Premium Calculation

Step 1.> Less mode rebate from TP = A

Step 2.> Less Sum Assured Rebate form A = B
Step 3.> Multiply per 1000 S A with B = C
Step 4.> Add Accident Benefit per 1000 SA on C = Premium to be paid

Eg. Taken for table 168 fot Term 10 years with Premium paying Term 10 years with 2 lac
SA, Age 30 years.

TP = 118.75

Step 1.> Less Mode rebate

Mode rebate for Yearly 2%
Mode rebate for Half Yearly 1%
Mode rebate for Quarterly- Nil
Mode rebate for Monthly - + 5% ( add 5% more on TP)

118.75 * 2% =2.375
= 118.75
- 2.375
116.375 A

Or 118.75*0.98 = 116.375

Step 2.> Less SA rebate

50,000- 1 lac Nil
1,05000 & Above Rs.2 / 1000 SA

116.375
- 2.000
114.375 B

Step 3.> Multiply current TP with Sum Assured

2,00,000/1000 = 200

114.375
*200 .
22,875 C

Step 4.> Add Accident Benefit per 1000 SA

22,875
+ 200
23,075  Premium Need to be pay per year