How To Calculate Sum Assured In Insurance?

How to Calculate Sum Assured for Term Plan?

Sum assured for a term plan that is calculated using the interest rate and the sum of the principal. Calculating the Sum Assured for a Term Plan:

Let’s suppose that you have Rs. 10,000 in your savings account with an interest rate of 5% per annum. You want to calculate how much your money will be worth after 10 years.

• Step 1: Calculate the principal for 10 years.
• Step 2: Calculate the interest for 10 years.
• Step 3: Add both results together to get your assured sum.

How to Calculate Sum Assured?

Sum assured is the guaranteed amount that an insurance policyholder will receive upon the occurrence of an event that triggers a claim. The sum assured is usually determined by various factors, including the policyholder's age, health status, income, and the type of insurance policy they choose.

The sum assured for a life insurance policy is typically based on the policyholder's income, expenses, liabilities, and the financial needs of their dependents. As a general rule of thumb, the sum assured for a life insurance policy should be at least 10 times the policyholder's annual income.

How to Calculate Sum Assured in Life Insurance?

Sum Assured is the amount of money that the life insurance company will pay out in case the policyholder dies. The sum assured is calculated by multiplying your family’s annual expenses by that number and then adding that to the net liabilities to get the approximate sum assured.

How to Download Edelweiss Tokio Life Insurance Statement?

To download an Edelweiss Tokio life insurance policy statement, you typically need to follow the below steps.

• Visit the official website of Edelweiss Tokio Life Insurance Company.
• Log into your account by providing your policy number and date of birth.
• If you haven't registered for an online account, you may need to create an account.
• Once logged in, find the option to download or view your policy statement.
• Verify that the document includes details such as policy coverage, beneficiaries, premiums, and any other relevant information.
• Then click on the relevant button to download the policy statement.
• If you encounter any issues, consider reaching out to your insurance company's customer support. They may be able to assist you in obtaining the necessary statements.

How to Download Canara HSBC OBC Life Insurance Statement?

To download a Canara HSBC OBC life insurance policy statement, you typically need to follow the below steps.

• Visit the official website of Canara HSBC OBC Life Insurance Company.
• Click on the “Customer Services” tab. Then click on “Download Statement”.
• Log into your account by providing your policy number and date of birth.
• If you haven't registered for an online account, you may need to create an account.
• Once logged in, find the option to download or view your policy statement.
• Verify that the document includes details such as policy coverage, beneficiaries, premiums, and any other relevant information.
• Then click on the relevant button to download the policy statement.
• If you encounter any issues, consider reaching out to your insurance company's customer support. They may be able to assist you in obtaining the necessary statements.

How to Download Bharti AXA Life Insurance Statement?

To download a Bharti AXA life insurance policy statement, you typically need to follow the below steps.

• Visit the official website of Bharti AXA Life Insurance Company.
• Click on the “Customer Services” tab. Then click on “Download Statement”.
• Log into your account by providing your policy number and date of birth.
• If you haven't registered for an online account, you may need to create an account.
• Once logged in, find the option to download or view your policy statement.
• Verify that the document includes details such as policy coverage, beneficiaries, premiums, and any other relevant information.
• Then click on the relevant button to download the policy statement.
• If you encounter any issues, consider reaching out to your insurance company's customer support. They may be able to assist you in obtaining the necessary statements.

How to Download Bajaj Allianz Life Insurance Statement?

To download a Bajaj Allianz life insurance policy statement, you typically need to follow the below steps.

• Visit the official website of Bajaj Allianz Life Insurance Company.
• Click on the “Customer Services” tab. Then click on “Download Policy Statement”.
• Log into your account by providing your mobile number and email id.
• If you haven't registered for an online account, you may need to create an account.
• Once logged in, find the option to download or view your policy statement.
• Verify that the document includes details such as policy coverage, beneficiaries, premiums, and any other relevant information.
• Then click on the relevant button to download the policy statement.
• If you encounter any issues, consider reaching out to your insurance company's customer support. They may be able to assist you in obtaining the necessary statements.

How to Download Ageas Federal Life Insurance Statement?

To download an Ageas Federal life insurance policy statement, you typically need to follow the below steps.

• Visit the official website of Ageas Federal Life Insurance Company.
• Log into your account by providing your policy number and date of birth.
• If you haven't registered for an online account, you may need to create an account.
• Once logged in, find the option to download or view your policy statement.
• Verify that the document includes details such as policy coverage, beneficiaries, premiums, and any other relevant information.
• Then click on the relevant button to download the policy statement.
• If you encounter any issues, consider reaching out to your insurance company's customer support. They may be able to assist you in obtaining the necessary statements.