A life insurance premium calculator is a useful tool for understanding and calculating different types of life insurance policies and plans before buying one. Since there are several life insurance products offered by HDFC Life Insurance Company, it is good to use this tool online for finding suitable life insurance policies based on premiums that one has to pay.
The HDFC Life Insurance Calculator is an online tool that can be used free of cost from the website of HDFC Life. This tool gives the approximate value of the premium amount that an individual has to pay towards his/her selected life insurance policy as per his/her age, term of the policy, and sum assured, etc. It is always good to calculate the amount of premium that one has to pay during the tenure of the policy. People generally explore many life insurance policies for finding out the most suitable life insurance plan. Therefore, before buying a life insurance policy, it is advantageous to use HDFC Life Insurance Calculator to know the premium before-hand.
Benefits of Using HDFC Life Insurance Calculator
There are many benefits of using an HDFC Life Insurance Premium Calculator. Some of these benefits are:
- Fast Calculation: This calculator helps to calculate and compare premiums of different life insurance policies. Since the calculation of premium is done based on many factors, thus manual calculation process can turn out as a complicated task. However, HDFC Life Insurance Calculator helps to calculate quickly.
- Simple Comparison of Various Insurance Plans: All insurance plans are not the same and each life insurance policyhas different features, terms, and benefits. Therefore, the HDFC Life Insurance calculator helps to understand the affordability of the policy before comparing and selecting one. This easy-to-use tool helps one to find out various other benefits like investment benefits, death benefits, maturity benefits, etc. associated with the insurance plan with ease. A user can change the amount of sum assured, frequency, premium amount, and term of the policy for getting favorable results according to budget and requirements.
- Budget Planner: HDFC Life Insurance calculator helps one to set his/her finances according to their budget set for premiums. After finding out a suitable life insurance plan, one can select from several frequencies, which are – monthly, quarterly, yearly, half-yearly, or sometimes it is a one-time payment – by exploring various HDFC Life insurance plans and selecting the most suitable one. By knowing the premiums of different HDFC Life Insurance plans in advance, one can plan his/her budget accordingly.
How to Use HDFC Life Insurance Calculator?
HDFC Life Insurance Calculator can be used to check the premium of the life insurance policy. One has to provide the following details to calculate the premium of his/her life insurance policy:
- Sum assured
- Nationality (Select between No or Yes for providing Non-NRI or NRI status).
- First and last name
- Email id
- Mobile number
- Date of Birth
- State and city
- The user of tobacco (Yes or No)
After filling in all these details, one has to click the 'Proceed' button for getting an approximate value of the premium. It is to be noted here that it is an approximate value and it does not include the final premium.