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Tata AIA Life Insurance
Term Insurance Calculator

Tata AIA Life Insurance
Term Insurance Calculator


Now calculating your term insurance premium is easy!

Getting term insurance in India is simple and straightforward when you are aware of your and your family’s insurance requirements. By purchasing a term insurance plan online, you can save a lot of time and effort and find a suitable term plan that will protect your family and keep them safe from financial eventualities in your absence.

A Non-Linked Non-Participating Individual Life Insurance Plan (UIN:110N160V02)

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Tata AIA Life Insurance

Sampoorna Raksha Supreme

TERM

CALCULATOR

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Why Choose Tata AIA Term Insurance Plans?

  • With higher protection, get life cover up to 100 years of age
    Higher Protection

    Get Life Cover up to 100 years of age^

  • Faster Claim Settlement - Tata AIA Term Insurance Calculator
    Faster Claim Settlement

    Assured 4 hours of claim settlement***

  • Tata AIA Assurance of 98.02% Claim Settlement Ratio - Tata AIA Term Insurance Calculator
    The Tata AIA Assurance

    98.02% Claim Settlement Ratio$$ in FY 2020 – 21

  • Personalized term insurance plan - Paper Pad and Pen
    Personalized Plan

    Flexibility to choose the life cover, add ons and payout that’s right for you.

  • ave up to 46,800 in taxes - Piggy Bank Image
    Save on Tax

    Save up to 46,800 in taxes+

  • Flexibility to choose premium payment mode - Tata AIA Term Insurance Calculator
    Pay your Way

    Flexibility to choose premium payment mode as per convenience

What is a Term Insurance Calculator?

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!

How to Use the Term Insurance Premium Calculator?

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 sum 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!

Why Do You Need a Term Insurance Calculator?

A term plan premium calculator is the simplest and most affordable form of life insurance that provides comprehensive life cover protection to your family in times of uncertainty. Many factors such as your age, the needs of your family, 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 in the form of online payment 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, payment details and documents.

Popular Tata AIA Term Insurance Plans

Benefits of a Term Plan Premium Calculator

An online term insurance calculator has several benefits since it is a quick and easy way to calculate your term insurance premium. These are the important benefits of using a term plan premium calculator before purchasing a term plan.

 

  • Time-Saving Technique to Use Term Insurance Calculator - Benefits of a Term Plan Premium Calculator
    Time-Saving Technique

    Instead of calculating your term plan premium payment amount  manually, which can be a very time-consuming process, simply fill in a few basic details on the term plan online calculator to get instant quotes!

  • Term Insurance Calculator Helps to compare various term insurance plan - Search Icon - Benefits of a Term Plan Premium Calculator
    Comparison of Various Plan

    Comparing different plans can be a tedious and confusing process, but a term insurance calculator does this in a matter of minutes, and you can compare plans simultaneously, with a few simple clicks.

  • Makes Budgeting Easier - Benefits of a Term Plan Premium Calculator
    Makes Budgeting Easier

    Once you know premium payments you need to make towards your term insurance plan, you can also put your other financial commitments and obligations into planning which makes for easier financial planning.

  • Choose a good term plan based on the coverage - Benefits of a Term Plan Premium Calculator
    Provides a Better Idea of Cover

    Since an online term insurance plan helps you calculate the term plan premiums, it will help you choose a good term plan based on the coverage you need for your family. This is why a term plan calculator is an important tool.

  • Free-of-cost tool - Benefits of a Term Plan Premium Calculator
    Cost-effective

    Our term insurance calculator is a free-of-cost tool that can be easily accessed on the Tata AIA Life Insurance official website. All you have to do is provide a few accurate details to get your policy quotes without any charges.

  • Helps You Choose Additional Coverage - Benefits of a Term Plan Premium Calculator
    Helps You Choose Additional Coverage

    As a term plan calculator helps you understand your coverage needs, you can also choose an optional rider to enhance your policy. At an extra premium payment, you can add a suitable rider and receive extra protection against an emergency. 

How to choose a Term Insurance Plan?

