Savings and Investment Calculator

Many prospective investors think saving and investing money are synonymous with each other, which is why they need an investment calculator and savings calculator. Saving money simply means keeping a certain amount aside for later use. On the other hand, investing money calls for selecting suitable financial instruments to get good returns


The working of investment calculators and savings calculators is based on various factors, one of which is the expected rate of returns. While several investment calculators are available online, you need to pick the right one based on the instrument chosen to know how to calculate return on investment. For instance, use a ULIP calculator if you want to invest money in a ULIP to avail its benefits.

Let’s talk about savings and investment calculators in detail.

What is an Investment Calculator?

An investment calculator is an effective tool that allows individuals to get an idea of the investment returns generated through a specific instrument or plan. Most investment calculators show results based on the chosen invested amount, period of investment, and expected rate of return. This is one reason why they are also called Return on Investment calculators.


Investment calculators are designed to provide potential investors with an estimate of the returns they can expect. However, you should know that the actual returns may differ from those shown by an investment calculator.

For example, a ULIP calculator gives a rough idea of all the benefits you will receive under the plan you choose, the amount to be invested, payment tenure, and frequency. Using a ULIP calculator does not guarantee returns at a pre-defined rate.

How Does an Investment Calculator Work?

Before you dive deeper into how an investment calculator works, you must know that different calculators are designed to work differently. You can find investment calculators online on the official websites of insurance companies and many others. The working of an investment calculator may also differ based on the products being sold through it.

Take an example of our investment calculator dedicated to the Max Life Smart Wealth Plan. At the first step of using this investment calculator, you need to choose from the given variants, as shown below:


You then need to enter your personal information along with details like premium payable, payment mode, and policy period in this investment calculator’s respective fields. Finally, you see the maturity and death benefits calculated by this investment calculator based on the policy terms.


Similarly, a ULIP calculator is available on the Max Life Insurance website, which helps give you an understanding of the benefits you can get under our ULIP plans. Like the investment calculator, this ULIP calculator estimates the total premium amount payable and the related returns.

More About ULIP Calculator

A ULIP calculator is an online tool that allows insurance buyers to calculate the premium payable and the corresponding ULIP returns based on the assumed rate of returns . Based on the premium and policy period, a ULIP calculator gives an estimate of the returns offered by a specific plan. You may also find certain ULIP calculators that help compare different plans simultaneously, thus helping you zero in on the best plan.

With several ULIP plans available in the market, it often becomes challenging for many investors to select the one that suits their needs. A ULIP calculator helps in this regard, enabling them to compute the returns based on the amount they can invest to achieve various financial goals.

Using a ULIP calculator is quite easy once you have the crucial information like the amount to be invested, plan term, and premium payment tenure handy. After you enter all the details in different steps, using a ULIP calculator, you can get an idea of the amount you will accumulate under the plan.

Advantages of Using an Investment Calculator

A return on investment calculator shows an estimate of the returns you can receive on the investment. Knowing this is important as any investment decision impacts your overall financial planning in the big picture.

Investment calculators for different instruments also give you a better idea about their suitability for your financial goals. Particularly for risk-averse investors, an investment calculator holds significant value as it helps them find safe investment options. Also, the results shown by an online investment calculator are more accurate than manual calculations.

Steps to Use an Investment Calculator

The steps of using an investment calculator online may differ depending on the calculator you choose.


Typically, there are some common steps to use any investment calculator, including the following:

1.Select an investment plan from the options given in an investment calculator.2.Enter personal information like your name, gender, and date of birth.3.Enter the premium you would want to pay (monthly or annually) for a specific investment plan. For some plans, the investment calculator also shows a minimum limit for the premium you can select.4.Enter the premium payment tenure and policy period in the next step of using the investment calculator.5.Enter the benefit payout frequency, if asked.6.Add suitable riders to the chosen investment plan.7.Submit the details to get an estimate from the return on investment calculator.

What is a Savings Calculator?

The savings calculator helps determine the rate at which your savings would grow over time. Most of the savings calculators available online are related to certain savings and income plans. Based on the details you provide, a savings calculator will give you an estimation about the growth of your savings. It helps individuals in planning for different financial goals in life.


Whether your goal is to achieve guaranteed savings or guaranteed income, you can use a savings calculator to determine the assured returns under a specific savings plan. Before you start using a savings calculator, make sure you assess your financial needs, and decide on an amount you can save regularly.

How Does a Savings Calculator Work?

When you plan to save a certain amount regularly, you want to know the interest rate or returns you can get. This is what a savings calculator does – it tells you about the expected returns for a specific amount saved under a plan over a certain tenure. Various online savings calculators also provide the details of life cover component associated with the chosen plan, if any.

Let us consider how the savings calculator associated with Max Life Savings and Income Plans work –

1.Start using this savings calculator by providing details, including your name, date of birth, gender, and annual income.


2.Choose from the options of guaranteed savings, guaranteed income, or market-linked child plan given in this savings calculator.

3.Enter the amount you can save monthly or annually under the plan selected.

4.Select the plan tenure and benefit period as given in the savings calculator.

