How This Estimator Works (Plain-English)
We start with a base rate for each product type (term/health/motor), then apply risk loadings (age, zone, smoker/vehicle factors), and add add-ons. For motor, we split own-damage and third-party components; for health, we consider deductible/room-rent rider; for term, we include smoker and gender factors. The result is an illustrative premium to help you compare scenarios before you request real quotes.
- This is an educational estimate. Actual insurer quotes can differ by underwriting, medicals, and product rules.
- For accurate pricing, hit Apply Now and our team will fetch matched quotes from top insurers.
Which Insurance Do You Need? (Simple Guide)
Term Life Insurance
What it is: Pure protection—if the life assured passes away during the policy term, the nominee receives the sum assured. No maturity value.
Why it matters: Replaces future income, protects goals (home loan, education), and keeps the family’s lifestyle intact.
- Who should prioritise? Anyone with dependants or loans. Start early—premiums are lowest when young and healthy.
- How much cover? As a thumb rule, 10–20× your annual income. Add loan outstanding + future goals if needed.
- Tenure? Until planned retirement age or until major liabilities end.
- Riders? Consider Waiver of Premium and Critical Illness selectively; avoid over-stacking riders.
Health Insurance
What it is: Covers hospitalisation costs and specified medical expenses. Choose Individual or Family Floater (one shared sum insured for the family).
Why it matters: Healthcare inflation can derail savings. A solid health plan is the first defence.
- Who should prioritise? Everyone. For families, a Floater (2 adults + kids) is usually cost-efficient.
- How much cover? In metros, target ₹10–25L depending on age & hospitals you prefer.
- Key checks: Room rent limits, co-pays, disease-wise sub-limits, day-care coverage, waiting periods.
- Deductible? If premium feels high, pick a deductible you can self-fund; top up/ super top up later.
Motor Insurance (Car/Bike)
What it is: Legally mandatory third-party cover + optional own-damage cover to protect your vehicle.
Why it matters: Shields you from liabilities, repair costs, and accident impacts.
- Who should prioritise? All vehicle owners—at least third-party is compulsory; OD recommended for new/valuable vehicles.
- Smart add-ons: Zero Dep (first 3–5 years), Engine Protect (flood-prone areas), Return to Invoice (new cars).
- NCB discipline: Drive claim-free to earn No-Claim Bonus and reduce premiums yearly.
Importance by Family Member
Self / Primary Earner
- Must-have: Term Life + Health (higher SI) + Motor (if vehicle).
- Keep term till retirement; review SI after major life events (marriage, child, home loan).
Spouse
- Health: Same plan or floater. If spouse also earns, consider separate Term Life (income replacement).
Children
- Health: Add to floater; increase SI as they grow. Term Life for parents protects education goals.
Parents
- Health costs rise with age; consider separate senior-friendly plans to avoid loading the family floater.
Quick Guidance (ClickLends Picks)
- Order of priority: Health → Term → Motor add-ons. Without health cover, one medical bill can break your savings.
- Disclose honestly: Hiding conditions can void claims. Fill proposals yourself.
- Network hospitals: Choose insurers with a strong cashless network near you.
- Review yearly: Update sum insured and add riders only if value & conditions fit your profile.
Insurance Premium Estimator – FAQs
Is this the final premium?
No. It’s an estimate to help planning. Final pricing depends on insurer underwriting, disclosures, medicals, and product terms.
Which policy type should I pick?
Term for pure life cover; Health for medical expenses (individual or family floater); Motor for your vehicle (mandatory third-party + own damage).
Why is a Metro zone costlier?
Higher medical/repair costs and claim frequency in metros. We model this as a zone loading (A > B > C).
Do smoker and age increase term premiums?
Generally yes. We include smoker/gender/age multipliers to illustrate underwriting trends.
How does NCB affect Motor premium?
NCB (No-Claim Bonus) reduces your own-damage portion. We apply a discount % to OD while leaving third-party constant.
Why offer deductibles in Health?
Choosing a deductible lowers premium but you pay that amount in a claim first. Pick a level you can comfortably self-fund.
Can I add riders later?
Some riders can be added at renewal or during specified windows. Our “Apply Now” form helps us tailor quotes for you.