Protection & tax
Life Insurance Need Calculator
Find out how much life cover your family would need to keep living the same life, repay loans and meet future goals if you were not there.
How this calculator works
The calculator adds up three needs: the present value of your family's expenses until your retirement age (rising with inflation), your outstanding loans, and future goals such as children's education. It then subtracts your savings and existing cover.
Things to keep in mind
- Term insurance gives the highest cover for the lowest premium. Keep insurance and investment separate.
- Buy cover till your retirement age or until your children are independent.
- Review cover after marriage, a child's birth or a new home loan.
FAQs
Is 10 times my income enough?
It is a quick thumb rule. The need-based method here is more accurate because it counts loans and goals.
Does my employer's group cover count?
Only partly. It usually ends when you leave the job, so do not rely on it alone.
Get this plan reviewed by an expert
Share your numbers with us on WhatsApp or book a free call. We will turn them into a plan you can act on.