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HDFC Term Insurance Calculator 2024

The HDFC Term Plan Calculator 2024 helps calculate the premiums for their chosen term insurance plan. The calculator is very easy to use and helps you perform complex calculations in a few seconds. Additionally, the calculator enables a comparison of premiums to help you choose the plan with the features and benefits. Let’s understand the details of the HDFC Term Insurance Calculator here.

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Note: Know more about what is term insurance first before reading this article.

What is HDFC Term Insurance Premium Calculator 2024?

The HDFC Term Insurance Calculator is an online tool designed to help customers estimate the life insurance premium amount required for their chosen life cover under the HDFC Term Plan. This tool lets you quickly and accurately calculate your premium, saving time and money. You can easily find the most suitable HDFC Life Insurance plan to meet your needs by entering basic information like coverage amount and policy terms.

one crore term plan
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Term Plans

₹1
Crore

Life Cover

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₹50
LAKH

Life Cover

@ Starting from ₹ 8/day+

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day+

What Are The Details Needed To Use HDFC Term Insurance Premium Calculator?

The following are some of the basic details an individual needs to mention while calculating the premium amount of the policy with the help of the HDFC term plan calculator.

  • Age

  • Gender

  • Life Cover Amount

  • Policy Term

How To Use HDFC Term Insurance Premium Calculator?

To use the HDFC Term Insurance Premium Calculator 2024, you just need to follow the simple steps below.

Step 1: Visit the Policybazaar Term Insurance Calculator Page

Step 2: Enter the age and gender of the policyholder

Step 3: Enter the chosen life cover and policy term

Step 4: Click on ‘View Plans’ and choose the HDFC Term Plan from the plan list

What Are The Benefits Of Using HDFC Term Insurance Calculator? 

There are several benefits of using HDFC term plan calculator. Let’s take a look at it.

  1. Easy to Use

    HDFC term plan calculator is a user friendly online tool that helps to evaluate the approximate premium amount by simply entering few details.

  2. Comparative Analysis

    With the help of premium calculator, one can compare the quotes of various policies and choose the suitable plan as per one’s own requirement and suitability.

  3. Customized Premium

    The estimated premium rates are based on the details entered by the individual and not the suggested standard rates. Based on the coverage amount, policy term and sum assured amount chosen the premium amount of the policy varies from customer to customer. The premium rate of the policy also varies depending on the lifestyle choices and the age of the policy buyers. The premium calculator helps to calculate the closet amount to be paid.

  4. Better Knowledge of Product-wise Coverage

    By comparing various products based on the coverage and premium helps to have a proper understanding of the product and the coverage offered by it. By having a better knowledge of the product, the buyers can make an informed choice as per their requirement and suitability.

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Term Insurance Premium Rates

Term insurance premium rates are the cost that you pay for buying an insurance policy. It is calculated by specialists known as actuaries. These term insurance premium rates should be adequate and equitable to payout the policy benefits and depend on the degree of risk covered by the company. Term insurance premium rates are governed by the following factors:

  • Mortality Rate: is an insurer‘s anticipation of deaths among a particular group of insured lives at certain ages.

  • Expenses: A term insurance policy’s gross premium is calculated as net premium + loading. The net premium depends on mortality rate, investment earnings, and the lapse rate and loading are the company‘s operating costs.

Note: Check out the term life insurance in India and choose one that suits your requirements.

FAQs

  • What is a premium calculator?

    Ans: A term insurance plan premium calculator is a specifically designed and customized tool that calculates the approximate annual/monthly premium amount that life assured needs to pay towards the policy.
  • How is Term Insurance value calculated?

    Ans: The term value is calculated based on the individual’s age, yearly income, and outstanding loans. For a person aged between 35 to 45 years, it is recommended to calculate the term coverage by adding up their outstanding loans to 15 to 20 times the present annual income.
  • How much term plan coverage do I need?

    Ans: Generally, it depends on a number of factors such as financial conditions, your life objectives, your family’s expenses, and financial commitments. However, if you are planning to buy HDFC term insurance plans, industry advisors suggest that your term cover should be at least 15 to 20 X your annual income.
  • Do Term Insurance premium rates increase over time?

    Ans: The premium amount charged for the term plan remains the same throughout the plan tenure. Unchanging rates of premium are one of the key benefits of a term plan.
  • What are the different factors that affect the HDFC Term insurance premium rates?

    Ans: HDFC Life Term Insurance premium calculation depends on various factors such as age, gender, pre-existing ailment, occupation, and retirement age.
  • How does my age affect the premium rate of HDFC Life Term Insurance?

    Ans: Age is the main factor in determining the premium amount of your HDFC Life Term Insurance plan. The premium rates rise with the increase in age.
  • What is the effect of tobacco users on HDFC Life Term Premium calculation?

    Ans: Smoking or tobacco is harmful to your health as it upsurges the chances of developing illness/diseases such as lung or throat cancer. If you smoke or use tobacco regularly, you are at high risk of developing a life-threatening disease. So in such cases, you are required to pay higher premium rates as compared to the person paying premium who does not use tobacco.
  • Will my premium change if I add Riders to my HDFC Life Term Insurance Plan?

    Ans: If you add riders to your HDFC Term life plan, the premium amount calculated would rise. Riders provide additional benefits and enhance the coverage of the base term plan. They can be opted by paying an extra cost for the additional benefit it will offer. So, the amount of premium will increase if you add riders to your base plan.
  • How is the Insurance maturity amount calculated?

    Ans: The maturity value can only be estimated; it cannot be exactly calculated. The basic formula to estimate the maturity amount is Sum assured + Bonuses + Final Additional Bonus.
  • Is HDFC Term insurance maturity amount taxable?

    Ans: Any maturity amount of term policy or bonus sum received by the policy’s beneficiary in case of death of the life assured is fully exempted from any tax deductions.
  • What are the benefits of term life insurance?

    Ans: Here are 4 common term insurance benefits:
    • Low premium rates
    • Tax Benefits
    • Death Benefit
    • Long term coverage


Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

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HDFC Life Term Insurance Plans Reviews & Ratings

4.5 / 5 (Based on 96 Reviews)
(Showing Newest 10 reviews)
Jagadish
West Bengal, July 22, 2024
Compared Different Options
I was able to compare different renewal options and choose the one that best suited my needs.
Munna
Maharashtra, July 22, 2024
Great Plan For Me
Found a great policy quickly and easily.
Sushil
Maharashtra, July 22, 2024
Good Price
Found a great term policy at a Good price at policybazaar
Sitaram
Jammu And Kashmir, July 22, 2024
Perfect Policy
Found the perfect policy for my needs in no time at PB
Kishan
Tamil Nadu, July 22, 2024
Satisfied
A friend recommended PolicyBazaar to buy a term plan and I decided to give it a try and I am really satisfied with my decision.
Abhishek
Madhya Pradesh, July 22, 2024
Compared Different Plans
I was pleasantly surprised by how easy it was to compare different policies side by side.
Akshay
Tamil Nadu, July 22, 2024
Easy Renewal Process
The renewal process was quick and hassle free.
Pulkit
Maharashtra, July 22, 2024
Secure and Trusted
Secure and trusted coverage for my family with ICICI Prudential via Policybazaar. Its comforting to know they are protected.
Akhilesh
Uttar Pradesh, July 22, 2024
Perfect and Comprehensive
Found a perfect and comprehensive plan from Kotak Life on Policybazaar. The detailed comparison made it easy to decide.
Lalit
Madhya Pradesh, July 22, 2024
Simple and Clear
Simple and clear process with Policybazaar led me to choose Aegon with confidence.
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