body {
font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif;
line-height: 1.6;
color: #333;
max-width: 1200px;
margin: 0 auto;
padding: 20px;
background-color: #f9f9f9;
}
.calculator-container {
background: #fff;
padding: 30px;
border-radius: 12px;
box-shadow: 0 4px 15px rgba(0,0,0,0.1);
margin-bottom: 40px;
border-top: 5px solid #2c3e50;
}
.calc-grid {
display: grid;
grid-template-columns: 1fr 1fr;
gap: 20px;
}
@media (max-width: 768px) {
.calc-grid {
grid-template-columns: 1fr;
}
}
.form-group {
margin-bottom: 15px;
}
label {
display: block;
margin-bottom: 8px;
font-weight: 600;
color: #2c3e50;
}
input, select {
width: 100%;
padding: 12px;
border: 1px solid #ddd;
border-radius: 6px;
font-size: 16px;
box-sizing: border-box;
transition: border-color 0.3s;
}
input:focus, select:focus {
border-color: #3498db;
outline: none;
}
.btn-calc {
background-color: #3498db;
color: white;
border: none;
padding: 15px 30px;
font-size: 18px;
font-weight: bold;
border-radius: 6px;
cursor: pointer;
width: 100%;
margin-top: 20px;
transition: background-color 0.3s;
}
.btn-calc:hover {
background-color: #2980b9;
}
.results-box {
margin-top: 30px;
background-color: #f0f7fb;
border: 1px solid #d6eaf8;
border-radius: 8px;
padding: 25px;
text-align: center;
display: none;
}
.result-item {
margin: 15px 0;
padding: 10px;
border-bottom: 1px solid #e1e1e1;
}
.result-item:last-child {
border-bottom: none;
}
.result-label {
font-size: 14px;
color: #7f8c8d;
text-transform: uppercase;
letter-spacing: 1px;
}
.result-value {
font-size: 32px;
color: #2c3e50;
font-weight: 800;
margin-top: 5px;
}
.disclaimer {
font-size: 12px;
color: #7f8c8d;
margin-top: 20px;
text-align: center;
}
.content-section {
background: #fff;
padding: 30px;
border-radius: 8px;
margin-top: 30px;
box-shadow: 0 2px 5px rgba(0,0,0,0.05);
}
h2 {
color: #2c3e50;
border-bottom: 2px solid #3498db;
padding-bottom: 10px;
margin-top: 30px;
}
h3 {
color: #34495e;
margin-top: 25px;
}
p {
margin-bottom: 15px;
}
ul {
margin-bottom: 20px;
padding-left: 20px;
}
li {
margin-bottom: 10px;
}
.error-msg {
color: #e74c3c;
font-size: 14px;
margin-top: 5px;
display: none;
}
function calculateInsuranceRate() {
// Inputs
var age = parseInt(document.getElementById("applicantAge").value);
var gender = document.getElementById("applicantGender").value;
var smoker = document.getElementById("nicotineUse").value;
var health = document.getElementById("healthClass").value;
var coverage = parseInt(document.getElementById("coverageAmount").value);
var term = parseInt(document.getElementById("termLength").value);
// Validation
var ageError = document.getElementById("ageError");
if (isNaN(age) || age 75) {
ageError.style.display = "block";
document.getElementById("resultBox").style.display = "none";
return;
} else {
ageError.style.display = "none";
}
// Base Calculation Logic (Simulation of Actuarial Tables)
// Base cost per $1000 of coverage annually for a 20 year old male
var baseRatePer1000 = 0.35;
// Age Factor: Rates increase exponentially with age roughly 8-9% per year
// Formula: Base * (1.09 ^ (Age – 20))
var ageFactor = Math.pow(1.085, (age – 20));
// Term Factor: Longer terms carry higher risk later in life
var termFactor = 1.0;
if (term === 10) termFactor = 1.0;
else if (term === 15) termFactor = 1.25;
else if (term === 20) termFactor = 1.55;
else if (term === 30) termFactor = 2.4;
// Gender Factor: Females generally live longer, lower rates
var genderFactor = (gender === "female") ? 0.85 : 1.0;
// Smoker Factor: Significant increase for nicotine use
var smokerFactor = (smoker === "yes") ? 3.5 : 1.0;
// Health Class Factor
var healthFactor = 1.0;
switch(health) {
case "preferred_plus": healthFactor = 0.75; break;
case "preferred": healthFactor = 1.0; break;
case "standard_plus": healthFactor = 1.35; break;
case "standard": healthFactor = 1.75; break;
}
// Calculate Cost Per $1000
var ratePer1000 = baseRatePer1000 * ageFactor * termFactor * genderFactor * smokerFactor * healthFactor;
