A term insurance calculator helps to get an estimate of the premium that one has to pay towards his/her term insurance plan before purchasing it. By this estimate, a prospective buyer becomes eligible to make an informed decision while he/she is trying to select and purchase a policy.
An HDFC Life Term Insurance premium calculator is an online tool that helps to evaluate and compare various term insurance policies as per different factors. The figures that are calculated by this tool do not provide exact value, but they give an approximate value that one has to pay towards his/her insurance policy.
One can use this calculator multiple times for understanding how varying factors such as policy duration or the sum assured affects the estimate of the premium. All this helps to plan better for the future.
Mentioned below are the benefits of using the HDFC Term Insurance Calculator:
Simple to Use: The user interface of the HDFC Term Insurance Calculator is simple to understand. It asks for some basic details of policy aspirants such as his/her lifestyle (whether he/she smokes, etc) for calculating the amount of premium.
Better Understanding of Product-Wise Coverage: The comparison process of different term insurance plans according to coverage and premium enables one to understand the term insurance product in detail and the actual level of coverage offered by them. Having this knowledge not only lets one purchase the insurance policy but as well as make claims in the future.
A Comparative Analysis: HDFC Term Insurance Calculator calculates different products as per the requirements of the user and details filled by him/her. This is one of the most useful features when one does not know which plan to select.
Customized Premium Amount: The mentioned premium rates are as per the details mentioned by the policyholder and are not the standard prices that are suggested. This premium varies from customer to customer according to the policy term, sum assured, and amount of coverage selected by a person. It as well differs as per the age of the customers and their lifestyle choices. The calculator calculates the closest amount that one has to pay.
Follow the below-mentioned steps to use the term insurance calculator:
At this level, one can adjust the sum assured, frequency of premium, and premium paying term.