By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Latest World News UpdateLatest World News UpdateLatest World News Update
  • Home
  • Business
  • National
  • Entertainment
  • Sports
  • Health
  • Science
  • Tech
  • World
  • Marathi
  • Hindi
  • Gujarati
  • Videos
  • Press Release
    • Press Release
    • Press Release Distribution Packages
  • Legal Talk
Reading: Compare Term Insurance Premiums Using a Smart Calculator Tool: Axis Max Life Insurance Limited – World News Network
Share
Notification Show More
Font ResizerAa
Latest World News UpdateLatest World News Update
Font ResizerAa
  • Home
  • Business
  • National
  • Entertainment
  • Sports
  • Health
  • Science
  • Tech
  • World
  • Marathi
  • Hindi
  • Gujarati
  • Videos
  • Press Release
    • Press Release
    • Press Release Distribution Packages
  • Legal Talk
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Latest World News Update > Blog > Business > Compare Term Insurance Premiums Using a Smart Calculator Tool: Axis Max Life Insurance Limited – World News Network
Business

Compare Term Insurance Premiums Using a Smart Calculator Tool: Axis Max Life Insurance Limited – World News Network

worldnewsnetwork
Last updated: May 26, 2025 12:00 am
worldnewsnetwork 2 months ago
Share
SHARE

BusinessWire India
Mumbai (Maharashtra) [India], May 26: Picking a term insurance plan feels like a simple decision–until it isn’t. You’re told it’s essential, numbers get thrown around, and suddenly, you’re left wondering: am I overpaying? Is the cover sufficient? What if there’s a smarter way to figure all this out before committing? That’s where a term insurance premium calculator comes in. It’s more than just a tool–it’s your first clear look at how much cover you can afford and what it could truly mean for your family.

Contents
WORLD MEDIA NETWORKPRESS RELEASE DISTRIBUTIONPress releases distribution in 166 countriesPress releases in all languagesPress releases in Indian LanguagesIndia PackagesEurope PackagesAsia PackagesMiddle East & Africa PackagesSouth America PackagesUSA & Canada PackagesOceania PackagesCis Countries PackagesWorld Packages

So, when you’re buying a term plan, using a smart tool to compare premiums is how most people are doing it in 2025. It puts you in control, shows you options based on real inputs, not guesswork, and can save you money without cutting corners on protection.
Understanding How Term Insurance Works Before You Compare

A term plan works on a fairly simple principle. You pay a fixed amount (called premium) every year or month, and in return, your family gets a lump sum (the sum assured) if something happens to you during the policy term. It’s not a savings product. You don’t get anything back unless you opt for a return-of-premium feature, which many plans now offer.

Now, here’s the part that needs more attention than it usually gets because premium amounts can vary widely, even for the same sum assured. Two people of the same age and income level might end up with very different quotes simply because of lifestyle habits, medical history, or even the insurer they’ve picked. That’s where a term insurance premium calculator helps you cut through the clutter. You key in your details and see a realistic premium amount right away.
How a Term Insurance Calculator Works
The idea of using a calculator might seem basic, but the insight it gives is far from that. Think of it as a pre-check before you speak to any advisor or agent. You input:
* Your age, gender, and lifestyle habits (like smoking or drinking)
* Annual income
* How long you want to be covered
* The payout option: one-time lump sum or staggered payments

Based on this, the calculator gives you a quote. Not an average or a ballpark. An actual estimate, based on real pricing.

The best part is you can tweak things like change the sum assured, try out a different tenure, include a critical illness rider, and see how your premium changes. It makes the comparison easier without making it overwhelming.
Why Comparing Term Plans Isn’t Just About Lower Premiums
You’ll hear it often, get the lowest premium. But that’s only half the story. Two plans with the same quote might differ completely in what they offer. Some plans provide coverage up to age 85. Others cap it at 65. Some include terminal illness benefits by default. Others don’t. And then there are riders or small additions that can make a huge difference.

Leading providers, including names like Axis Max Life Insurance, offer plans that come with built-in benefits like waiver of premiums in case of disability, or even income replacement options. These might cost a bit more but give added security.

That’s why, a calculator is not just about finding the most cost-effective option. It’s about understanding the value behind what you pay.
What Impacts Your Term Insurance Premium
Once you enter your details, the calculator shows you a quote. But how is that number decided? Here’s a quick look:
* Age and health: Younger, healthier people pay less.
* Occupation: Jobs with higher risk levels may attract higher premiums.
* Smoking and lifestyle: Smokers may have to pay more.
* Coverage term: Longer-term plans usually cost more overall but less annually if bought early.
* Add-ons: Riders like accidental cover or critical illness can add to the base premium.

Let’s say you’re 30, a non-smoker, with no health complications. You could get Rs.. 1 Crore coverage for as little as Rs. 600-900 per month, depending on the tenure and features. A term insurance premium calculator lets you test these variables easily.
Using a Calculator vs. Relying Only on Agents
There’s nothing wrong with asking a licensed agent for help. But before that, it makes sense to run your numbers independently. The calculator is free. It’s quick. And there’s no pressure to commit.

Also, by the time you speak to someone, you’ve already got a baseline idea of what you can afford and what you need. It helps you ask better questions.
Making the Most of What a Term Insurance Plan Offers
You’re not just buying peace of mind. A term insurance plan also comes with tax benefits. Premiums you pay are eligible for deductions under Section 80C*, and the payout to your family is tax-free under Section 10(10D)**. If you choose a critical illness rider, that premium may be eligible under Section 80D* as well.