Choosing the right term plan is actually simple but you will first need to identify your own insurance needs and a few important factors that will help you choose a suitable term plan. Your insurance needs cannot be the same as that of another policy buyer, which is why all term plans vary from one another in terms of the coverage offered, the plan benefits and the features. To understand how to select a term plan, here is what you need to consider:

  • Claim Settlement Ratio - Money Bag - How to choose a Term Insurance Plan?
    Claim Settlement Ratio

    When you choose a term insurance plan, finding a reputed term insurance provider is important. The claim settlement ratio of the insurance company will help you decide if your insurer will be able to honour your insurance claim so that your family does not have to struggle during an emergency. The claim settlement ratio indicated how many claims the insurer has settled against the number of claims they have received during the financial year.

  • Good choice of optional riders - How to choose a Term Insurance Plan?
    Optional Riders

    It is necessary to find a good choice of optional riders that you can add to your term insurance plan. Though the term insurance coverage may be comprehensive enough, it will not cover specific situations like critical illnesses or offer benefits like a waiver of premium in case of loss of income. At such times, a suitable rider will be able to help you and your family with some financial benefits without disturbing the term insurance coverage.

  • Adding a good critical illness cover - How to choose a Term Insurance Plan?
    Critical Illness cover

    Adding a good critical illness cover to your term insurance policy can give you extensive coverage in case you are diagnosed with a critical illness and need treatment for the same. All of the treatment and hospitalisation costs can be covered under the critical illness cover, which would otherwise be very expensive. Therefore, always choose a critical illness cover that includes coverage against a number of major conditions and illnesses, including cardiac conditions and cancer at various stages.

  • Opt for lower premiums - Badge - How to choose a Term Insurance Plan?
    Premium Rate

    While the premium rates offered by your insurer should not be the only factor to be considered, it is still quite important. The premium payments you pay for years should justify the term insurance coverage you receive. However, do not compromise on the coverage in case you want to opt for lower premium payments, as the cover should always be adequate enough to support your family in case of unexpected emergencies.

How to Calculate Term Insurance Plan Premium Online?

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 for years.

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 payments. 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 payment amount to be paid.

Factors that Determine the Premium Rate of the Term Insurance Policy

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 payment amount on your term insurance policy.

  • Pre-Existing Diseases:
    If you already have a pre-existing condition or disease since many years, 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 payment 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. 

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Frequently asked questions about Term Insurance Premium Calculator

Generic Policy Cover Premium Claim
Why use a term insurance calculator?

A term insurance calculator should be used since it is a quick, simple and free-of-cost way to calculate your term insurance premium and compare plans online.

How to use a term insurance calculator?

To use the Tata AIA term insurance premium calculator, simply visit our official website and go to the term insurance calculator page. Input the necessary details as requested on the calculator and proceed to verify your details and receive instant quotes.

Can I purchase a term plan online?

Yes, you can purchase a term plan online by visiting the Tata AIA Life Insurance official website and going to the Buy Online section. Once you select a term plan of your choice, you can buy the plan and make the payment online in a few easy steps.

Why is a term plan important?

A term plan is important because it offers comprehensive life cover protection to your family at very affordable premiums. In case of an unforeseen eventuality, the sum assured will financially support your family so that they can sustain themselves.

Can I have different life insurance plans along with a term plan?

Yes, you can have different life insurance plans different life insurance plans as well as a term plan based on your and your family’s insurance needs.

What are the different Tata AIA Life Insurance term plans?

Tata AIA Life Insurance offers the following term insurance plans –

  • Tata AIA Life Insurance Sampoorna Raksha Supreme (UIN: 110N160V02) 

  • Tata AIA Life Insurance Saral Jeevan Bima (UIN: 110N157V01) 

  • Tata AIA Life Insurance InstaProtect Solution 

Are all the term plans the same?

No, all term plans do not have the same offerings. For example, some term plans, such as Tata AIA Life Insurance Sampoorna Raksha Supreme (UIN:110N160V02) , offer 4 plan options with different features, while the Tata AIA Life Insurance Saral Jeevan Bima (110N157V01) offers a simple, pure risk life cover.

Are there tax benefits on term plans?

