Know why astrologers, tarot card readers and other fortune tellers have a job? That’s because everyone wants to know how their life will turn out, how much money they will have, how long they will live?
Now if this information was easily predictable, not only would it help you plan your life like a pro, but it would also let you ensure a comfortable financial future for you and your loved ones.
While it is impossible to foretell one’s exact lifespan, an online life expectancy calculator can show you how to calculate life expectancy.
Life expectancy calculator: what and why
A life expectancy calculator estimates your average life expectancy. If your next question is, ‘What is average life expectancy?’, it is the approximate age you expect to live up to.
How can a life expectancy calculator know this? Not by magic, but by referencing your country’s data from the latest statistical models and identifying some commonalities. The good news is that your average life age can be in your control – as it is also influenced by other parameters such as age, gender, lifestyle habits, diet, exercise, and the environment you live in. Making positive changes to these can add to your years.
By now you’re thinking, ‘what’s the fuss about life expectancy age’? Life expectancy age is the most important factor insurance companies consider when calculating the premiums you pay.
If it’s not magic, what is it?
Here’s how a life expectancy calculator works. It begins by asking you a series of personalised questions pertaining to your age, gender, lifestyle habits, stress levels, family and medical history, and more. Once you have answered these, the lifespan calculator computes your life expectancy age using a specific formula. Be honest with your answers or the result could go against you.
A life expectancy calculator can be life saving
Yes, while a life expectancy calculator is a primary tool for premium calculation, a low score can also be a wake-up call regarding the status of your health and finances. This can help you take certain important and informed decisions that will improve your overall wellbeing. Remember, the better your health, the lower the insurance premium you will be charged.
Think about it, especially if you’re young or middle-aged, there are so many responsibilities to fulfill – such as your children’s higher education and marriage, buying a house, retirement planning, healthcare costs that come with age. Keeping your health in check will enable you to get the best out of your life insurance plans and fulfill all your personal and family goals.
Where to invest
IndiaFirst Life offers savings and investment plans along with life cover options to kickstart your financial planning.
Investment Plans: IndiaFirst Life Radiance Smart Invest Plan offers the utmost safety with 10 fund options and unlimited switches that let you control your investment, to take advantage of changing market conditions. Zero allocation charges also give you more returns on your investment.
IndiaFirst Life Guaranteed Single Premium Plan guarantees 7X** returns on investment for a policy term of 30 years, on a one-time payment.
Savings Plans: IndiaFirst Life Guarantee Of Life Dreams Plan is a life insurance plan that helps you with a regular income from as early as end of 1st policy^ month. A savings solution that creates a second source of income, to provide financial protection for your family and beat inflation.
IndiaFirst Life Guaranteed Protection Plus Plan is a unique term life insurance plan structured to protect your family, even if any unexpected misfortune were to happen. Plus, its diverse options help you find the plan that best suits your needs.
Whether it’s savings or investment, the earlier you start, the better! A financial expert will be able to find the right solutions after thoroughly assessing your situation.
Frequently Asked Questions
1) What is my life expectancy?
You can calculate your life expectancy by using an online life expectancy calculator.
2) What is average life expectancy?
Average life expectancy is an estimate of the average number of additional years you will live, depending on your age, lifestyle, health and other factors. It is a hypothetical measure used by insurance companies to determine the amount of premiums you will have to pay.
3) Why is it important to know life expectancy?
Knowing your life expectancy can benefit you in many ways. It helps indicate the premium amount towards your insurance policy. It can help you better plan your financial future. And lastly but equally important, it can help you make healthier lifestyle choices that will improve your overall wellbeing.
4) Why is a Healthy Lifestyle Important?
The answer is obvious. A healthy lifestyle contributes to your physical, mental, emotional, and even your financial wellbeing. It keeps chronic or lifestyle ailments away; this saves you a ton of money which can be invested to generate higher returns or achieve life goals. When you are healthy, you are happy and so is your family.
Disclaimer: **All the benefits under this plan are guaranteed as long as the policy remains in force. 7 times returns applies to a policy term of 30 years only. Premium considered is exclusive of GST, applicable taxes or extra premium, if any.
^Only if Immediate Income option with Monthly income payment frequency is chosen. Income will be paid at the end of the month.
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