Term Life Cover
Free · Live calculation · Your data stays in your browser
About You
Find the right cover for your family
Younger = lower premiums (lock for life)
Spouse, children, parents
Home loan, car loan, personal loan
Sum assured of current policies
Recommended Term Cover
₹2,24,00,000
17x your annual income + outstanding debts
Annual Premium
₹1,456
Per Month
₹121
Per Day
₹4
How We Calculated This
Human Life Value (HLV) approach
Total Cost Over Term
Coverage till age 65 (35 years from now)
Total Premium Paid
₹50,960
over 35 years
Family Protected For
₹2,24,00,000
peace of mind
Insight
For just ₹4/day (less than a coffee), you can secure your family with a ₹2,24,00,000 cover.
Pro Tip
- •Buy term insurance early - premiums lock at the age you buy.
- •Always disclose health conditions truthfully to avoid claim rejection.
- •Choose coverage till age 60-65, not lifelong term plans.
- •Premium qualifies for Section 80C deduction (max ₹1.5L total).
What is Term Life Cover?
Term Life Insurance is the simplest and cheapest form of life insurance. You pay a small annual premium and get a large coverage amount that's paid to your family if you die during the policy term. There's no maturity benefit - if you survive the term, no money is returned. The key is high coverage at low cost. Recommended cover is 10-25x your annual income.
How to Use
- 1Enter your current age (younger = lower premium)
- 2Enter your annual income (CTC)
- 3Enter number of dependents
- 4Add outstanding debts (loans)
- 5Add existing insurance cover
- 6See recommended cover and estimated premium
Formula
Cover Needed = (Annual Income × Multiplier) + Outstanding Debts − Existing Cover
Multiplier varies by age: 20x (under 30), 15x (30-40), 12x (40-50), 8x (50+)Frequently Asked Questions
10-25 times your annual income, depending on age and dependents. A 30-year-old earning ₹12L should have ₹1.5-2 Cr cover. Add outstanding loans on top. Use the Human Life Value (HLV) approach.