tata aia life insurance
TATA AIA Life Insurance Premium Calculator

TATA AIA Life Insurance Premium Calculator

Before buying any life insurance plan, it is very important to know the premium amount for the chosen policy so that you can plan your budget accordingly, and can compare the plans for choosing the most suitable one. With TATA AIA Life Insurance Company, your experience of calculating the premium amount will be super smooth and hassle-free as this customer-friendly insurer is always determined to offer its consumers the best facilities. So, have a look at the below content to know about everything related to the life insurance premium calculator of this company.

Why Should You Use TATA AIA Life Insurance Premium Calculator?

Instead of opting for the manual process of premium calculation, you should go with the online premium calculators that are available with the insurer, as it is more effective. To know the reasons, have a look at the below mentions. 

Super Easy – TATA AIA has built its official website in such a way that even an internet-blind can calculate the premium without any trouble.

Time Saving – If you do the premium calculation online, with just by few clicks, it is not only hassle-free but also saves a lot of time as the manual works take time. 

More Correct – As here, the inbuilt calculator is calculating the premium for you for your chosen conditions, it poses lesser risks of mistakes than the manual process. 

Free of Cost – For TATA AIA, the life insurance premium calculators come free of cost. So, you do not even have to worry about the monetary expenses. 

Paperless Work – As this online method does not involve any paperwork, therefore you do not have to take care of piles of papers and documents. 

Financial Plan – Once you get to know about the premium amount for your life insurance plan under this company, you can fix your expenditure and budget according to that to avoid financial stress. 

Future Planning – This insurer also helps you to make your future dreams come true with the help of their premium calculator tool, as the calculator helps you plan the budget, and to save money.

Types of TATA AIA Life Insurance Premium Calculators

The company has four types of life insurance calculators. Follow the below content to know each detail about the four types.

TATA AIA Term Insurance Calculator

A term insurance calculator is an online tool that helps you to calculate the premium amount for your chosen term insurance plan. The term insurance calculator of TATA AIA enables you to calculate your monthly or annual premium, and compare among different term plans so that you can choose the most convenient one for you.

The detailed process of how to use it:

  • Go to the official website of the company.
  • On the top of the homepage, there will be the Calculators tab. Click on that, and select the Premium Calculators tab.
  • After that, select the Term Insurance Calculator option.
  • There you need to put some information such as your name, date of birth, mobile number, etc.
  • Go to the next page, by clicking the arrow sign below and fill up the next page(s) with the required information.
  • Then, submit it and the premium amount for your chosen policy and information will be displayed before you.

TATA AIA Retirement Calculator

This is a pension calculator that calculates the amount that you need to save for your golden days of retirement on the basis of your given data so that you can enjoy your retirement days worry-free as it will act essentially as your monthly income at that time.

The detailed process of how to use it:

  • Go to the official website of TATA AIA Life Insurance Company.
  • Go to the Premium Calculators option that is available under the Calculators tab on the homepage.
  • Select the Retirement Calculator option.
  • After that, fill in the blanks with the required options as demanded. Make sure that you put the correct information in the right places.
  • Once you are done with putting all the required details, submit it and the premium amount for the chosen policy will reflect before you as per your given credentials.

TATA AIA ULIP Calculator

Since the insurance market is filled with different types of ULIP plans, TATA AIA ULIP Calculator helps you to select a suitable policy available with the insurer based on how much you can invest and the expected market returns generated by the policy based on your risk appetite. This calculator also helps you calculate the guaranteed sum assured life cover that will be paid out to your family in case of your unfortunate and untimely demise during the policy term.

The detailed process of how to use it:

  • Go to the official website of the insurer, and select the Premium Calculators tab that is available under the Calculators section of the homepage.
  • From the options, choose the ULIP Calculator option.
  • After that fill up the pages with the required correct details, and submit that.
  • The premium amount for your chosen policy/option will be displayed before you.

TATA AIA Saving Calculator

With the help of the saving calculator of this insurer, you can plan your financial objectives in a better way. This tool helps you to understand the financial corpus that you need to build in order to achieve your goals. This calculator also enables you to know how long you need to pay the premium to reach the target amount.

The detailed process of how to use it:

  • After visiting the official website of the company, go to the Calculators section that is available on the homepage.
  • There, select the Premium Calculators tab and choose the Saving Calculator option.
  • After that, fill in the blanks with the required details as demanded by the company.
  • Once you are done providing the necessary documents, submit that, and the premium amount for your chosen policy and options will be displayed before you.

Illustration To Explain Working of TATA AIA Life Insurance Premium Calculator

To have a comprehensive idea about how life insurance calculators work under this insurer, let’s have a look below.

Term Insurance Calculator

Suppose, Mr. Sinha wants to buy a term insurance plan for himself and his wife. After searching the insurance market, he has decided to settle for TATA AIA Life Insurance Company. Among the term plans under this insurer, he has decided to go for Sampoorna Raksha Supreme Plan as he has found it the most suitable one for himself.

Now, he wants to check the premium amount that he has to pay for this plan and his given preference. For that, he visits the official website of the company and goes to the Term Insurance Calculator option available under the Calculators tab. There he chooses the aforesaid plan and puts his name, date of birth (40 years), contact details, gender and selects himself as a non-smoker. On the next page, he adds his spouse and chooses the sum insurance band, Rs. 10 lakhs to Rs. 15 lakhs. His policy period is 10 years, and premium payment term every 10 years (Regular).

For these given data, he has found the premium amount of Rs. 42,038 that he has to pay annually. Finding it suitable, Mr. Sinha now clicks on the Buy Now option, just below the page. After paying the premium, he has now safeguarded himself and his wife with this policy.

To sum up this, look at the following table:

Plan nameCoveredAgeNon-smokerSum insuredPremium paying termPolicy termPremium amount (Including taxes)
Sampoorna Raksha SupremeSelf and spouse40 yearsYesRs. 10 – 15 lakhsRegular10 yearsRs. 42,038

Frequently Asked Questions

These are the potential factors that you need to take into regard:

  • Current annual income
  • Monthly expenses
  • Present and future financial liabilities
  • Financial goals and aspirations
  • Age of the policy-seeker
  • Age at the time of policy purchase and number of working years left before retirement
  • Number of dependent family members and their expenses

The first premium is the amount that has to be paid with the insurance proposal. It depends on various factors such as chosen payment mode, premium paying term, etc.

Yes, since the premium calculator is an online tool, you need to have an internet connection available to your device to use this.

Certainly, you can compare the different life plans available with the insurer using this tool.

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