Term Insurance Calculator

Estimate the term insurance coverage you need to secure your family's financial future with detailed projections.

Accurate coverage estimation
Yearly coverage projection
Visual financial planning
Family Security
Financial Details
₹
Enter annual income (₹1,00,000–₹1,00,00,000).
Your current annual income before taxes.
₹
Enter monthly expenses (₹10,000–₹5,00,000).
Your family's monthly living expenses.
₹
Enter liabilities (₹0–₹5,00,00,000).
Total outstanding loans (e.g., home, car, personal).
₹
Enter financial goals (₹0–₹10,00,00,000).
Future goals (e.g., child's education, marriage).
₹
Enter savings/investments (₹0–₹10,00,00,000).
Current savings and investments (excluding insurance).
₹
Enter existing insurance (₹0–₹10,00,00,000).
Current life insurance coverage.
Years
Enter tenure (5–40 years).
Duration for which you need coverage.
%
Enter inflation rate (1–15%).
Expected annual inflation rate (e.g., 6% for India in 2025).

Term Insurance Summary

Coverage Needed
₹0
Income Replacement
₹0
Liabilities & Goals
₹0
Net Savings
₹0
Steps to Secure Your Family
Assess Needs

Evaluate income, expenses, and goals.

Choose Term Plan

Select a plan with adequate coverage.

Review Regularly

Update coverage as life changes.

Note: Projections show coverage needs over the tenure, adjusted for inflation. Download the CSV for details.
Coverage Projection
YearCoverage Needed (₹)Expenses (₹)Goals (₹)

What is Term Insurance?

Term insurance is a type of life insurance that provides coverage for a specific period (term). If the policyholder passes away during the term, the nominee receives the sum assured. It’s a cost-effective way to ensure financial security for your family.

Calculating the right coverage helps protect against income loss, debts, and future expenses.

Did You Know?

A term plan with ₹1 crore coverage can cost as little as ₹500/month for a 30-year-old!

Why Calculate Term Insurance?

Ensure your family’s lifestyle is maintained.

Cover outstanding loans to avoid burdening your family.

Secure funds for your children’s education or marriage.

Frequently Asked Questions

Term insurance ensures your family’s financial stability in case of your untimely demise, covering expenses, debts, and goals.

Coverage should cover 10-15x your annual income, plus liabilities and future goals, minus existing savings and insurance.

Yes, premiums paid for term insurance are eligible for tax deductions under Section 80C of the Income Tax Act, up to ₹1.5 lakh annually.