Term Insurance Calculator
Find the right life cover using Human Life Value, need-based and income-multiple methods — we recommend the highest.
Home + car + personal + credit
Sum of all current term policies
Recommended life cover
₹3.24 Cr
₹3,23,95,087
Additional cover needed
₹3.24 Cr
On top of ₹0
Method comparison
We recommend the highest of the three numbers. A SEBI-registered advisor can fine-tune the cover by including riders (critical illness, accidental death, waiver of premium).
How this is calculated
Three lenses, take the highest:
- HLV (Human Life Value): present value of your future earnings till retirement, discounted at the real return rate.
- Need-based: outstanding loans + future child goals (education, marriage) + one year of family expenses.
- Income multiple: 10–15× your annual income, sliding by age.
Pure term plans are the cheapest form of life cover. They pay only on death, so premiums are low. Consider a 30+ year term up to age 65–70.
Want to actually invest this plan?
Talk to a SEBI / AMFI-registered advisor — zero fees from your side.
Frequently asked questions
How much term insurance cover do I need?
A common guideline is 10–15× your annual income, plus outstanding loans and future goals (children's education, etc.), minus existing savings. The Human Life Value method used here estimates the cover needed to replace your economic contribution to the family.
What is Human Life Value (HLV)?
HLV is the present value of your future income that your family would lose if you were no longer around. It factors your income, years to retirement, and existing liabilities to arrive at an adequate sum assured.
Is term insurance better than other life insurance?
Term insurance is pure protection — the lowest premium for the highest cover — with no investment component. For most families it is the most cost-effective way to be adequately insured; keep investments separate in mutual funds.