Result
Recommended term cover
₹29,000,000
- Income replacement (higher of two)25 years of income (or expenses if higher)₹24,000,000
- + Outstanding loans₹3,000,000
- + Future goals corpus₹2,000,000
- − Existing cover₹0
- Estimated annual premiumBallpark for a healthy non-smoker. Actual varies by insurer and health.₹145,000
- Premium as % of incomeRule of thumb: term insurance should cost <3% of annual income15.10%
How to use this calculator
- Enter your current age.
- Enter monthly net income + family monthly expenses.
- Enter total outstanding loans and future goal amounts.
- Enter any existing life insurance cover.
- Read recommended cover + estimated annual premium.
About this tool
Term insurance is pure life cover — pays a lump sum to your family if you die during the policy term. No investment component, no maturity value, just protection at the lowest possible premium. This calculator uses the industry-standard Human Life Value approach: replace 10-25 years of income (depending on age) + clear outstanding loans + fund future goals − existing coverage. Rule of thumb: total cover = 15-20× your annual income. Premium for a healthy 30-year-old non-smoker is roughly ₹500/year per ₹1 lakh of cover; scales up significantly after age 40.
Frequently asked
Industry rule: 15-20× annual income. So ₹10L annual income → ₹1.5-2 crore cover. If you have young kids and high loans, aim higher (25×). If nearing 55 with no dependents, less. Always exceed your total liabilities + future family expenses.
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