This calculator can help you calculate term life insurance premium based on the input such as age, BMI factor such as height and weight and based on life style and finally on the coverage and coverage term.
Total Premium for coverage for years is
Annual Premium is or monthly
The premium will be influenced by:
1. Age (higher age = higher premium)
2. Gender (actuarial differences based on gender)
3. Height and weight (to calculate BMI, which affects premium)
4. Lifestyle (smoker = higher premium)
5. Health and wellness (medical condition = higher premium)
5. Coverage amount (the total coverage needed)
6. Coverage term (the duration of the coverage)
This example calculates BMI using weight and height, which could influence the premium (e.g., higher BMI might lead to higher premiums). For example, A BMI over 25 (overweight) or under 18.5 (underweight) can increase the premium.
Average:
You have an ongoing medical condition and manage it with treatment or medications.
Above Average:
You have an ongoing medical condition that doesn’t require treatment or medications.
Exceeds Average:
You have no ongoing medical conditions.
You don’t have any family members with major medical conditions.