All calculators / Term Insurance Calculator
Term Insurance Calculator
Get a rough idea of a term insurance premium from your cover amount, age and a rate per ₹1,000 of cover. Actual quotes depend on the insurer's underwriting.
Estimate term life insurance premium for a cover amount.
Free to run · to save projections to your live dashboard
Enter values and click Calculate to see results
Worked example
Calculated by the same engine as the calculator above.
- Inputs
- Cover Amount
- ₹1,00,00,000
- Age
- 30
- Policy Term (Years)
- 20
- Rate per 1000 Cover
- 0.5
- Result
- Estimated Annual Premium
- ₹5,500
- Estimated Monthly Premium
- ₹458.33
- Cover Amount
- ₹1,00,00,000
- Policy Term
- 20
Formula
Annual premium = (Cover / 1,000) × R × (1 + (Age - 25) × 0.02)
- Cover = sum assured
- R = rate per ₹1,000 of cover (you enter this)
- Age = your current age; each year above 25 adds 2%, each year below 25 removes 2%
- Monthly premium = annual premium / 12
Assumptions
- This is a simple illustrative formula, not an insurer's pricing model.
- The policy term is shown in the results but does not change the premium.
- Health, smoking status, gender, riders and GST on premium are not considered.
- A negative result is shown as 0.
- Educational estimate only, not financial advice. Capitallytics does not execute transactions.
Term Insurance Calculator FAQ
Answers about how this calculator works.
How accurate is this term insurance premium?
It is a rough illustration. Real premiums depend on underwriting, health, lifestyle, policy term and the insurer, so get actual quotes before deciding.
Does the policy term affect the premium here?
No. The term is displayed but not used in the calculation. In practice, longer terms usually cost more.
What rate per ₹1,000 should I enter?
Use a figure from a recent quote if you have one: divide the annual premium by the cover in thousands. The calculator then scales it by age.
How much cover should I consider?
This calculator does not recommend a cover amount. People often start from income replacement, outstanding loans and future goals, but the right figure is personal.