How much life cover do you need?
How long would your family's money last?
- Real expenses, loans and goals, not 10x income
- What today's cover can carry
- Year by year
- You have₹1.15 Cr61%
- Gap₹74.32 L39%
How long would your family's money last?
Each line is a pot of money paying the family's yearly expenses, which rise with prices, while the rest keeps earning.
Your inputs
Your taxOptional: old regime saves tax on your premiums
Life premiums count under 80C (₹1.5L with your other 80C) and health premiums under 80D (up to ₹50,000), old regime only.
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What this means
- A ₹75 L term plan closes your ₹74.32 L gap.
Why?
Your family would need ₹1.89 Cr. Your cover and savings add up to ₹1.15 Cr.
- Today's money runs out in 2037, 15 years too early.
Why?
Loans (₹30 L) and goals (₹25 L) are paid first. What's left covers expenses for 10.5 years.
- Your family needs 12.6× your income.
Why?
The usual 10–15× rule would say ₹1.5 Cr–₹2.25 Cr. This estimate uses your real expenses instead.
- ₹1.5 Cr of expenses needs ₹1.34 Cr today.
Why?
Expenses grow 6% a year while the payout earns 7%, so the money needed today is different from the plain total.
Estimate only, not insurance advice. Premiums depend on age, health and insurer.
More details
Need vs have
- Living expenses₹1.34 Cr
- Loans₹30 L
- Goals₹25 L
- Existing cover₹1 Cr
- Savings₹15 L
- Gap₹74.32 L
- Needed₹1.89 Cr
Compared with the usual rule of thumb
Tax breaks on your premiums, a year
- Section 80C life cover, ₹1.5L cap with your other 80C₹0 deducted · saves ₹0
- Section 80D health cover, ₹50,000 cap₹0 deducted · saves ₹0
New regime: no deduction for premiums. Switch to Old to see the saving.
How it's calculated
Need = present value of future living expenses + outstanding loans + future goals.
PV = E × [1 − ((1 + g) ÷ (1 + r))n] ÷ (r − g) × (1 + r)
E is this year's expenses, g is inflation, r is what the payout earns, and n is the years of support. Gap = Need − (existing cover + savings).
Tax figures follow Budget 2025 rules, for FY 2025-26 onward.