Plus, newer plans offer more than just a death benefit. Some offer income payouts every month, which can help your family manage regular expenses better than a lump sum.

Providers today even let you buy, customise, and manage your policies online. Many offer paperless onboarding, video KYC, and flexible claim processes. The claim settlement ratio is another factor to watch. Premium insurers like Axis Max Life Insurance reported a 99.65% claim-paid ratio for FY 2023-24.
Choosing the Right Plan for Your Situation

Let’s say you’re married and just bought a house. A longer-term plan with accidental and disability riders might suit you. Or maybe you’re single, in your late twenties, and looking to lock in low premiums while you’re healthy. In that case, a plain vanilla term plan of up to 40 years could work well.

Your needs today may be simple, but over time, they’ll change. That’s why some plans allow for increasing cover based on life milestones like marriage or having children. So, think long-term when comparing your options.
Comparing term plans through a smart tool is no longer optional. It’s the starting point of a decision that affects your family’s future. It gives you control, clarity, and confidence. And while there are many insurers to choose from, plans offered by premium insurers like Axis Max Life Insurance often come with additional features and high claim settlement records, which are important markers when you’re making a long-term decision.

*Available under the old tax regime.
** Available under old and new tax regimes.

Standard T&C apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.

Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making any related decisions.

Tax benefit is subject to change as per prevalent tax laws.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)

Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News

sponsored by

WORLD MEDIA NETWORK


PRESS RELEASE DISTRIBUTION

Press releases distribution in 166 countries

EUROPE UK, INDIA, MIDDLE EAST, AFRICA, FRANCE, NETHERLANDS, BELGIUM, ITALY, SPAIN, GERMANY, AUSTRIA, SWITZERLAND, SOUTHEAST ASIA, JAPAN, SOUTH KOREA, GREATER CHINA, VIETNAM, THAILAND, INDONESIA, MALAYSIA, SOUTH AMERICA, RUSSIA, CIS COUNTRIES, AUSTRALIA, NEW ZEALAND AND MORE

Press releases in all languages

ENGLISH, GERMAN, DUTCH, FRENCH, PORTUGUESE, ARABIC, JAPANESE, and KOREAN CHINESE, VIETNAMESE, INDONESIAN, THAI, MALAY, RUSSIAN. ITALIAN, SPANISH AND AFRICAN LANGUAGES

Press releases in Indian Languages

HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages

Email - support@worldmedianetwork.uk
Website - worldmedianetwork.uk

India Packages

Read More

Europe Packages

Read More

Asia Packages

Read More

Middle East & Africa Packages

Read More

South America Packages

Read More

USA & Canada Packages

Read More

Oceania Packages

Read More

Cis Countries Packages

Read More

World Packages

Read More
sponsored by

You Might Also Like

Fairmont Hotels & Resorts Celebrates Growth in India with the Opening of Fairmont Udaipur Palace – World News Network

“Tesla has arrived in the right city and right state” says Maharastra CM at Mumbai showroom opening – World News Network

GAIL signs long-term LNG agreement with Vitol Asia for 1 MMTPA supply – World News Network

Sparsh CCTV, Innoviz Technologies and Cron AI partner to offer Security and Intelligent Transport System (ITS) Solution Across India – World News Network

Estaa Sweets Expands Across Bangalore with New Outlet at Choodasandra, Serving Wide Variety of Ghee Sweets and Namkeen – World News Network

Share This Article
Facebook Twitter Email Print
Previous Article “What Bihar has to do with Lalu Yadav expelling someone from party and family?” Prashant Kishore – World News Network
Next Article Kashmiri-Kannada feature film ‘Harmukh’ launched in J-K – World News Network
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
136kSubscribersSubscribe
4.4kFollowersFollow
- Advertisement -

Latest News

From IT to IPOs: Mallinath Mulage is Revolutionizing Trading Education through The Safe Trader Academy – World News Network
Business 21 hours ago
From Foundations to Flagships: Inside SS Group’s Vision for a Future-Ready India – World News Network
Business 21 hours ago
OSL Pay Partners with MEXC to Launch Credit and Debit Card Fiat On-Ramp Services Copy – World News Network
Business 21 hours ago
A Transformative Journey Begins: The Grand Launch of “Manifest Your Dreams – With a Pen” by Nitika Didwania – World News Network
Business 21 hours ago

Sports

“It was written in stars”: Stokes on Bashir’s match-winning moment as spinner gets ruled out of series – World News Network
Sports
Nobody cried themselves to sleep: Stokes “all for” on-field “spectacle” after tempers flared at Lord’s – World News Network
Sports

Popular Category

  • Business
  • Entertainment
  • Health
  • National
  • Videos
  • Gujarati

Popular Category

  • Hindi
  • Lifestyle
  • Marathi
  • National
  • Science
  • Sports
  • Tech
  • World

Entertainment

Travis Scott’s Circus Maximus World Tour: After Delhi now Mumbai to witness magic of his music – World News Network
Entertainment
Vantara, Gujarat Forest Department collaborates to support wildlife diversity in Banni Grasslands – World News Network
Entertainment
Copyright © 2023 World News Network. All Rights Reserved.
Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

[mc4wp_form]
Zero spam, Unsubscribe at any time.
Welcome Back!

Sign in to your account

Lost your password?