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    • Insurance premium calculator your first step towards term life insurance
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Insurance Premium Calculator – Your First Step Towards Term Life Insurance

Term Plan
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    • Term life insurance premium calculator helps you know the premium payable for a given set of policy benefits
    • Age, lifestyle habits, life cover, and policy term are the important factors for determining the term life insurance premium
    • Use this tool to try out various policy term and coverage combination to choose the most affordable policy
    term life insurance calculator

    Term life insurance premium calculator helps you assess the premium for a given policy.

    Things To Know Before Using A Term Life Insurance Premium Calculator

    Before using the premium calculator, it’s best to understand the factors that determine the premium of the term life insurance:

    • Life Cover

      Life cover is the key variable on which the premium is based. Premiums vary for different life covers. They are generally directly proportional to the life cover amount. Higher the coverage, higher will be the premium.

      Here is an example from the Exide Life Elite Term Plan –premium calculator.

      A 30-year-old non-smoker male will pay ₹6,782* for a life cover of ₹1 crore, for a 12-year term plan. If the life cover is ₹2 crore, the premium is ₹12,300* keeping the other factors constant.

    • Age Matters

      The earlier you start your term plan, the better. You pay lower premiums at a younger age. Peruse the table to see the difference of premiums across the different ages.

      This table is for ₹1 crore cover, for a term of 20 years. The Exide Life EliteTerm Plan premium calculator has been used (the annual premium is in ₹)*:

      Age/Gender

      Male (Non-Smoker)

      Female (Non-Smoker)

      30

      7509

      6730

      40

      14,343

      11,498

      50

      41,119

      32,921

    • Smoking Habit

    Smoking is proven to cause cancer because of which life insurance companies have included it as a factor to determine the premium. A smoker pays more premium for the same life cover, than a non-smoker.

    Anant Mishra, a 25-year-old engineer leads a healthy lifestyle, by restricting his diet, and going to go the gym every day. He hasn’t ever touched a cigarette, and opted for Exide Life Elite Term Plan for ₹1 crore life insurance cover, for a period of 30 years. His annual premium amounted to ₹7,561**. 

    His 25-year-old colleague, Ajay, took the same policy for the same coverage period. However, he’s a regular smoker, smoking at last 5 cigarettes a day. His premium amounted to ₹10,653***. There was a difference of ₹3092 between their annual premium amounts, brought about solely because of smoking as a lifestyle factor.

    It may happen that you and your friend have availed the same term life insurance policy, but the premium you pay might differ. The premium calculator serves as a tool to help determine the cost of your insurance. However these figures are indicative in nature. The actual premium amount is decided after a complete study of your profile by the underwriter.

    As you progress through life and achieve various personal and financial milestones, you can revisit the premium calculator and avail a quote for the additional life insurance cover you will need to safeguard your standard of living and finances.

    Explore Exide Life’s term life insurance plans and calculate your premium now!

    *Amount is inclusive of GST. Individual is assumed to have no pre-medical condition.

    ** For a 25 years old non-smoker male with no pre-medical condition availing Exide Life Elite Term Plan (Online Mode). Premium is inclusive of GST. 

    *** For a 25 years old non-smoker male with no pre-medical condition availing Exide Life Elite Term Plan (Online Mode). Premium is inclusive of GST.

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    IRDAI notice : Beware of Spurious/ Fraud Phone Calls: IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

    Exide Life Insurance Company Limited.
    IRDAI Registration Number: 114, CIN:U66010KA2000PLC028273
    Registered Office: 3rd Floor, JP Techno Park, No. 3/1, Millers Road, Bangalore- 560 001, India.
    2020 Exide Life Insurance Company Limited. All rights reserved.

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