// Calculate Total Annual Premium
// (Coverage / 1000) * Rate per 1000 + Annual Policy Fee (approx $60)
var annualPolicyFee = 60;
var annualPremium = ((coverage / 1000) * ratePer1000) + annualPolicyFee;
// Determine Monthly Premium (usually slightly higher than Annual/12 due to admin fees, approx 8.5% of annual)
var monthlyPremium = annualPremium * 0.0875;
// Display Results
document.getElementById("monthlyResult").innerHTML = "$" + monthlyPremium.toFixed(2);
document.getElementById("annualResult").innerHTML = "$" + annualPremium.toFixed(2);
document.getElementById("resultBox").style.display = "block";
}
Understanding Term Life Insurance Rates
Term life insurance is one of the most affordable ways to protect your family's financial future. Unlike permanent life insurance, term life provides coverage for a specific period—typically 10, 15, 20, or 30 years. If the insured passes away during this term, the beneficiaries receive a tax-free death benefit.
The rates for term life insurance are determined by a process called underwriting, which assesses the risk of the insurance company paying out a claim. This calculator provides an estimate based on the most common rating factors used by major insurers.
Key Factors That Influence Your Premium
Insurance carriers look at statistical data to determine your rate class. The following variables have the biggest impact on your monthly cost:
- Age: This is the primary driver of cost. Rates increase exponentially as you get older. Locking in a rate while you are young can save you thousands of dollars over the life of the policy.
- Health Class: Insurers categorize applicants into classes such as "Preferred Plus," "Preferred," and "Standard." These are based on your height, weight, blood pressure, cholesterol, and family history.
- Nicotine Use: Smokers pay significantly higher rates—often 3 to 4 times more than non-smokers—due to the associated health risks.
- Term Length: Longer terms (e.g., 30 years) cost more because the likelihood of death increases as the policy extends into older age.
- Gender: Statistically, women have a longer life expectancy than men, resulting in slightly lower insurance premiums for the same coverage.
How Underwriting Works
When you apply for a term life policy, the quoted rate is tentative. The final rate is finalized after underwriting, which may include:
- A paramedical exam (blood and urine sample, height/weight check).
- A review of your medical records from your primary care physician.
- A check of your driving record (MVR) and prescription drug history.
If you are in excellent health with no history of major illness or risky hobbies (like skydiving), you are more likely to qualify for "Preferred Plus" rates, which offer the lowest premiums available.
Choosing the Right Coverage Amount
A general rule of thumb is to carry life insurance coverage equal to 10 to 12 times your annual income. This creates a financial safety net that can replace your salary, pay off a mortgage, and fund future expenses like college tuition for your children.
Frequently Asked Questions
What happens when the term ends?
When your term expires, the coverage ends. You usually have the option to renew the policy annually at a much higher rate, convert it to a permanent policy without a medical exam, or simply let the policy lapse if coverage is no longer needed.
Are term life insurance premiums tax-deductible?
Generally, no. Personal life insurance premiums are paid with after-tax dollars and are not tax-deductible. However, the death benefit paid to your beneficiaries is typically income tax-free.
Can I get coverage if I have a pre-existing condition?
Yes, many people with pre-existing conditions can get term life insurance. You may be rated "Standard" or "Sub-standard" (Table rating), which means your premiums will be higher than someone in perfect health, but coverage is often still obtainable.