If you weren’t here, what would they need?Term insurance calculator: how much cover your family may need.

How to use the term insurance calculator

1. Enter your yearly income and how many years your family would need that support, from 5 to 30.
2. Add loans still to be repaid and future goals, like your children’s education or marriage.
3. Enter the life cover you already have and your savings and investments. These are subtracted to give your suggested cover.

How to read your result

For example: an income of ₹6 lakh a year for 15 years is ₹90 lakh. Add ₹10 lakh of loans and ₹15 lakh for goals, and the need is ₹1.15 crore. Take away ₹10 lakh of existing cover and ₹5 lakh of savings, and the suggested cover is ₹1 crore.

This is a simple starting point, not a final number. It uses today’s values, so enter goals at their future cost; the goal planner can help. Savings in mutual funds are market-linked, so their value can change. A fuller needs review with our team looks at all of this.

Term insurance is pure life cover: it pays only if something happens to you during the policy term, so it gives a large cover for a lower premium than savings plans. Read how much term cover you need, or see our term life insurance page.

How the term cover calculator works

It adds up what your family would need, then subtracts what’s already in place. Income × years replaces your earnings. Loans and goals are one-time needs. Existing cover and savings reduce the gap.

Suggested cover = annual income × years of support + loans + future goals − existing life cover − savings and investments