How much term insurance do you actually need?
Tell us about your life
Take-home, after tax
Rent, groceries, EMIs, school fees, lifestyle. Be realistic.
Home, car, personal, education
FDs, savings, MFs, equity
Kids' education, big-ticket goals
Term plan or employer cover
How long would your family need financial support? Defaults to economic life 65 minus the younger of your and your spouse's age.
Assumptions — advanced, edit if needed
You need
in term life cover to fully protect your family
How we calculate the cover you need
1. PV of recurring expenses
We discount future household expenses by inflation (6%) over your dependency period. This gives the lump-sum needed today to cover those expenses if your income disappears tomorrow.
2. Add liabilities and goals
Outstanding loans (home, car, personal) and committed future goals (education, renovation) are added on top. These don't disappear when you do.
3. Subtract assets and cover
Liquid assets your family can immediately use (FDs, MFs, savings) and any term cover you already have are subtracted. The remainder is what you need.