Term Insurance Calculator - Estimate Premium & Ideal Cover Instantly

Not sure how much term insurance you actually need?
The Term Insurance Calculator helps you figure it out - in less than a minute.
By entering a few details like your age, income, and existing loans, PolicyBachat shows your recommended sum assured and estimated premium across multiple insurers.
You'll also see how adding riders (like Critical Illness or Accidental Death) affects your premium.
This tool helps thousands of users choose the right cover amount - not too low to risk their family's security, and not so high that it's unaffordable.

Why Use A Term Insurance Calculator

1 Personalized Cover Recommendation: Based on income, expenses, dependents, and liabilities.
2 Instant Premium Estimate: Get quotes from 20+ insurers instantly.
3 No Agent Bias: 100% unbiased, data-driven suggestions.
4 Helps Financial Planning: Aligns coverage with income growth and inflation.
5 Compare Riders: See real-time impact of add-ons like CI, ADB, and WOP.

How Term Insurance Premium Is Calculated

Factor	Impact on Premium	Notes
Age	Younger = Lower premium	Best to buy early
Income & Lifestyle	Higher income → higher recommended cover	Used to set sum assured
Policy Term	Longer term = slightly higher cost	More years of protection
Smoking Status	Smoker premiums are 30–50% higher	Disclose honestly
Health & BMI	Good health = cheaper policy	Medicals may apply
Riders Added	Each adds small extra cost	Adds major value
Payout Type	Lump sum vs income	Income payout may cost slightly more

How To Use Policybachat's Term Insurance Calculator

Visit PolicyBachat.com → Term Insurance Calculator.
Enter:
- Age
- Gender
- Annual Income
- Tobacco/Non-tobacco user
- Desired coverage term (20, 30, 40 years)
Click "Calculate Premium."
Instantly view:
- Ideal sum assured
- Approximate annual premium
- Comparison of 20+ insurers side-by-side.

Pro Tip: Re-run the calculator with and without riders - see how little extra protection really costs.

Sample Output - Term Insurance Calculator

Age	Annual Income	Ideal Cover	Term	Estimated Premium (₹/yr)
25	₹6 lakh	₹1 crore	35 yrs	₹7,800
30	₹10 lakh	₹1.5 crore	30 yrs	₹9,500
35	₹12 lakh	₹2 crore	25 yrs	₹13,200
40	₹15 lakh	₹2 crore	20 yrs	₹18,400

(Premiums vary by insurer, health, and lifestyle.)

What The Results Show You

Recommended Coverage: Based on income, loans, and dependents.
Premium Range: Lowest to highest from 20+ insurers.
Claim Ratio & Top Picks: Helps shortlist the most reliable insurers.
Optional Riders: Add CI, ADB, or WOP instantly to your quote.

Example Insight

A 30-year-old earning ₹10 lakh annually needs ₹1.5 crore coverage for 30 years.

Premium: ~₹850/month (non-smoker).

Adding Critical Illness + Accidental Death Riders increases premium by just ₹120/month but doubles real-world protection.

Local Term Insurance Insights

Avg. coverage chosen: ₹1.2 crore
Avg. premium (₹1 Cr, 30 yrs): ₹9,800
Most popular riders: CI + ADB + WOP
Top 3 insurers used: Max Life, HDFC Life, ICICI Prudential

Benefits Of Buying Through PolicyBachat

Instant calculation and comparison.
Transparent cost breakdown with rider effects.
IRDAI-approved insurers only.
Free guidance call for high-value covers.
Digital policy in under 10 minutes.

Frequently Asked Questions

What is a term insurance calculator?

It’s an online tool that estimates your ideal coverage and premium based on your income, age, and financial profile.

How accurate is the premium shown?

Very accurate - it uses real insurer pricing algorithms and live data via PolicyBachat’s API integrations.

Is the calculator free to use?

Yes, completely free. You can run unlimited calculations without login or payment.

What inputs do I need?

Age, gender, income, smoking status, location, and preferred coverage term.

Does it include riders in the estimate?

Yes, you can toggle riders like Critical Illness and Accidental Death to see updated premiums instantly.

Can I buy directly after calculating?

Yes - once you find a plan you like, you can proceed to checkout and buy online immediately.

Does using the calculator affect my credit or policy eligibility?

No. It’s purely informational and doesn’t impact your credit score or future applications.

Do smokers and non-smokers get different results?

Yes. Premiums for smokers are typically 30-40% higher for the same cover.

What if I’m not sure about the policy term?

The calculator suggests an ideal term — usually up to your retirement age or 60-65 years.

Can I calculate for my spouse as well?

Yes. Just enter their details separately - you can compare both individual and joint-life plans.

Does the calculator work for NRIs?

Yes. NRIs can use it to view INR-based premiums and eligible insurer options.

Can I view premiums from specific insurers only?

Yes. You can filter results by preferred insurers during comparison.

Is medical information needed for estimate?

No. Medicals are assessed after you apply, but you’ll still get an accurate pre-medical estimate.

Can I save or email my calculated results?

Yes. PolicyBachat allows you to email or download your quote summary.

How long does it take to calculate premium?

Less than 30 seconds. The calculator is designed for one-page instant results.

Customer Reviews

“Got my ₹1 Cr cover estimate instantly - super helpful!”

Neeraj Rathi, Pune

“Loved how the calculator suggested ideal cover based on my income.”

Anjali Bansal, Delhi

“Added riders and saw exact price change - very clear UI.”

Rohan Krishnan, Bengaluru

“No agent hassle, instant premium display.”

Saira Kazi, Hyderabad

“Accurate and easy - took 20 seconds!”

Manish Dey, Kolkata

"Used it for myself and my wife-it's the perfect guidance tool!"

Rahul Menon, Kochi