A life insurance calculator or a term life insurance premium calculator is used for calculation of an individual's monthly or annual premium for their life insurance policy. Thus, it helps you evaluate the exact premium amount you should pay in order to achieve the desired sum assured. Since it is a tech-abled tool, it is user-friendly and saves a great deal of time and effort. It also minimises possible errors that may occur due to manual calculation of premium. One of the highlights of the term life insurance calculator is the option of customisation for the convenience and comfort of the user. You can quite easily regulate the amount that your nominee is liable for, if you are not present. A major advantage of a life insurance premium calculator online is that it enables you to simultaneously compare the premium that you would have to pay for different companies. Instead of going through the hassle of manual comparison, this online tool helps you get a fair idea and overview of the various premium rates on offer by different companies for specific periods of time, all in one glance.
Calculate using the DIME Formula DIME stands for Debts and expenses, income, mortgage, education. Debts and expenses: All the existing debts and expenses should be summed up Income: The number of years that your family would require financial support must be calculated, and multiplied with current annual income. The number of years must be considered as the number of years it would take for your youngest child to graduate from school. Mortgage: The amount of money that is needed to pay off mortgage is calculated Education: The amount of money that is required for your children's' college education is considered. The best way to find the ideal coverage for life insurance is to add up your financial obligations (mortgage, debts, future needs) and subtract liquid assets (savings, current life insurance) from this. Do I Need Life Insurance if I Don't Have a Mortgage? Life insurance is needed if you have dependents, even if you don't have a mortgage. The loss of the breadwinner's income in a family can affect a family's living conditions greatly and thus, the cover that life insurance can offer can be of great relief in such a situation.
Traditional Plans Our intelligent insurance plans keep your money and future secured ULIP Get risk coverage with innovative fund options Group Plans Protect the interests of your employees and manage key liabilities Health Insurance Plans Health Insurance plans to keep you in control of unpredictable health expenses TOOLS AND CALCULATOR Calculate Fund Value Calculate Premium How much life insurance do I need?