Term Insurance Calculator

↻ Updated FY 2026-27

Estimate how much term life cover your family would need — replacing your income, clearing loans and funding goals, less what's already covered. An indicative figure to guide your quote.

Educational calculators — always consult a licensed professional before making financial decisions.

Your inputs

Annual income

Years to cover (till retirement)

Outstanding loans

One-time goals (kids, education, etc.)

Existing life cover

Existing assets / savings

Recommended sum assured

₹2,50,00,000

≈ 15× income + loans + goals

Income to replace

₹1,80,00,000

15× annual income

Covered by existing

₹20,00,000

cover + assets

What the cover is made of

Income replacement₹1,80,00,000

Loans₹30,00,000

Goals₹50,00,000

How the number is built

Income replacement (15×)₹1,80,00,000

Add: outstanding loans₹30,00,000

Add: one-time goals₹50,00,000

Less: existing cover− ₹0

Less: existing assets− ₹20,00,000

Recommended sum assured₹2,50,00,000

ASSUMPTIONS — This is an indicative figure using a Human Life Value thumb-rule (roughly 10–15× income, here scaled by your years to cover) plus loans and goals, less what's already covered. Insurance needs are personal — get a quote and, if needed, advice before buying a policy.

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Rates, brackets and limits here are checked against primary sources. If a number still looks off, email support@realmoneyiq.com and we'll review and fix it.

RealMoneyIQ provides free educational calculators, not financial, tax, investment or legal advice. Results are estimates based on the assumptions you enter and publicly published rates; your actual outcome will differ. Always confirm decisions with a licensed professional who knows your full situation.