Life Insurance Premium Calculator
(Calculate, Compare & Buy life insurance)
Life insurance is the need of the hour for every earning person. The Corona pandemic has increased the awareness among the people regarding life insurance and made them understand the value of life insurance. Life insurance is essential for every family; the bread earner in the family should take life insurance in order to safeguard the financial interest of the family members in case of sudden demise of the policyholder. In families where there is only one earning person, having a life insurance policy is of utmost priority.
What is Life Insurance Premium?
The life insurance premium is one time or recurring payment that a policyholder makes towards his/her policy. Any life insurance plan is valid as per the guidelines of the insurance provider and if the policyholder pays premiums on time. Most of the policyholders provide the option of selecting the premium payment frequency like yearly, half-yearly, quarterly, and monthly. The sum assured that a policyholder gets is a factor of this premium that is paid as the sum assured when the policy benefits are activated.
A policy's premium varies and depends on the plan that one selects and his/her credential. Most of the times, a young and healthy person will get the same term plan in a lower premium than a person who is older comparatively. In the same manner, a person who does not smoke gets better premium than a person who is a smoker. Apart from these, there are many other variables that play a vital role in deciding the premium of a life insurance plan, and this is the reason the requirement of life insurance calculator comes in picture.
Life insurance premium calculator is a tool that provides the premium for your life insurance policy according to the data entered by you. The life insurance premium can be calculated in 2 steps online using the link https://www.policybachat.com/life-insurance by entering basic details such as Date of birth, Smoking habits, Pre existing diseases, Gender, Annual income, Salaries/ Self employed and contact details. In the next step life insurance premium from different insurance companies will be displayed on the screen. There is an option to increase the coverage by adding riders as per your requirement and affordability. The riders are a form of extra coverage offered by the insurance companies on payment of extra premium.
- In the third step you would be redirected to the payment page after selecting the life insurance company. The payment can be done using Credit/ Debit card, online banking, Cheque/DD and other UPI modes where the payment will be credited directly to the account of the insurance company. The life insurance calculator premium can be increased or decreased by adding or deleting the add-ons. It is important to note that the premium displayed is on the basis of the information entered by you and the final life insurance premium might change depending on the decision taken by the underwriter considering the risk exposure.
- The life insurance premium calculator can be used to know your life insurance premium. Life insurance calculator available on PolicyBachat portal is easy to use and is reliable as the quotes provided by the insurance companies will reflect on the portal without any errors. The premium in life insurance calculator changes with a change in the above mentioned factors such as Age, Sum Assured, and Lifestyle changes etc. The data entered in the life insurance premium calculator will be considered as the declaration from the customer and the premium will be displayed on the basis of the input from the customer.
Please visit our portal https://www.policybachat.com/life-insurance to compare life insurance policies from different life insurance companies and select the best life insurance policy plan which fits all your requirements.