Home Loan Insurance Calculator

A home loan insurance calculator is an easy-to-use online tool that shows you how much it will cost to protect your housing loan with insurance. The home loan calculator instantly provides an estimate of your premium and EMI after you enter a few basic, non-personal details. This makes it easier to plan your finances. This is especially helpful because home loan insurance makes sure that your family won't have to pay off the loan if something unexpected happens. A home loan insurance calculator lets you compare plans and make smart choices that give you full protection without breaking the bank.

Home Loan Amount

Loan Tenure

5 Years 30 Years

Interest Rate

5% 15%

Loan Tenure Completed

0 40 yrs

Get the coverage you need-quick and easy! Choosing the right Home loan insurance is now effortless. Simply enter your details, hit “Calculate,” and receive a personalized plan designed just for you.

Protect Your Home Loan with the Best Home Loan Insurance Plan

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What is Home Loan Insurance?

Home loan insurance is a type of insurance that helps the borrowers protect their loved ones from the burden of having to repay the remaining loan in case of the policyholder’s untimely death. The policy payout can help your family take care of the remaining loan as well as any other financial responsibilities, depending on the sum assured selected. The premiums for these online home loan insurance plans are up to 72% more affordable than offline plans and allow you to secure your family without breaking your budget.
You can also look at the term insurance for home loan protection as an alternative.

What is a Home Loan Insurance Calculator?

A home loan insurance calculator can be defined as a financial online tool that helps you calculate how much your premium amounts should be so that payout from the plan is enough to cover your outstanding home loan. This online calculator helps you determine the right balance between the premium paid and cover amount to make sure right usage of your salary.

How Does a Home Loan Insurance Premium Calculator Work?

A home loan insurance premium calculator will help you plan your finances better by providing you with the correct idea about the amount you will have to pay for insurance. Several factors are taken into consideration, such as:

Loan amount
Policy tenure
Interest rate

Ensure your family keep the home, not burden

Term Plans

LIFE COVER

₹ 1 Crore

STARTS AT

₹ 16/day⁺

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LIFE COVER

₹ 50 Lakh

STARTS AT

₹ 12/day⁺

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LIFE COVER

₹ 75 Lakh

STARTS AT

₹ 8/day⁺

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Why Use a Home Loan Insurance Calculator?

Here are the reasons why you should use a home loan insurance calculator:

Correct Premiums:

Get precise calculations about how much home loan insurance costs based on your specific loan details.

Instant Results:

The home loan insurance calculator saves time and effort by getting quick answers.

Easy Comparisons:

Compare how different variables, such as the loan amount or the loan term, impact your home loan insurance premium calculator outputs.

Better Budgeting:

Use the home loan prepayment calculator to figure out how much home loan insurance will cost you up front. This will help you plan your finances better.

Informed Decisions:

Knowing how different home loan insurance options affect the total cost of your home loan calculator can help you pick the best plan.

What are the Benefits of Using a Home Loan Insurance Premium Calculator?

There are many benefits to using an online home loan EMI calculator:

Financial Planning: This home loan calculator can help you figure out how much money you can afford to pay each month on your loan.
Loan Comparison: The home loan EMI calculator lets you look at different loan offers from banks and opt for the one with the best terms.
Quick & Easy: Saves time by giving you an instant EMI calculation without complicated manual formulas.
Accurate Estimates: An EMI calculator provides precise monthly payment amounts based on loan amount, tenure, and interest rate, reducing the chances of miscalculation.
Informed Decision Making: By visualising your repayment schedule, you can make better decisions regarding loan amount, prepayments, or refinancing.

How to Calculate Premium Using Best Home Loan Insurance Calculator?

Here is how the home loan insurance premiums are calculated:

01 Loan Amount:
How much money did you borrow for your home loan?
02 Loan Tenure:
How long do you have to pay back the loan?
03 Interest Rate:
What is the interest rate that applies to your home loan?
04 Completed Repayment Term:
How many years have you already paid the home loan back to the bank?

All of these things affect how much insurance you need and how much you will pay for it.

What is the Home Loan Insurance EMI Calculator?

The home loan insurance EMI calculator is an easy to use tool that will help you get a rough estimate of what you will have to pay as a premium to insure your home loan. With a few basic details such as loan amount, loan term, interest rates and type of coverage, you can find out how much in total you will pay in EMIs for your insurance plan. This way, you can see how much your total premium will be on top of what you pay every month for your home loan. Plus, you can find out what premium you can afford and still protect the total amount due on your home loan. By using this home loan prepayment calculator, you can plan ahead, compare various types of coverage options and make a better choice to ensure that your loved ones do not suffer the consequences of not being able to pay their EMIs.

