Term insurance calculator
Check your term plan premium in 30 seconds
Get ₹1 crore life cover from around ₹600 a month. Share a few details and our advisor brings you exact quotes from top insurers.
- Compare 15+ insurers in one place
- Free advisor help in Purnia
- Claim support for your family
- No spam calls, ever
Are you an NRI?
Annual income (in lakhs)
We don't spam. Only a certified SP Insurance advisor will contact you.
Term plan calculator
Move the sliders to see how age, cover and riders change your premium.
Describe your gender
Do you smoke or consume tobacco?
I would like life cover of
Add riders (optional)
Estimated premium for ₹1 Cr cover
₹1,451/month
or ₹16,738 a year, for 40 years
- Base premium₹16,738/yr
- Riders₹0/yr
- Life cover₹1 Cr
- Cover tillAge 70
Indicative estimate. Final premium depends on insurer, medicals, income and occupation. Individual life insurance carries no GST.
How is your term insurance premium calculated?
Insurers use mortality tables and your personal details. These are the factors that matter most.
Age
Younger buyers pay less. Premium rises with every birthday, so buying early locks a lower price.
Gender
Women usually pay a lower premium than men of the same age because of longer life expectancy.
Cover amount
A higher cover costs more, but the price per lakh often drops for large covers.
Policy term
Covering yourself till 70 or 85 costs more each year than covering till 60.
Riders and add-ons
Critical illness, accident or premium waiver riders add to the base premium.
Health conditions
Diabetes, high blood pressure or past illness can raise the premium after medicals.
Tobacco use
Smokers and tobacco users pay noticeably more than non-smokers.
Occupation
High-risk jobs can attract extra premium or need special underwriting.
How to reduce your term insurance premium
Buy young
A 25-year-old can pay close to half of what a 40-year-old pays for the same cover.
Quit tobacco
Stay tobacco-free for 12 months and you may qualify for non-smoker rates.
Pick the right term
Cover yourself till your working years and loans end, not longer than you need.
Choose riders wisely
Add only the riders you truly need. Each one raises the premium.
Pay yearly
Yearly payment is usually cheaper than paying every month.
Disclose honestly
Correct health details avoid claim rejection later. We help you fill the form right.
Example: how Amit used the calculator
Amit is 25, earns ₹10 lakh a year and wants to protect his parents and future family. He enters his age, picks ₹1 crore cover till age 60 and says he does not use tobacco.
The calculator shows an estimate of a few hundred rupees a month. He adds an accidental death rider, sees the new price instantly, and shares the details with our advisor on WhatsApp to get exact quotes.
Frequently asked questions
It is a free tool that estimates the premium of a term plan from your age, gender, tobacco habit, cover amount, cover-till age and riders. It helps you plan a budget before you speak to an advisor.