AED 100,000 cover starting at just AED 7/month

A Complete Guide to Term Life Insurance Premium Calculator

By PolicyBazaar
  | Published: 22 November 2019 | Last Updated On: 08 February 2021

Buy a term plan and secure your family

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AED 100,000 cover starting at just AED 7/month

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When buying a term insurance plan, it is highly recommended to consider the cost as well as affordability of the term plan you are going to purchase. Else, it might provide you a financial burden than coverage in the long term. In order to check the affordability of the term plan, the best way is to use the term life insurance premium calculator that will certainly help you find the best deal as per your suitability.

What is Term Life Insurance Calculator?

A term insurance premium calculator is especially designed to provide prospective term insurance buyers with premium amount estimation. Meaning that, this advanced tool enables you to calculate the monthly premium to get the desired amount of the sum assured. The term life insurance premium calculator which assists you to calculate the exact premium for the desired life cover for you; is easily available on the website of the majority of the life insurance companies.

Remember, life cover is one of the most crucial things in a term insurance plan as this is the amount your dependents receive in an event of your untimely death.

Benefits of a Term Life Insurance Calculator

A term life insurance premium calculator is the best tool that you should use to opt for the right plan. This advanced online tool will allow you to do a comparison and find out an apt term plan that can suit your needs as well as budget. Following are the key benefits of the term insurance premium calculator:

  • Comparison of Different term Plans: Insurance companies in the UAE offer different term plans to meet the diverse need of their potential customers. Well, you can use this online tool in order to compare different plans based on their premium and key features on a single platform and choose the right one that suits you the most.
  • Time Consuming: This tool helps you in saving your precious time since it provides the results quickly. As you are comparing the term life insurance online, you don’t need to submit any documents physically to get the premium quote. It will suggest you an adequate term plan within a matter of seconds only.
  • Affordability: Once you have properly compared different term plans based on their premium and other features, you can easily purchase the desired term plan online. Buying term insurance policy online is cheaper since the premiums are lower because of no involvement of any intermediary. Also, some of the insurance companies offer great discounts to customers who buy a term insurance policy online.

Required Details for Using Term Life Insurance Calculator

In order to use the term insurance premium calculator, you are required to enter the following details:

  • Proper’s name
  • Gender
  • Marital Status
  • Date of birth
  • Policy Term
  • Sum Assured Required
  • Premium payment term
  • Whether you are smoker or non-smoker

How to Use the Term Life Insurance Calculator?

Using a term insurance premium calculator is quite easy and simple. All you need to go through the below-mentioned steps to use this online tool:

  • Step 1: First of all, you need to visit the insurance company you want to buy the term insurance policy from.
  • Step 2: After that, simply click on the term insurance premium calculator which can easily be found either on the homepage of the insurance provider’s website at some specific page of the website.
  • Step 3: And then, provide all the required details such as name, gender, date of birth, marital status, policy term, sum assured, premium payment mode, etc.
  • Step 4: Once you enter all the details, click on the submit button to get the desired sum assured amount.

In A Nutshell

So, the term life insurance premium calculator is an advanced tool that enables you to assess the monthly premium in order to get the desired amount of sum assured quickly and easily. With the help of this, you can choose the term plan as per your need and affordability.