How much term insurance do you need?
Sized to your family's actual needs, not a multiple of your salary. This is the method independent planners use, which usually lands lower and more honest than insurer calculators. No sign-up, nothing leaves your browser.
Recommended cover
₹1.45 Cr
Rough cost for a healthy non-smoker: about ₹14,500 to ₹21,700 a year for pure term cover. An estimate for context, not a quote.
How this is calculated
Loans are added but their EMIs are not, since clearing the loan stops the EMIs. As your savings grow, the cover you need shrinks.
Want the full picture, including your emergency fund, health cover, and whether you are on track to retire? Run the money health check.
Educational estimate, not financial advice, and not a policy quote. Uses 6% inflation and 7% returns. Buy pure term insurance only, and compare quotes from multiple insurers before deciding.
Why needs-based, not a multiple of income
The popular rule is to buy 10 to 20 times your annual income. The problem is that it keeps rising with your salary even when your family's actual spending does not, so high earners end up sold far more cover than they need. Insurance exists to replace what your dependants would spend, not the salary you happened to earn.
Needs-based analysis, the method independent fee-only planners use, sizes the cover to a real question: if your income stopped tomorrow, how much would your family need to keep their lifestyle, clear debts, and meet big goals like a child's education, after using what you have already saved? That is the number this tool gives you, and it naturally shrinks as your wealth grows.
Common questions
How much term insurance cover do I need?+
Base it on your family's needs, not a multiple of your income. The right cover is roughly the corpus that could fund your household expenses for the years your family needs support (inflation-adjusted, about 18 to 26 times annual expenses depending on the horizon), plus clearing outstanding loans and one-time goals like education or marriage, minus what you have already saved. This caps the number honestly: a high earner with a modest lifestyle needs far less than the '10 to 20 times income' rule suggests.
Why is this lower than what insurer calculators show?+
Most insurer and aggregator calculators use Human Life Value, which is based on replacing your entire future income and grows with every salary raise. It tends to produce the largest possible number, which also means the largest policy to sell. Needs-based analysis, used by independent fee-only planners, sizes the cover to what your family would actually spend, which is usually lower and more honest.
Should I include my home loan in the cover?+
Yes. Add the outstanding principal of all loans, since your family would want to clear them. Do not add the EMIs separately, though, because once the loan principal is repaid the EMIs stop. Counting both would double-count the same debt.
Does term cover need to change as my savings grow?+
Yes, downward. Every rupee you save reduces the gap your insurance needs to fill. As your investments grow toward the total your family would need, the cover required shrinks, and eventually you may be self-insured and not need term cover at all.
What kind of policy should I buy?+
Pure term insurance only. Avoid plans that mix insurance with investment (endowment, ULIPs, money-back), which give you both poor cover and poor returns. Buy plain term cover while you are young and healthy to lock in low premiums, and keep your investing entirely separate.
Is my data private?+
Completely. The calculation runs in your browser. There is no sign-up, and nothing you enter is sent to a server or stored anywhere.