Term Insurance Premium Estimator
Estimate the annual and monthly premium for a term life insurance cover.
Estimate only — an indicative premium, not a quote. Actual premiums depend on the insurer and medical underwriting.
An estimate, not a quote
This tool gives a rough estimate of a term life insurance premium using simple age-band rates. Real premiums depend on the insurer, your medical history, income, occupation, plan options and riders, so treat this only as a ballpark figure — always get an actual quote before buying.
How the estimate works
It applies an indicative rate per ₹1,000 of sum assured based on your age band (under 30: 1.2, 30–39:
1.8, 40–49: 3.5, 50+: 6.5) and adds a 50% loading for smokers. Estimated annual premium =
Sum assured ÷ 1000 × rate × (smoker ? 1.5 : 1). The monthly figure is the annual premium
divided by 12.
How to use the Term Insurance Premium Estimator
- Enter your age. Type your current age in years — it sets the rate band.
- Enter the sum assured. Type the life cover you want, for example ₹1 crore.
- Set term and smoking status. Enter the policy term in years and whether you smoke.
- Read your estimate. See the estimated annual and monthly premium update instantly.
Frequently asked questions
Is this the exact premium I will pay?
No. It is an indicative estimate only. Actual premiums are set by the insurer after underwriting your health, income, occupation and lifestyle.
Why do smokers pay more?
Smoking raises mortality risk, so insurers apply a loading — here a 50% increase — to smoker premiums compared with non-smokers of the same age.
Does a longer term increase the premium?
Generally yes, because the insurer covers you for longer. This simplified estimator focuses on age band, sum assured and smoking status for a ballpark figure.
Does this calculator store my data?
No. The estimate runs entirely in your browser; nothing you enter is sent to or stored on a server.