Secure Your Family’s Future
Why Choose Our Calculator?
Our Life Insurance Calculator provides instant premium estimates based on your age, income, and goals. Connect with Twins Consultancy’s experts for free advice!
How It Works
1. Enter your personal and financial details.
2. Choose coverage and optional add-ons.
3. Provide contact info for a personalized quote.
4. Click "Calculate" to view your premium and tips.
5. Consult our experts via WhatsApp or share with friends!
How Premiums Are Calculated
We calculate your premium based on age, gender, income, dependents, health, lifestyle, and coverage preferences. Optional add-ons like critical illness or accidental death benefits are included. Taxes may apply.
Formula: Monthly Premium = [(Base Premium × Risk Factors) + Rider Costs + Expense Loading] / 12
Top 20 FAQs
1. What is a life insurance premium?
It’s the amount you pay monthly or annually to ensure financial protection for your loved ones in case of your untimely demise.
2. Who needs life insurance?
Anyone with dependents or financial responsibilities, like loans or family support, benefits from life insurance.
3. How is the premium calculated?
Premiums are based on age, gender, income, health, lifestyle, sum assured, and add-ons, with taxes additional.
4. Can I change my coverage later?
Yes, you can adjust coverage during renewal. Twins Consultancy can guide you!
5. What is sum assured?
It’s the amount your beneficiaries receive if you pass away during the policy term.
6. Are life insurance premiums tax-deductible?
Yes, premiums may qualify for tax benefits under applicable laws, up to certain limits.
7. What’s not covered by life insurance?
Exclusions include death due to suicide (within first year), fraud, or illegal activities.
8. How do I claim life insurance?
Beneficiaries submit a claim with required documents; Twins Consultancy assists with the process.
9. Can my family be covered?
Yes, term plans cover dependents through the sum assured paid to them.
10. How do I start with Twins Consultancy?
Use our calculator and click “Get Free Consultation” to connect with our experts.
11. What are savings plans?
Plans like ULIPs combine insurance with wealth creation for future goals.
12. What is a policy term?
The duration your policy remains active, typically 10–40 years.
13. Does it cover critical illnesses?
Yes, with optional riders for illnesses like cancer or heart disease.
14. Are accidents covered?
Yes, standard policies cover accidental death; riders enhance benefits.
15. Do I need medical tests?
For higher sums or older ages, tests may be required to adjust premiums.
16. Can I pay premiums monthly?
Yes, choose monthly, quarterly, or yearly payments for flexibility.
17. Can I switch insurers?
Switching is possible, but new policies may have different terms; consult Twins Consultancy.
18. Are child plans available?
Yes, child plans ensure funds for education or milestones.
19. What about retirement plans?
Pension plans provide income post-retirement; Twins Consultancy offers tailored options.
20. What if I miss a premium payment?
A grace period is offered; Twins Consultancy can help reinstate your policy.