About Term Insurance Calculator
Do you want to find out your term insurance coverage? Do you want to make your life easier by taking out a term insurance plan? you can use our app to find your coverage amount by using our term insurance calculator app....
Do you want to find out your term insurance coverage? Do you want to make your life easier by taking out a term insurance plan? you can use our app to find your coverage amount by using our term insurance calculator app.
You can take charge of your family's well-being and make informed decisions by using Term Insurance Calculator app. It is designed to be a user-friendly and easy process to find term insurance cover.
In the term insurance calculator app, you can input your details like name, age, retirement age, income, expenses, etc. to find your accurate coverage amount for a term insurance plan. It also considers some additional information about expenses for children (education and marriage) in the future, Liabilities such as a home loan, a retirement corpus for your spouse, and savings from your current wealth.
First, we will discuss the terms. What is term life insurance, and why should you need it?
Term insurance falls under the category of life insurance and serves as coverage for a predetermined period or term, usually spanning from 5 to 30 years. If the insured passes away during this period, the policy pays out a death benefit to the beneficiaries, offering financial support when they need it the most.
Term insurance provides a straightforward approach to financial protection. It is designed to offer pure life coverage without any investment component, which means the policy's primary focus is on providing a safety net for your loved ones in case of the unexpected.
For those with dependents, such as a spouse, children, or elderly parents, term insurance can be a lifeline. It ensures that even if you are no longer there to support them financially. They can still maintain their lifestyle, pay off debts, fund education expenses and cover daily living costs. If you have outstanding loans or mortgages, the death benefit can help prevent your loved ones from being burdened by these debts.
Previous Versions
Here you can find the changelog of Term Insurance Calculator since it was posted on our website on 2024-02-05 15:38:38.
The latest version is 1.0 and it was updated on 2024-04-19 17:21:25. See below the changes in each version.
Term Insurance Calculator version 1.0
Updated At: 2023-07-29
Changes: - First version release
Disclaimer
Official Google Play Link
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