How to Use a Home Loan Insurance EMI Calculator?

Here is how you can use the EMI calculator for home loan:

Step 1: Enter the home loan amount.
Step 2: Select the term as per the home loan repayment tenure.
Step 3: Input the applicable interest rate.
Step 4: The insurance for home loan EMI calculator provides an estimated EMI for the insurance premium.
Step 5: This helps borrowers choose an insurance for home loan that aligns with their financial capacity.

What are the Factors Affecting Home Loan Insurance Premiums?

Here are the factors that affect your home loan insurance premiums:

01 Loan Amount:
The total home loan amount that you have borrowed from the bank will affect your premiums, as higher loans will result in higher premiums.
02 Loan Tenure:
Home loans with longer repayment periods will increase the risk to the lender, and thus, your home loan insurance premiums will increase as well.
03 Health and Lifestyle:
In case you are a frequent smoker, drinker, or you partake in adventure sports, your premiums will be higher.
04 Loan Repaid:
The duration and amount for which you have repaid the loan.
05 Credit Score:
If you have a good credit score, you might receive lower premiums due to the less likelihood of claims.
06 Age:
Younger home loan borrowers are required to pay lower premiums as they are considered to have lower risk to life.

Who Should Get Home Loan Insurance?

While home loan insurance is not mandatory, it is suggested that several individuals should consider buying an insurance for home loan as it can help them secure the property and their family’s financial stability. Here are some cases where a property insurance home loan plan can help the individuals:

Sole Breadwinners:

If you are the only person earning in the household, this insurance is critical to ensure your family does not lose their home due to the debt repayment burden after your sudden passing.

First-Time Home Buyers:

They should prioritize home loan insurance immediately, as it guarantees their most significant asset is protected from day one. It removes the risk that their family will be forced to sell the new home due to the sudden burden of EMI payments.

People with Large Loan Amounts:

When you have taken a large home loan, this insurance for home loan helps protect your family from the financial strain of repaying the balance amount in case of an eventuality.

Dependent Parents or Young Children:

If you have dependent parents or young children, this plan makes sure that they don't have to worry about EMI payments or losing the house.

People with Non-liquid Assets:

If most of your wealth is tied up in non-cash assets (like a business or ancestral property), the insurance provides the necessary liquid funds to settle the loan instantly.

Co-Borrowers on a Joint Loan:

If you and your spouse have a joint home loan, the insurance protects the surviving co-borrower from having to pay all of the EMI payments on their own.

How Does Home Loan Insurance Work?

Home loan insurance works by covering the family’s financial burden in case of the borrower’s untimely death during the repayment period. Here is a step by step process of how the home loan protection plan works:

Policy Purchase: The borrower buys a home loan insurance plan at the time of getting the home loan.
Premium Payment: The borrower makes regular premium payments to keep the family's coverage and financial protection in place.
Cover Term: People usually go for a policy cover term that is equal to or more than the loan repayment period.
Claim Process: In case of the borrower’s death during the repayment period, the nominee receives the policy payout and uses the amount to pay off the remaining loan.

What are the Advantages of Buying a Home Loan Insurance?

The following are the advantages of purchasing a home loan insurance:

Protection for the Family: The borrower can protect their loved ones against the financial burden of their family having to pay off the remaining loan in their absence.
Safeguarding Home/Property: The home loan insurance plan makes sure that your family does not lose their home in case of your unforeseen demise due to non-payment of loan.
Security for Lender: A home loan insurance policy gives the lender peace of mind that they will get their money back, even if the borrower can't pay it back.

How to Choose the Best Home Loan Insurance Plan?

The following are the features that you should look for when selecting the best home loan insurance plan:

Sum Assured: The sum assured should be enough to cover your remaining loan amount. However, it is suggested that you opt for a cover that is required, as a larger cover will have a higher premium.
Premium Pay Options: You can choose from the various premium pay options like single, regular pay, pay till 60, or limited premium pay terms.
Additional Riders: Several home loan insurance plans offer the benefit of adding riders to the base plan to enhance the coverage of the policy. You can add critical illness, accidental death, and accidental disability cover to the base plan.
Affordable Premiums: Always ensure that the premiums of your desired insurance plan are affordable by you, as you will have to pay the premiums until the end of the repayment period.
Claim Settlement Ratio: The claim settlement ratio of the insurer shows how likely the insurer is to settle your family’s claim in your absence.

