Add up the needs your family would have to fund and the resources already available, to see an illustrative cover gap.
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Calculated from your inputs
Illustrative cover gap
Total entered funding need
Available assets and existing cover
Undiscounted future expenses
How this is calculated
Undiscounted expenses over the chosen funding period plus liabilities and goals, less available assets and existing cover. No inflation or investment return is assumed. This does not recommend a policy or establish suitable cover.
Defaults are editable examples, not current provider quotes. Results are rounded for display. These are scenarios from your inputs, not live market data or investment advice.
About the Term Insurance calculator
Term insurance pays a sum to your nominees if you die during the policy term. This calculator adds the needs you enter, such as years of household expenses, loans and goals, and subtracts assets and existing cover to show the gap.
It does not recommend a policy or decide how much cover you need.
How the Term Insurance calculator works
Gap = (Annual expenses × years + Liabilities + Goals) − (Assets + Existing cover)
Expenses are added without inflation or investment returns, so the figure is a simple starting point.
Worked example
Example inputs
Annual expenses
₹6,00,000
Expense funding years
20
Outstanding liabilities
₹20,00,000
Other funding goals
₹10,00,000
Assets available for this need
₹15,00,000
Existing life cover
₹10,00,000
Calculated result
Illustrative cover gap
₹1,25,00,000
Total entered funding need
₹1,50,00,000
Available assets and existing cover
₹25,00,000
Undiscounted future expenses
₹1,20,00,000
Why use a Term Insurance calculator?
Put the family’s needs into one figure.
See how loans and goals add to the need.
Check how existing cover and savings reduce the gap.
Term Insurance calculator FAQs
What is term insurance?
Pure life cover for a set term. It pays only if the insured person dies during the term, which is why its premium is lower than savings-linked policies.
Are there rules of thumb for cover?
Some planners use a multiple of yearly income. This calculator instead adds up the needs you enter, which you can compare with any rule you use.
Should inflation be included?
The calculator does not inflate expenses. Increase the yearly expenses if you want to allow for it.
Does the calculator compare insurers?
No. Premiums and terms come from insurers and depend on your age, health and habits.