Term Cover Calculator
Find out how much life cover your family actually needs — using the Human Life Value method.
Your Details
₹
₹1L₹2Cr
₹
₹1L₹1Cr
₹
₹0₹2Cr
₹
₹0₹2Cr
yrs
540
Results
Recommended Term Cover (indicative)
₹0
Family needs (expenses × years)₹0
+ Outstanding loans₹0
− Existing life cover₹0
10× income rule-of-thumb (reference)₹0
Please read: indicative estimates only
The numbers on this page are indicative estimates for guidance only — not financial or insurance advice. Actual premiums and cover depend on the insurer's underwriting, your health profile and policy terms. Please confirm with the insurer or an IRDAI-registered advisor before deciding.
How it works
Recommended cover = (annual family expenses × years of support) + outstanding loans − existing life cover, floored at zero. This is the Human Life Value approach: it estimates the money your family would need to maintain their lifestyle and clear debts if you were not around. The 10× annual income figure is shown only as a rough cross-check.
What is the Human Life Value method?
Human Life Value estimates the life cover you need as (annual family expenses × years your family needs support) + outstanding loans − existing life cover. It measures the financial gap your family would face.
Should I subtract my existing life cover?
Yes. Existing policies, EPF/employer cover and other life insurance reduce the gap, so the calculator subtracts them to avoid over-insuring.
Is the 10x income rule enough?
The 10× annual income rule is a rough starting point, but it ignores loans and actual expenses. The Human Life Value method above is more personalised.