Term Insurance Calculator

Term insurance provides financial protection for your family if you are no longer around to support them. The payout from the policy can help your dependants manage everyday expenses, repay outstanding loans, and continue working towards important financial goals such as your children's education.

It can be particularly important when others depend on your income. The right amount of cover can help your family maintain financial stability and avoid having to make major changes to their lifestyle during an already difficult time.

The calculator uses a few key details about your finances, lifestyle, and coverage needs to give you an estimate that's relevant to your lifestyle.

Based on the information you provide, it helps you understand the level of term insurance cover you may need and gives you a premium estimate. You can adjust the details and coverage amount to see how they affect the estimate.

The calculator is designed to give you a useful starting point before you compare plans or speak to an insurer. You can run different scenarios to understand what works best for your family and financial goals.

Age at purchase:

Your age is one of the biggest factors affecting your premium. Buying term insurance at 28, for example, can cost significantly less than buying the same cover at 38.

Smoking and tobacco use:

Insurers generally price cover differently for smokers and tobacco users, with smokers typically paying higher premiums.

Sum assured:

The amount of cover you choose should reflect what your family may need to replace your income, repay outstanding debts, and meet important financial goals such as your children's education.

Policy term:

The length of your policy affects the premium. The calculator takes the selected term into account rather than applying a standard estimate across all policies.

Health and medical history:

Your health and medical history can affect the final premium. The calculator provides an estimate, which may be revised after the insurer's underwriting and medical assessment.

Add-ons:

Optional riders, such as critical illness or accidental cover, can increase your overall premium. These are priced separately so you can understand the additional cost of each benefit.

The estimate you see here is indicative. Your final premium depends on medical underwriting and the details you declare in the actual application. Pure term insurance pays out only on death, or in some plans terminal illness, during the policy term.

Reviewing your cover isn't a onetime task. Income changes, new liabilities, a new dependent; any of these is a reason to rerun the calculator. If you already hold term cover elsewhere, factor that in manually.