A term insurance calculator is an online tool that helps term plan policy buyers calculate their premiums before purchasing their term insurance plan. With the help of the Tata AIA term plan premium calculator, you can calculate your monthly or annual premiums and compare different term plans so that you can select the one that is not only affordable but also suits you and your family.
 

An online term insurance premium calculator is not only free of cost but is also a quick and easy way to calculate and compare the premiums of different plans so that you do not end up purchasing a term insurance policy that does not offer adequate coverage or is too expensive, leading to expensive premium payments.
 

To make the purchase of a term plan simpler, you can calculate your term insurance premium with the help of the Tata AIA Life Insurance Term Insurance Premium Calculator, which enables you to calculate the premiums before you select a Tata AIA term plan online of your choice!

Before you use an online term insurance premium calculator to calculate your term insurance premiums, always remember to first analyse your family’s future financial requirements along with the provision of emergencies to understand the amount of coverage your loved ones would need, in your absence.
 

Once you have an estimate, you can use the online term insurance premium calculator to adjust the sum assured as per the premiums you would like to pay towards your term plan.

These are a few simple steps you will need to follow to use the Tata AIA term plan premium calculator:
 

1. Visit the Tata AIA Life Insurance official website
   Navigate to Term Insurance calculator page and use our online calculator to find the premium amount.
    

2. Enter Your Personal Information
   Fill in your personal details on the calculator, such as your full name, gender, date of birth, smoking habits and your contact number. Once you submit the details, you will receive an OTP (One-Time-Password), verifying your mobile number. 
    

3. Enter the Desired Sum Assured Amount
   On the next page, choose the sum assured of the term insurance plan and the policy term during which you need insurance coverage.
    

4. Compare the Plans
   The term plan online calculator will fetch the premium quotes for you so that you can compare the quotes, make a choice and select the term plan that suits you the best!

A term insurance plan is the simplest and most affordable form of life insurance that provides comprehensive life cover protection for your family in times of uncertainty. Many factors such as your age, your income, your medical history will determine the premium rate of your term insurance plan, and the premium rate will vary with each plan.

Instead of opting to compute the premium manually along with all of these factors, you can simply use a term plan online calculator that will give you suitable quotes for your policy, based on just a few important and correct details you provide!
 

1. Build a Financial Plan:Since the term insurance calculator is a quick tool to help you calculate your term insurance premium and compare plans, you can work on your other financial plans after understanding the amount of premiums you will be paying for your policy.
    

2. Save Time and Money:Being a simple, online tool, which is free of cost, all it takes is a few essential details for you to get your premium quotes, and you need not spend more time comparing the plans as the instant quotes will help you make a quick decision.
    

3. Avoid paperwork:You need not submit unnecessary documentation and paperwork in this quick and convenient online process. Simply mention your details and get your premium quotes without worrying about paper forms and documents.

To buy term insurance in India, you will have to first understand your family’s needs and then choose a term insurance coverage that will help you protect them.

Calculating the term insurance premium online can be simple with a term insurance calculator but typically, these are some of the important factors taken into consideration while calculating your term insurance premiums:

• Your Age

• Your Date of Birth

• Your Gender

• The Name of the Policy

• The Frequency of the Premiums

• The Policy Term

• The Sum Assured

• Any Optional Riders

It is always advisable to purchase a term plan earlier in life so that you can enjoy a higher term insurance coverage for affordable premium. This is because a younger policyholder is at a lower risk of certain diseases and conditions that can affect an older policy buyer.

Moreover, some insurance plans also offer special premium rates for women policyholders. Therefore, these details on a term insurance calculator can help you determine your premium.

Here are some of the factors which help in determining the premium for term insurance:

• Age:
  The term insurance premiums you pay will increase as you age as older people are more prone to age-related ailments and conditions, while the general health of a younger person is likely to be better and hence, will attract lower premiums.

• Gender:
  The health problems in men and women are different, and even though most insurers do not differentiate between the premium rates of men and women, some may choose to offer a discount to women policyholders.

• Family’s Medical History:
  If your family has a history of cancer or genetic disorders, you may have to provide a medical test report before purchasing a term insurance plan. If the insurer sees a potential health risk, you could be paying higher premiums.

• Body Mass Index (BMI):
  The body mass index or BMI is an indicator of your body’s health and well-being. A normal BMI means you are less prone to cardiac conditions, diabetes, etc., and thus, you can avail of a lower premium on your term insurance policy.

• Pre-Existing Diseases:
  If you already have a pre-existing condition or disease, you will need additional term insurance coverage. While this means greater premium payments for your term insurance, it means better coverage for your family in times of need. 

• Personal Habits:
  If you have smoking habits or consume an excess of alcohol, it will affect your premiums since there is a greater risk to your life due to many potential health issues. If you do not smoke at all, you can be sure of paying low premiums.

• Insurance Requirements:
  Your insurance needs are important for calculating your premium. If you need additional coverage against accidental total and permanent disability, critical illnesses and more, you can add a suitable rider to your plan for extra premiums.

• Financial obligations:
  Your financial obligations, annual income, liabilities and debts, along with your family’s expenses, shall be considered while calculating your premiums. Do note that if you have greater financial commitments, choose adequate coverage.

• Profession and hobbies:
  If the nature of your job or hobbies are dangerous, you will be paying high term insurance premiums. Therefore, someone with a desk job will pay more affordable premiums than someone who works as a scuba-diving instructor.

• Policy Tenure:
  The number of years for which you need the policy coverage will affect the premium amount. If you choose to have a longer-term insurance policy tenure, you could be looking at higher premiums than with a short-term policy.