Term Cover Calculator
How much life cover do I actually need?
You need additional cover of
₹3.21Cr
Your family would need ₹4.21Cr in total. You hold ₹1.00Cr — that is 5× your annual income.
Income replacement
₹3.31Cr
20 years of support
Total need
₹4.21Cr
Existing cover
₹1.00Cr
Cover multiple
5×
10× is a common floor
Your situation
₹20.00L
20 yrs
₹40.00L
₹80.00L
₹30.00L
₹1.00Cr
This is a needs-based calculation, not a rule of thumb. It replaces your income for the years your family needs it, clears what you owe, funds what you promised, and subtracts what you have already built.
What this calculation assumes
- •This is a needs-based calculation, not an income multiple: income replacement plus liabilities plus goals, less existing assets and cover.
- •Income replacement is discounted at the real rate, assuming the payout is invested and drawn down against inflation.
- •An 8% return and 6% inflation are assumed for that discounting.
- •Existing cover from an employer is usually not portable — count it only if you are confident it will still be there.
- •This estimates the cover amount, not the premium, which depends on your age, health and insurer.
Illustrative only. These figures assume constant rates and do not predict actual returns. Markets, taxes and inflation vary. This is educational information, not financial advice — consult a SEBI-registered adviser before making investment decisions.
About this calculator
A needs-based calculation: income replacement plus liabilities plus goals, less what you already have.