Term Insurance Premium Chart

When you’re buying a term plan, the process often starts with the confusion of “why do premiums for the same cover vary so differently?” While a term insurance premium chart may seem helpful, without context, it can be misleading. 

At Ditto, we’ve seen many first-time buyers previously assume the lowest premium to be the best option until we helped them out. In this blog, we’ll explain what these charts actually show, how to read them correctly, and how they fit in choosing the right term plan for you. 

What is the Purpose of a Term Insurance Premium Chart?

Instead of calculating premiums individually for every insurer, a term life insurance premium chart lets you:

• Understand how premiums change with an increase in age
• Compare premium ranges across different term insurers
• Check affordability for different coverage amounts
• Get clarity before shortlisting plans

For first-time buyers, especially, a term insurance premium chart acts as a starting point. It sets expectations and prevents underestimating the cost of adequate life cover.

Here’s what a term insurance premium chart looks like:

Note: We have considered the example of healthy, non-smoking male profiles, covered for 2 crores till the age of 65. The reason for considering three policies in the table above is to showcase premium comparisons across different insurers in the market.

What Information Does a Term Insurance Premium Chart Show?

A typical term insurance premium chart includes the following details:

• Age of the policyholder (usually starting from 18 up to 60/65 years)
• Sum assured (₹1 crore, ₹2 crore, 5 crore, etc.)
• Policy term (20, 30 years, or up to 60-70 years of age)
• Premium payable (with frequency - Annual, Half-yearly, Quarterly, and Monthly)
• Gender
• Smoking status (in more detailed charts)

Term Insurance Premium for Male vs Female

Let’s consider an example of a 25-year-old non-smoking, healthy person, covered for ₹2 crore until the age of 65, paying annual premiums (regular-pay). 

One noticeable difference that you’d come across in a term life insurance premium chart is the premium variation between male and female policyholders.

This happens because, statistically, women tend to have a higher life expectancy than men. Since insurers expect to pay claims later, the risk is considered slightly lower, which results in lower premiums.

How to Use a Term Insurance Premium Chart to Choose a Plan?

01

Start With the Right Coverage

Decide your sum assured based on income, liabilities, and dependents, and not just what looks reasonable in the chart.

02

Compare at the Same Age and Policy Term

Always compare premiums for the same age, policy term, and coverage.

03

Use This for Shortlisting (Not Finalizing)

A term insurance premium chart helps narrow down options, but it shouldn’t be the only deciding factor.

04

Check Long-Term Affordability

A slightly higher premium is okay if the policy offers better features and claim support.

Note: Once you buy a term insurance policy, the premiums get locked in for the entire duration. 

Is a Term Insurance Premium Chart Enough to Choose a Policy?

While a term insurance premium chart is useful, it doesn’t show the full story. You also need to consider:

1) Key Performance Metrics

Check the Claim Settlement Ratio (CSR), Amount Settlement Ratio (ASR), solvency ratio, overall business volume, and complaint volume. These metrics give you insight into how reliably an insurer handles claims and whether it is financially stable.

2) Policy Inclusions and Exclusions

A low premium means little if important scenarios are excluded. Always review what is covered, what isn’t, and any conditions that could lead to claim rejection.

3) Add-ons and Riders Available

Riders such as critical illness cover, total and accidental permanent disability, or waiver of premium can significantly improve protection. A term insurance premium chart usually doesn’t account for the value these riders add.

4) Quality of Customer Support

Your family will interact with the insurer and not the premium chart during a claim. Easy documentation, clear communication, and responsive support can make a huge difference during stressful times.

Where Can You Find an Accurate Term Insurance Premium Chart?

You can find premium charts or premium examples in a few places:

1) Insurance company websites

Many insurers push you to an online calculator. Some also publish:

• Brochures with sample premiums
• Product annexures with premium rates (for certain plans)

It is common to see full rate tables for standardized products like Saral Jeevan Bima, while many mainstream term plans show examples and rely on calculators for exact quotes.

2) Comparison and advisory platforms like Ditto

Platforms like ours can help you compare plans and premiums with consistent assumptions across insurers.

However, charts available online are often generic. For the most accurate numbers, your age, health details, lifestyle habits, and income must be factored in. This is where expert guidance helps avoid costly mistakes.

Why Choose Ditto for Term Insurance?

At Ditto, we’ve assisted over 8,00,000 customers with choosing the right insurance policy. Why customers like Aaron below love us:

• No-Spam & No Salesmen
• Rated 4.9/5 on Google Reviews by 15,000+ happy customers
• Backed by Zerodha
• 100% Free Consultation

You can book a FREE consultation. Slots are running out, so make sure you book a call or chat on WhatsApp now!

Conclusion

A term insurance premium chart is useful for setting expectations, but it’s not a definitive pricing tool. Most premium charts are assumption-driven and built around standard profiles, which means they rarely reflect real-world scenarios. If your age, health, income, occupation, or lifestyle differs from those assumptions, the final premium can vary significantly. That’s why charts should be used only as a starting point for comparison, not the basis for a final decision.