Term Insurance Calculator
Find out how much life insurance cover you actually need.
Results
Recommended sum assured
₹3.00 Cr
Coverage bands
Minimum
60% income replacement + debt
₹1.74 Cr
~₹290/mo
Recommended
Full income + debt + dependants
₹3.00 Cr
~₹500/mo
Comprehensive
Full cover + emergency + buffer
₹3.36 Cr
~₹560/mo
Income replacement
₹2.40 Cr
Debt cover
₹30.00 L
Dependant cover
₹30.00 L
Emergency buffer
₹12.00 L
Disclaimer: Premium estimates are indicative and based on average rates for a 30-year-old non-smoker. Actual premiums vary by age, health, smoking status, and insurer. Always compare quotes from multiple insurers before purchasing.
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How much term insurance cover do you need?
Term insurance is the simplest and most affordable form of life insurance. It pays a lump sum to your dependants if you pass away during the policy term. The key question is: how much cover is enough? The answer depends on your income, debts, number of dependants, and how many years they would need financial support.
A common rule of thumb is 10-15 times your annual income. However, this calculator uses a more precise approach: it adds up the income your family would need to replace, your outstanding debts that would need to be paid off, and additional cover per dependant for education and contingency needs.
Term insurance premiums are lowest when you are young and healthy. A 30-year-old can get ₹1 crore coverage for as little as ₹700-1,000 per month. Waiting even 5 years can increase premiums by 30-50%. If you have dependants, getting adequate term insurance should be one of your first financial priorities.