Insurance calculator
Term Insurance Calculator
Work out how much life cover your family may need if you were no longer there to provide for them, with an indicative range for the annual premium.
What your family spends today, not your income.
E.g. until your youngest child is independent or your spouse retires.
Home, car, personal or guaranteed business loans.
E.g. children's education, in today's rupees.
Exclude employer group cover. It usually ends when you change jobs.
A cautious assumption for money the family keeps invested.
Indicative life cover
₹1.95 crore
Consider a policy term that runs until around age 60, when your family's need for support is expected to end.
Indicative annual premium
₹19,500 – ₹30,000
About ₹1,630 – ₹2,500 a month, for ₹1.95 crore of cover until age 60.
This is an approximation, not a quote. Your actual premium will depend on your medical history and test results, height and weight, lifestyle, occupation, income, the insurer you choose, riders and policy features, and could be higher or lower than this range. The insurer may also limit the cover offered or decline the application.
- Already in place
- Gap to cover
- Living expenses for the support period
- ₹1.61 crore
- Loans and goals
- ₹85 lakh
- Less: cover & investments in place
- − ₹55 lakh
How this is calculated
Your family’s annual expenses are assumed to rise with inflation for the years of support you entered, and to be paid from a lump sum that earns the return you entered. We add your loans and goals, subtract existing personal life cover and investments, and round up to the nearest ₹5 lakh. The premium range is based on typical published online rates for healthy applicants, adjusted for age, policy term, gender and tobacco use; it does not reflect any specific insurer or your health. Read the full method.
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How to use the term insurance calculator
- 1
Enter your age, gender and whether you use tobacco.
- 2
Enter your family's monthly expenses, the years they would need support, your loans and the goals you want to protect.
- 3
Enter existing personal life cover and investments to see the indicative cover and premium range.
How the term insurance calculator works
The calculator adds up three things: the money your family would need to cover living expenses for the years they need support (rising with inflation), your outstanding loans, and the goals you want protected. It then subtracts existing personal life cover and investments your family could use, and rounds up to the nearest ₹5 lakh.
The premium range is based on typical published online rates for healthy applicants in India, adjusted for age, policy term, gender and tobacco use. It is an approximation, not a quote.
Why not just use 10 or 15 times income?
Income multiples are easy to remember, but they ignore your loans, goals and existing savings. Two people with the same income can need very different amounts of cover.
Frequently asked questions
Is the premium shown what I will pay?
No. It is an approximate range. Your actual premium depends on your medical history and test results, lifestyle, occupation, income, the insurer and plan you choose, and riders. The insurer decides the final premium and whether to offer cover.
Should I count my employer's life cover?
It is usually safer not to. Employer group cover generally ends when you leave the job, so it may not be there when your family needs it.
How long should my term insurance last?
Typically until your financial responsibilities end, such as when your children are independent and major loans are repaid. The calculator suggests an age based on the years of support you enter.
Is GST charged on term insurance premiums?
Individual life insurance premiums, including term plans, have been exempt from GST since 22 September 2025.
Want to talk through your numbers?
A calculator gives you a starting point. We can help you understand what it means for your situation, with no obligation.
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