurance.
  • Q: How can NRIs pay their Term insurance for NRI premiums?

    Ans: NRIs can easily pay their premiums using NRE bank accounts in freely convertible currency. You can calculate the approximate premiums you would need to pay for the desired life cover using the term insurance for NRI premium calculator online.
  • Q: What are the rider benefits available under Term insurance for NRI?

    Ans: The following riders are available under the NRI term insurance in India:
    • Accidental Death Benefit
    • Terminal Illness Benefit
    • Critical Illness Benefit
    • Waiver of Premium on Disability
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