Term Insurance Premium Calculator
Estimate what a level term life cover of your chosen amount is likely to cost per year.
These calculators are provided for general informational and educational purposes only and do not constitute financial, tax, or legal advice. Results are estimates only. Please consult a qualified financial professional before making any financial decisions. This is a planning estimate, not a quote — actual premiums are set by insurers after medical underwriting and vary by health history.
About Term Insurance Premiums
Term insurance is pure protection with no maturity payout, which is why it costs a fraction of what an equivalent-sized traditional endowment or ULIP plan would — your premium mainly depends on your age at purchase, the cover amount, how long you lock the rate in for, and lifestyle factors like smoking. Individual life insurance premiums have been exempt from GST in India since 22 September 2025, so no tax is added on top of the insurer's base rate.
Frequently Asked Questions
Why is term insurance so much cheaper than a traditional life insurance plan?
Term plans pay out only on death within the policy term and build no cash/maturity value, so the insurer prices in pure mortality risk alone - traditional endowment or ULIP plans bundle in an investment/savings component, which is what drives their premium much higher.
Will my premium change every year?
No - a level term plan locks your premium for the entire policy term at the rate based on your age and health at purchase, which is exactly why buying early, while you're younger and healthier, usually costs meaningfully less over the life of the policy.
Book a Free Consultation
Not sure how much cover is right for your family? Pick a date and time that works for you, and one of our financial advisors will call you to walk through your numbers — no charge, no obligation.