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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
Extra cover you need
₹75 L
Gap of ₹74.32 L, rounded up to the next ₹25 L
  • 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

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

Your family needs₹1.89 Cr
  • Living expenses₹1.34 Cr
  • Loans₹30 L
  • Goals₹25 L
You have₹1.15 Cr
  • 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.

Common questions

Why not just take 10–15× my income?
It's a quick shortcut, but it ignores your loans, goals and actual spending. Two people with the same income can need very different cover.
Term plan or endowment?
For pure protection, term plans give far more cover per rupee of premium. Keep investing and insurance separate where you can.
Do insurance premiums save tax?
In the old regime, life-cover premiums count under Section 80C (within the shared ₹1.5 lakh limit) and health-cover premiums under Section 80D: up to ₹25,000 for you and your family and ₹25,000 for parents, more if they are senior citizens. The new regime allows neither. Tax should not decide your cover amount.