Life insurance premium estimator

No. This is a rough planning estimate built from a simple illustrative formula, not a real underwriting calculation. Actual premiums are set by each licensed insurer from mortality tables, medical underwriting, your health disclosures, occupation and their own internal pricing, none of which this tool has access to. Use this figure only to get a ballpark sense of scale before you talk to an insurer, then get an actual quote for a real premium.

As with insurers everywhere, age is the single biggest factor, older applicants pay more because mortality risk rises with age. Smoking and tobacco use raise the premium further, insurers price smokers noticeably higher than non-smokers. The sum assured (cover amount) and policy term also scale the premium, more cover and a longer term generally cost more. Health conditions, family medical history, occupation and lifestyle can all move the price an actual insurer quotes you, on top of these basics.

A common rule of thumb is 10 to 15 times your annual income, enough for your family to replace lost income, clear outstanding loans and cover major future costs like children's education. Your actual need depends on your debts, dependents, existing savings and other cover you already hold, so treat any multiple as a starting point, not a fixed answer.

Life insurance in Nepal is sold by licensed life insurers regulated by the Nepal Insurance Authority (Nepal Beema Pradhikaran), the government body that replaced Beema Samiti under the Insurance Act 2079 (2022). Compare policies and get an actual quote directly from a licensed insurer or its agents, this estimator only gives a rough planning figure, not a quote.