How to Choose the Right Home Loan Insurance Calculator?

Here's what to look for when choosing a home loan insurance calculator to get an estimate of how much home loan insurance cost you need to pay:

User-Friendly Interface:

Simple, easy-to-navigate design with clear input fields for quick results.
Comprehensive Inputs:

Collects important information like the loan amount, interest rate, length of the loan, your age, annual income, and lifestyle choices (like smoking) to give you accurate quotes.
Accurate & Personalized Estimates:

Uses up-to-date data and algorithms to give realistic premium figures based on your specific profile.
Comparison Feature:

The comparison feature lets you see and compare premiums from different types of insurance or providers.
Impact Analysis:

This tool lets you change things like the loan amount and length of the loan to see how they affect your premium and coverage.

Wrapping it Up!

A home loan insurance calculator and home loan insurance EMI calculator are essential tools for selecting the right policy for your financial needs. You should use an online property insurance premium calculator to make informed decisions and ensure financial security.

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FAQs

What is the premium for 30 lakh home loan insurance?

The cost of a term plan for ₹30 lakh home loan insurance depends on your age, the length of the policy, your health, and how long the coverage lasts. A 30-year-old who doesn't smoke may be able to afford a large ₹30 lakh sum assured over a 20-year term. You can use a home loan term insurance calculator to get exact approximates of your premiums based on your profile.
Is it worth taking insurance for a home loan?

Yes, taking insurance for a home loan is worth it. It makes sure that in case of your untimely death, your family won't be burdened with the loan repayment. A term insurance policy equal to your loan amount provides peace of mind and protects your assets.
What is the premium for 50 lakhs home loan insurance?

The cost of a ₹50 lakh home loan insurance policy through term insurance depends on your age, the length of the policy, and your medical history. You can get a personalized premium estimate by using a term insurance for home loan calculator.
What is a property insurance premium calculator?

A property insurance premium calculator is a tool you can use online to figure out how much you need to pay to protect your home or other property. It gives you an instant premium estimate when you enter information like the property's value, location, and coverage amount. This makes it easier to plan your insurance budget.
Why is property insurance home loan important?

It is important to have property insurance because it protects your house from damage against fires, natural disasters, and other events while you are paying off the loan. This makes sure that your property and your financial obligations are safe, even if something unexpected happens.
How does a homeloan prepayment calculator work?

A homeloan prepayment calculator tells you how much interest and time you can save on your loan by paying more than the minimum amount. Just type in the loan amount, frequency, and prepayment amount, and the calculator will show you right away how much less your EMI will be and how much faster you'll be able to pay off the loan.
What is the use of an EMI calculator for home loan?

A home loan EMI calculator can help you figure out how much you will have to pay each month based on the amount of your loan, the interest rate, and the length of the loan. This helps you better plan your money and pick a loan option that fits your ability to pay it back.
How does a home loan eligibility calculator help borrowers?

A home loan eligibility calculator looks at your age, income, debts, and other financial information to figure out the most money you can borrow. This tool helps you know your borrowing capacity before applying for a loan, reducing the chances of rejection.
Why should you consider insurance for home loan?

Insurance for home loan ensures that your family is not burdened with EMIs if something unfortunate happens to you. The insurer repays the outstanding loan amount, allowing your family to retain ownership of the home without financial stress.
What is a home mortgage insurance calculator with prepayment?

A housing loan insurance calculator with prepayment is an online tool that helps you calculate the additional premiums you need to pay towards your home loan, over and above the base EMI.
What is the Home loan EMI calculator with prepayments taxes & insurance India?

The Home loan EMI calculator with prepayments taxes & insurance India is a calculator that helps you check the regular prepayments you would need to make sure that your loan repayment term is decreased and the total interest payable. You can also see the new EMIs for your home loan insurance that you would need to pay and then check with your financial advisor as how it would impact your taxes.
What is the Personal loan prepayment calculator?

Personal Loan Prepayment Calculator is an online tool that helps you know how a part payment or extra payment on your personal loan will impact your total interest, EMI and loan tenure. You can use the personal loan prepayment calculator to estimate your savings. Further, you can make a plan to become debt-free faster. Just enter the details of your loan and the extra payment you want to make to begin. The tool calculates the benefit of reduced interest burden and short loans to help analyze the scenario of paying more versus paying regular EMIs.

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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. ₹361/month is the starting price for a ₹1 crore loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10

+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

Women

+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.