2007-02-05 18:28:24 · 3 answers · asked by K.Vinod G 1 in Business & Finance ➔ Insurance
Basically i want to build a premium calculator feature in a software application? I want the exact formula so that i can build the component.. Thanks in advance
2007-02-06 14:12:46 · update #1
I don't know if they calculate life insurance differently in India. But I guess the calculation is the same with all the companies.
In all life insurance companies, they have their own rate book. If you have this rate book, calculating the monthly, quarterly, semi-annual, and annual premiums is easy.
Anyway, you want to contact the LIC directly and say you want to create a software program for them. My company design such program and agents can download it onto their pda or palm pilot. They even put life apps on the pda or palm pilot to avoid wasting so much paper. Let's say the company decided to be environmentally friendly to save many trees.
2007-02-06 14:35:15 · answer #1 · answered by Anonymous · 4⤊ 0⤋
If you mean Life insurance, just divide the annual premium by the number of payments. Some companies may charge a nominal installment fee of less than $10, if any per installment.
2007-02-06 02:35:07 · answer #2 · answered by california bill 2 · 0⤊ 1⤋
for exact details contact LIC agent, give him all the details and he will work out the same in no time, may give on the spot
2007-02-06 02:37:59 · answer #3 · answered by pali@yahoo.com 6 · 0⤊ 0⤋