Term Insurance Cover Calculator 2025
Find out how much term insurance cover you actually need. This calculator estimates the right life cover by considering your income, liabilities, savings, and future goals.
Income Replacement: ₹0
Liabilities + Goals: ₹0
Less: Savings: ₹0
Recommended Cover: ₹0
Why Use a Term Insurance Cover Calculator?
Choosing the right term insurance cover is critical for ensuring your family’s financial protection. If the coverage is too low, it may not meet your family’s needs; if it’s too high, you may end up paying unnecessary premiums. Our calculator simplifies this process by factoring in income replacement, liabilities, and future goals.
Benefits of Estimating Your Coverage
- Ensures your family’s lifestyle is maintained even in your absence.
- Helps in repaying outstanding debts like home or car loans.
- Provides for children’s education and long-term goals.
- Peace of mind knowing your loved ones are financially secure.
How Much Term Insurance Cover Do You Need?
Financial planners often suggest coverage of 10–15 times your annual income, plus any liabilities and major future expenses such as education or marriage costs. Our tool provides a quick estimate to guide you in choosing the right sum assured.
Plan Smarter With Riders
You can enhance your basic plan with riders such as critical illness, accidental death, or waiver of premium riders. These add-ons provide extra layers of protection tailored to your family’s needs.
Resources
For more details on term insurance regulations, visit the official IRDAI website. You may also compare top term insurance plans in India to find the best fit.
Frequently Asked Questions (FAQ)
Q1: How much term insurance cover should I take?
A: Ideally, 10–15 times your annual income plus outstanding loans and future financial goals.
Q2: Does this calculator show the premium?
A: No, it only estimates the coverage amount. Premiums vary by age, health, and insurer.
Q3: Can I increase my cover later?
A: Yes, many insurers allow you to increase cover through riders or additional plans.