Short-term insurance is a relatively inexpensive type of life insurance that allows people to feel themselves more protected in difficult life situations. This type of insurance combines life insurance contracts for up to a year and does not take into account the income from investing the collected premiums. This paper deals with the problem of calculating the insurance premium in the models of short-term life insurance. The problem is solved analytically, and then a computer application is developed, it calculates the insurance premium automatically based on the parameters set by the user. The results are compared, the main criteria for comparison are the speed and accuracy of the calculation. Finally, the conclusion about efficiency of the developed application and its usefulness for employees of insurance companies is made.