Life Insurance Premium Calculator (LIPC) User Guide

With LIPC you may estimate premiums for Term Insurance, Life Insurance, and Pension contracts. All calculations are based on fair premium method and do not count administrative expenses and contribution to reserve funds. Therefore, real premiums as a rule will be higher then the calculated values.

1. Term Insurance Premium Calculation

      a. Select a Country

      b. Select "Term Insurance" under the "Type" list

      c. Select a Gender of an insured person

      d. Select an Age of an insured person

      e. Enter Interest Rate (per year)

      f. Click on the "Next" button. The new form will appear

      g. Enter the Insurance Sum (will be paid in the case the insured person will die during the term of the contract)

      h. Enter Total Number of Premiums will be paid. (It is assumed that each premium is paid at the beginning of the year.)

      i. Select the Term of the contract (in years)

      j. Click on the "Next" button. The new window with a premium's value will appear.

2. Life Insurance Premium Calculation

      a. Select a Country

      b. Select "Life Insurance" under the "Type" list

      c. Select a Gender of an insured person

      d. Select an Age of an insured person

      e. Enter Interest Rate (per year)

      f. Click on the "Next" button. The new form will appear

      g. Enter the Insurance Sum (will be paid in the case the insured person will die)

      h. Enter Total Number of Premiums will be paid. (It is assumed that each premium is paid at the beginning of the year.)

      i. Click on the "Next" button. The new window with a premium's value will appear.

3. Pension (per year) calculation

      a. Select a Country

      b. Select "Pension" under the "Type" list

      c. Select a Gender of an insured person

      d. Select an Age of an insured person

      e. Enter Interest Rate (per year)

      f. Click on the "Next" button. The new form will appear

      g. Enter a Pension's value (will be paid yearly starting from the Pension Age)

      h. Enter Total Number of Premiums will be paid. (It is assumed that each premium is paid at the beginning of the year.)

      i. Select the Pension Age (from which the pension will be paid)

      j. Click on the "Next" button. The new window with a premium's value will appear.