Yes, term insurance plans come with tax benefits under Section 80C and Section 10(10D) of the Income Tax Act. Under the former, the term plan premiums are tax-deductible up to a limit of Rs.1.5 lakhs per year, while under Section 10(10D), the death benefits are exempt from taxation$.

Is a term insurance calculator the same as other life insurance calculators?

No, a term plan premium calculator is not the same as other life insurance calculators. For instance, a ULIP calculator will show you the estimated returns you can receive on your policy, while a term insurance plan will show you the sum assured and coverage your family can receive.

Will I get the same benefits on a term plan as any other form of life insurance in India?

No, the benefits offered by a term plan are different from other life insurance plan benefits. For example, a savings plan will enable you to save a financial corpus, while a term plan offers extensive life cover benefits for your family.

What benefits does a term plan offer?

A pure term plan offers a death benefit to the family of the policyholder in the event of the latter’s untimely death during the policy year and no maturity benefits. However, a return of premium term plan offers a 105% return on the premiums* if the policyholder survives the term.

Can I add riders to my term plan?

Yes, you can add riders to your term insurance plan depending on the type of situation you need additional coverage for. You can get a critical illness rider and receive coverage when diagnosed with a critical illness covered under the rider. Or you can get a waiver of premium cover and have future premiums on your policy waived off in case of permanent and total disability or other conditions as stated under the rider1.

How many riders do I add to my term plan?

The number of riders you add to your term plan will be based on your need. However, additional riders mean an additional premium, and so, to keep your premium payments in check, choose only the riders1 you deem necessary.

Will I need to mention medical details on a term insurance calculator?

No, the Tata AIA Life Insurance term insurance calculator does not need your medical tests or reports.

How to get the best term insurance coverage?

To choose the best term insurance coverage, be sure to analyse your insurance needs, research all term plans, use a term insurance premium calculator to calculate the premiums and compare the plans. Once you have compared the plans, you can choose a policy that suits you and your family well.

Will I get the right premiums with a term insurance calculator?

If you fill in the requested details correctly on the term insurance calculator, you will be able to get the right premiums since this online tool has been designed to give accurate results. However, there can be many other additional factors that may affect your premiums.

Can I use a term insurance calculator while renewing my term plan?

The use of a term insurance calculator is best before you purchase a term insurance policy, as you cannot adjust your premium payments when renewing your term plan.

Can I increase or decrease my premium amount on the calculator?

Yes, you can adjust the premium amount on the calculator by changing some of the variables on the calculator. However, do remember to provide the right details so that you can get accurate term insurance premium quotes.

Will my premiums increase if I purchase a term plan close to retirement?

Yes, the older you get, the higher your premiums will be. Hence, when you are close to retirement after a few years, your premiums will be higher than when you first started working.

Will my term plan lapse if I don’t make a premium payment?

Your term plan will lapse if you do not pay the premiums for 2 successive years within the grace period. The lapse will take place from the due date of the first unpaid premium, and you will not be able to avail of any benefits.

How many times can one file a term insurance claim?

A term insurance claim can only be filed once in case the policyholder meets their untimely demise during the policy tenure. Once the death benefit payment is paid out to the nominee, the coverage ends, and no other benefits can be offered on the policy.

How do I file a term insurance claim?

To file a term insurance claim, contact us through any of the following channels:

 

  • Email: customercare@tataaia.com

  • Call - 1860-266-9966 (local charges apply)

  • Visit us at any Tata AIA Life Insurance Company branch office. 

  • Write to us at:

    The Claims Department,
    Tata AIA Life Insurance Company Limited
    B- Wing, 9th Floor, 
    I-Think Techno Campus,
    Behind TCS, Pokhran Road No.2,
    Close to Eastern Express Highway, Thane (West) 400 607. 
    IRDA Regn. No. 110

     

What are the different term insurance claims that can be filed?

You can file a death claim on a term insurance policy. In case you have added a critical illness cover to your plan, you can also file a claim for the same if you are diagnosed with a critical illness.

How to ensure that my family receives a timely death benefit?

