Rupeemeter

Term insurance cover calculator

Estimate how much life cover would protect your family, from your income, loans, goals and the cover you already have.

Updated for FY 2026-27 (tax year 2026-27) ·

Children’s education, marriage, a home.

Assumptions (change these)

A rule of thumb, not a rule.

Estimated life cover needed (human life value)

₹1.82 crore

An estimate from your assumptions, not a quote or advice on any policy.

Human life value method

10× income method

Income your family would lose over 30 years (today’s value)₹1,81,54,033
Plus loans and goals₹0
Less existing cover and savings−₹0
Cover needed₹1,81,54,033

What is term insurance cover?

Term insurance pays a fixed sum to your family if you die during the policy term. The sum assured, or cover, should replace what your family would lose.

How to use this calculator

  1. Enter your income, age and retirement age.
  2. Add loans you owe and goals you want funded.
  3. Subtract cover you already have and savings your family could use.
  4. Open “Assumptions” to set the income multiple, your own spending, income growth and the return on the payout.

How the estimate works

Human life value = Σ income × (1 + g)y × (1 − own share) ÷ (1 + d)y+1
Cover = HLV + loans + goals − existing cover − savings

Worked example

Age 30, ₹12 lakh income, retiring at 60, ₹30 lakh of loans, ₹20 lakh of goals, ₹10 lakh existing cover and ₹5 lakh savings, with the default assumptions: about ₹2.17 crore by human life value, or ₹1.55 crore at 10× income.

Assumptions

  • All assumptions are yours to change; the defaults are starting points, not facts.
  • This is an estimate, not a quote, and not advice on any product.

Frequently asked questions

How much term insurance do I need?

Enough to replace the income your family would lose, pay off your loans and fund big goals, minus cover and savings you already have. This calculator estimates that two ways.

What is the human life value method?

It adds up the income you would have given your family until retirement, after your own expenses, and converts it to today’s value using a return the payout could earn.

What is the income multiple method?

A rule of thumb: a multiple of your annual income, adjusted for loans, goals, existing cover and savings. You choose the multiple.

Does this recommend a policy or show premiums?

No. It estimates a cover amount only. We do not recommend insurers or policies or show premium quotes.