Term Insurance Calculator: For Choosing the Right Policy
If you’re finding a way to find the most suitable term plan then this article is for you. You will understand that how by using a term insurance calculator you can easily get the best term insurance cover.
Term insurance calculator answers 4 important common questions a person has-
- Which type of life insurance cover would be best for me?
- What kind of cover would be appropriate as per my salary?
- What amount I should or I can afford to pay as the premium?
- What amount would be sufficient?
Look from a broader perspective-
The old school Rule-of-Thumb which insurance agents use is, “One should aim for a sum assured amount of 7-10 times of his annual income.”
It’s based on a notion. Consider that your beneficiary invests or puts the death benefit received from life insurance policy in a good option. He gets a reasonable return on his investment. This person therefore will get a source of income and enhance his livelihood.
However, having 10 times of sum assured amount is not enough. The beneficiary should get 10% return on his investment to be able to receive the same amount of income as before.
Hence, there must be some better way. Term insurance calculator is the one which helps you accurately determine the correct amount of life insurance.
How term insurance calculator gives you the perfect solution in an easy manner?
Term insurance calculator answers you needs based on accurate personal financial situation. It calculates the right amount needed to meet the essential needs.
You just need to go through 5-15 easy questions. Once done, instantly an accurate figure pops up. It shows how much insurance is needed to protect all your loved ones. The best part is that it requires only 2 minutes replying to the questions followed by an instant solution.
Summarizing benefits of term insurance calculator (SFTP)
Simple procedure- You need to answer just few simple questions.
Fast- gives an instant response.
Tailored solutions – It gives customized solutions which suits one’s requirements.
Precise - It gives the most suitable solution as per one’s financial status
In short, using term insurance calculator is the smartest way to determine one’s life insurance needs. It displays the right amount of life insurance you should select to protect your family. It does so by accurately tallying your financial situation and considering your priorities which it grasps through the questions you answer.
Hence, you’re able to buy life insurance which would be enough to protect your family when you pass away. Also term insurance calculator ensures that you don’t overdo from your family’s needs. Hence, it helps you put your each penny in the right basket.
It makes total sense to use term insurance calculator to determine the right insurance policy for you. Perhaps, it will take only few minutes but giving you life-long benefits. So choose and start using term insurance calculator for deciding on the right type of policy for you.