5.You can see the details of assured returns and life insurance coverage, as shown below:


Tips for Invest Money Smartly

All the money-matters require careful consideration of diverse related aspects before you make any decision. Even the choice of a savings or investment calculator comes later than many other crucial steps. Here are a few tips for investing or saving money the right way:

1.Check your risk appetite and see if you can take the risk associated with investing money in different market-linked instruments. This is to be done even before you use an investment calculator.

2.Assess your financial goals to understand if saving money can fulfil them all. If not, then look for a suitable investment plan and estimate the benefits using an investment calculator.

3.Consider the benefits of various savings or investment plans before you zero in on any of them. Then calculate the premium payable using an investment calculator.

4.Select an extended investment period. You can easily check the impact of the investment period on returns using an investment calculator online.


1.Why should I use an investment calculator?

An investment calculator helps in making an informed decision to invest money in the right instruments. It also tells you about the impact of invested amount and investment period over the expected returns.

2.When should I start investing money?

There is no specific age to begin investing money. You can start your investment journey based on your current financial profile and life goals. Begin with using an investment calculator to know how to calculate return on investments.

3.Should I invest or save money for the future?

Investing money comes with greater risk but higher returns. However, you can save money in a low or zero-risk savings plan to get assured returns. If you are risk-averse, use a savings calculator to find a suitable plan based on your needs.

4.What will happen if I invest money without using any investment calculator?

The risk of capital loss may increase if you do not make informed investment decisions. You can lower this risk by gaining knowledge about the risk-to-return ratio of different investment plans using investment calculators.

5.Are online ULIP calculators paid or free?

Most of the online investment calculators, including ULIP calculators, are available for use at no cost. It means you can easily use these investment calculators without worrying about paying money to access them.


IRDAI Clarifies to public that:

· IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premium.

· Public receiving such phone calls are requested to lodge a police complaint.

IRDAI - Registration No. 104. ARN/Web/01/080719 Category: Life. Validity: Valid. Corporate Identity Number (CIN):U74899PB2000PLC04-5626. Trade logo displayed belongs to Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. respectively and are used by Max Life Insurance Co Ltd under a license.

Copyright @2016 Max Life insurance Co. Ltd.

All Rights Reserved. An ISO 9001:2008 Certified Company.

Max Life Insurance Co. Ltd. is a Joint Venture between Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Registered Office: 419, Bhai Mohan Singh Nagar, Railmajra, Tehsil Balachaur, District Nawanshahr, Punjab -144 533.

Corporate Office :

Max Life Insurance Co. Ltd., 3rd, 11th, and 12th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram (Haryana) - 122002.

Operation Center :

Max Life Insurance Co. Ltd, Plot No. 90-A Udyog Vihar, Sector 18, Gurugram (Haryana) - 122015.

Helpline: 1860 120 5577 (9:00 A.M to 6:00 P.M Monday to Saturday) *Call charges apply.

Online Term Plan Helpline: 1800 200 3383.

Fax Number:0124-4159397.

Email ids:;

Life Insurance Coverage is available in this Product


Unit Linked Insurance Products (ULIPs) are different from the traditional insurance products and are subject to the risk factors. The premium paid in the Unit Linked Life Insurance Policies is subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Max Life Insurance is only the name of the insurance company and Max Life Online Savings Plan (UIN: 104L098V04) is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges from your Insurance agent or the Intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these funds, their future prospects or returns.

*#Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your Insurer carrying on life insurance business. The assumed rates of return (4% p.a. and 8% p.a.) shown in the illustrative example are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your Policy depends on a number of factors including future investment performance. The guaranteed and non-guaranteed benefits are applicable only if all due premiums .The Maturity Benefit shown in the illustrative example are inclusive/exclusive of taxes.

Standard Premium For 24-Year Old Male, Non-Smoker, 25 Years Policy Term, 25 Year Premium Payment Term (exclusive of GST).

‘Standard premium for 35-year old male, Non-smoker, 15 years policy term, 10 year premium payment term (exclusive of GST)'

Max Life Smart Term Plan (UIN: 104N113V02), Max Life Smart Term Plan is a non-linked non-participating individual pure risk premium life insurance plan; upon policyholder's selection of Premium Back variant, this product shall be a non-linked non-participating individual life insurance savings plan

Max Life Online Term Plan Plus (UIN 104N092V01 / UIN 104N092V02 / UIN 104N092V03/ UIN 104N092V04)

A Non-Linked Non-Participating Individual Pure Risk Premium Life Insurance Plan ^On payment of additional premium

Max Life Smart Wealth Plan is a Non-Linked Non-Participating Individual Life Insurance Savings Plan (UIN 104N116V06)

Max Life Assured Wealth Plan is a Non-Linked Non-Participating Individual Life Insurance Savings Plan (UIN 104N096V04)

*^Total premiums paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or levies and modal extra. Return of premium option is available on payment of additional premium.

~The percentage saving computed is purely in terms of premium paid over the term (Difference between Limited and Regular pay) of the policy and does not account for time & other factors that may happen during this period. It is one of the many variants that the product offers and you can opt for it based on your individual needs. The percentage savings is for Online Term Plan Plus- Life Option for 1 Crore life cover for a 28-year-old healthy male for a policy term of 40 years with regular income pay-out option. The total premium will be 3,20,640 (in case of regular pay) and 1,79,520 (in case of 10 pay) excluding taxes.

