Term Insurance Calculator
A quick way to estimate the term life cover you may need, using your annual income, outstanding loans, future goals, and any existing cover.
Recommended additional term cover
₹2.25 Cr
Approximately ₹2,25,00,000
Breakdown
Illustrative estimate for planning only, not financial advice. Premiums depend on age, health, and the insurer, and are not shown here.
How it's calculated
- 1Start with a cover multiple of your annual income. Younger earners with more working years ahead typically need a higher multiple (15-20x); those closer to retirement need less (10-12x).
- 2Add outstanding loans and liabilities (home loan, car loan, personal loans) so your family is not left repaying them.
- 3Add future financial goals you want protected, such as children's education or a spouse's retirement.
- 4Subtract any life cover you already hold, so you only see the additional cover you may need.
Why use this
- Get a realistic cover figure in seconds instead of guessing.
- See the gap between your existing cover and your family's actual needs.
- Use it as a talking point in client meetings and reviews.
- Download a branded PDF to share the recommendation with a client.
Frequently asked questions
How much term insurance cover do I actually need?+
A common rule of thumb is 10 to 20 times your annual income, adjusted for your age, plus outstanding loans and major future goals, minus any cover you already hold. Younger earners usually need a higher multiple because they have more working years to protect. This calculator applies that method so you get a personalised figure rather than a flat multiple.
Why multiply annual income to decide cover?+
The income-multiple method is a simple, widely used way to size cover so your family can maintain its lifestyle if your income stops. It is quick and easy to explain to clients. For a more precise, economics-based figure that accounts for growth and inflation, use the Human Life Value calculator.
Should I subtract my existing life insurance?+
Yes. The goal is to find the additional cover you need. If you already hold term or other life cover, subtract it so you do not over-insure. This calculator lets you enter existing cover and shows the top-up amount.
Does this calculator show the premium I will pay?+
No. It estimates the cover amount you may need, not the premium. Premiums depend on your age, health, smoking status, policy term, and the insurer. Always get an official quote from the insurer before buying.
Is the result financial advice?+
No. It is an illustrative estimate to support planning conversations. Final decisions should be made with a licensed advisor after considering your full financial situation.
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