Term insurance calculator. How much cover is enough?
Six answers, one figure: the life cover that would keep your family's plans on track if your income stopped.
How much term insurance do I need?
A common rule is 10–15 times your yearly income, plus your loans and your children's education, less what you have saved. The calculator above works it out for your age.
Why does the multiple fall as I get older?
Fewer working years are left to replace. We use 15× under 35, 12× under 45, 10× under 55 and 7× after that.
Until what age should the cover run?
Usually until you retire, around 60, when the loans are paid off and the children are on their own. We never suggest less than 5 years.
Does my company's life cover count?
Only while you work there, so we leave it out. Add personal policies to “savings & cover you have”.
Is there tax or GST on a term plan?
No GST on individual term premiums since 22 September 2025. Under the old tax regime premiums count towards section 80C (₹1.5 lakh a year), and the payout to your family is tax-free under section 10(10D).