^^*^^Free look period conditions:

The policyholder has a period of 30 days from the date of receipt of the policy document, to review the terms and conditions of the Policy, where if the policyholder disagrees to any of those terms or conditions, he/she has the option to return the Policy stating the reasons for his objections. The policyholder shall be entitled to a refund of the premiums paid, subject only to deduction of a proportionate risk premium for the period of cover and the expenses incurred by the company on medical examination of the lives insured and stamp duty charges.

^ As per Annual Audited Financials, FY' 20-21

^*Claims for policies completed 3 continuous years. All mandatory documents should be submitted before 3:00 pm on a working day.

Claim amount on all eligible policies 4 is less than Rs. 1 Crore. The claim does not warrant any field verification.

^^ – “Total premiums paid” means the total of all Premiums received, excluding Underwriting Extra Premium, loading of modal premium, Rider Premiums, and applicable taxes, cesses, or levies, if any.

#– Terminal Benefit is the money back which is paid at the end of income pay-out period and amount is equal to “Total premiums paid”1


  • “1.9x Times of Your Investment” means you get 1.9 times of your total premiums paid which includes following two amounts:

  • Sum of all guaranteed income payouts, payable at the end of the period (monthly or annual income frequency as chosen), post completion of the Policy Term, for the pay-out period as per the variant selected by you.

  • Terminal Benefit (only for long term income variant) is the money-back which is paid at the end of the income pay-out period and the amount is equal to “Total premiums paid”1

Mandatory Documents :

· Original policy document

· Original/attested copy of death certificate issued by the local municipal authority

· Death claim application form (Form A)

· NEFT mandate form attested by bank authorities along with a canceled cheque or bank account passbook along with nominee's photo identity proof • Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/viscera report (incase of accidental death)

^ All claims that qualify for InstaClaim™ will be paid within 1 working day from the date of submission of all mandatory documents else Max Life will pay interest at Bank Rate as on the beginning of the financial year in which the claim has been received (6.25 % for p.a. FY’19) for every day of delay beyond one working day. Interest shall be at the bank rate that is prevalent at beginning of the financial year in which the death claim has been received. 5 Criteria applicable only for “Term plans” for Graduate, Indian resident with declared income >= 10 lacs with CIBIL score >= 650 (salaried) and >= 700 (self-employed) with no disclosed medical condition.

4 InstaClaimTM is available for all versions of Max Life Online Term Plan (UIN 104N078V01); Max Life Online Term Plan Plus (UIN 104N092V01 / UIN 104N092V02 / UIN 104N092V03/ UIN 104N092V04) and Max Life Smart Term Plan (UIN: 104N113V01 / 104N113V02).

*^^ To take care of your family's lifestyle, a recurring income benefit, equal to 1% of the Sum Assured, will be paid each month till the end of the policy term.

ARN : ARN/120422/Savings/WSNV

Mandatory Documents :

· Original policy document

· Original/attested copy of death certificate issued by the local municipal authority

· Death claim application form (Form A)

· NEFT mandate form attested by bank authorities along with a canceled cheque or bank account passbook along with nominee's photo identity proof

· Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/viscera report (in case of accidental death)

*Total premium will be charged at the time of the policy issuance (subject to underwriting’s decision).


Insurance is the subject matter of solicitation. For more details on the risk factors, Terms and Conditions, please read the sales and rider prospectus carefully before concluding a sale. Tax benefits are eligible for tax exemption on fulfilling conditions mentioned under Section 10(10D) of the income tax act 1961. Tax exemptions are as per our understanding of law and as per prevailing provisions of income tax at 1961 . Policyholders are advised to consult tax expert for better clarification /interpretation. Please note that all the tax benefits are subject to tax laws at the time of payment of premium or receipt of policy benefits by you. Tax benefits are subject to changes in tax laws. The monthly Income Benefit and Terminal Benefit may be taxable subject to extra premium being loaded at underwriting stage.

*(a) “Protect a smile” initiative is applicable for all term plans i.e.

· Max Life Five Year Renewal & Convertible Term Insurance (Non Participating)- 104N001V01

· Max Life Easy Term Policy- 104N002V01

· Max Life Level Term Policy (Non-Participating/Non-Convertible)- 104N009V01

· Max Life Platinum Protect-104N060V01

· Max Life Platinum Protect II-104N060V02

· Max Life Premium Return Term Plan- 104N069V01

· Max Life Online Term Plan-104N078V01

· Max Life Premium Return Protection Plan- 104N083V01

· Max Life Super Term Plan- 104N086V01

· Max Life Super Term Plan- 104N086V02

· Max Life Super Term Plan- 104N086V03

· Max Life Online Term Plan Plus -104N092V01

· Max Life Online Term Plan Plus- 104N092V02

· Max Life Online Term Plan Plus-104N092V03

· Max Life Smart Term Plan-104N113V01.

(b) 1 year education of an under privileged child will be funded as part of Max Life CSR initiatives.