To ensure that your family does not face any hassles at the time of claim settlement, choose a reputed insurance provider with a high claim settlement ratio and fill up your insurance proposal form with correct and accurate details.

Tata AIA Life Insurance has a claim settlement ratio of 98.02% for FY 2020-21, which is among the highest claim settlement ratios.

What if my nominees want to file a claim in India from another country?

If your nominee wants to file the claim from outside India, they can upload the attested copies of the essential documents online and send them to us by email. To file a claim offline, they can courier these documents to their representative in India, who can submit them to us at any of our offices. 

Disclaimers
  • *At the time of purchase, if the policyholder chooses to opt for a Return of Balance Premium option -For Sampoorna Raksha Supreme (Life Plus Option), an amount equal to the 105% of the Total Premiums Paid towards the product (excluding loading for modal premiums) shall be payable at the end of the Policy Term, provided the life assured survives till maturity and the policy is not terminated earlier. For Tata AIA Life Insurance, Non-Linked Comprehensive Protection Rider and Tata AIA Life Insurance Non-Linked Comprehensive Health Rider, an amount equal to the Total Premiums Paid towards the respective benefit option (excluding loading for modal premiums), less any claim amount already paid out under the respective benefit option, shall be payable at the end of the benefit option term, provided the benefit option is not terminated.

  • ^Applicable for Life, Life Plus and Life income options.

  • #Option available with Life and Life plus option.

  • This product is underwritten by Tata AIA Life Insurance Company Ltd. The plan is not a guaranteed issuance plan and it will be subject to company’s underwriting and acceptance. Insurance cover is available under this product. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.

  • $Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you.

  • $$Individual Life Claim Settlement Ratio is 98.02% for FY 2020 - 21 as per the latest annual audited figures.

  • 1Rider is not mandatory and is available for a nominal extra cost. For more details on benefits, premiums and exclusions under the Rider, please contact Tata AIA Life's Insurance Advisor/ branch.

  • Tata AIA Life Insurance InstaProtect comprises Tata AIA Life Insurance Sampoorna Raksha Supreme (Non-Linked, Non-Participating, Individual Life Insurance Plan) (UIN: 110N160V02) - Life Option (in case Return of Premium is No) or Life Plus Option (in case of Return of Premium is Yes), Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (NLCPR) (UIN: 110B033V02) - A Non-linked, Non-participating, Individual Health Rider; Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (NLCPR) (UIN: 110B031V02) - A Non-linked, Non-participating, Individual Health Rider.

  • CritiCare Plus (CPB), Accidental Death Benefit (ADB), Accidental Total & Permanent Disability (ATPD) are benefit options available under Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (A Non-linked, Non-participating, Individual Health Rider) (UIN: 110B033V02 or any later version).  HospiCare Benefit (HCB) is a benefit option available under Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (A Non-linked, Non-participating, Individual Health Rider) (UIN: 110B031V02 or any later version)

  • ##Please refer brochure/s of above product and rider/s for additional details and Annexure for Definitions and Exclusions under these benefits

  • ***4 Hour claim processing is applicable for Tata AIA Life Insurance working days (Monday to Friday) up to 2 pm and also bank working days subject to submission of completed documents.

  • + Tax benefits of up to ₹46,800 u/s 80C is calculated at highest tax slab rate of 31.20% (including cess excluding surcharge) on life insurance premium paid of ₹1,50,000. Tax benefits under the policy are subject to conditions laid under Section 80C, 80D,10(10D), 115BAC and other applicable provisions of the Income Tax Act,1961. Good and Service tax and Cess, if any will be charged extra as per prevailing rates. The Tax Free income is subject to conditions specified under section 10(10D) and other applicable provisions of the Income Tax Act,1961. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above.

  • IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER

  • THE LINKED INSURANCE PRODUCT DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICY HOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF THE FIFTH YEAR.

  • Past performance is not indicative of future performance.

  • All investments made by the Company are subject to market risks. The Company does not guarantee any assured returns. The investment income and price may go down as well as up depending on several factors influencing the market.

  • Please make your own independent decision after consulting your financial or other professional advisor.

  • L&C/Advt/2022/Mar/0622