Income cover
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Term Insurance Calculator
How much life cover do I need?
Find the term insurance cover that would truly protect your family — based on your income, loans and dependents.
Recommended life cover
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+ Loans − savings
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Protect your family today
Compare term insurance plans from IRDAI-registered insurers on RupeeMaster — get your recommended cover at the best premium.
Compare term plans →This is an indicative estimate of cover need based on the details you enter, not a recommendation of a specific policy. Actual cover, premium and eligibility depend on the insurer's underwriting. This is not insurance advice.
📊 How this cover is calculated
A simple, widely-used rule: your life cover should be a multiple of your annual income, plus any debts your family would inherit, minus what you've already set aside.
Cover = (annual income × multiplier) + outstanding loans − existing savings & cover. A 10× multiplier is the ideal minimum; going up to 15× gives your family a stronger cushion against inflation and rising costs. Adding loans and subtracting savings tailors the round-number rule to your actual situation.
How much term insurance cover do you actually need?
A widely-used rule says your life cover should be at least 10 to 15 times your annual income — 10× is the sensible minimum, and 15× gives a stronger cushion. This calculator applies that multiplier to your income and then tailors it to your situation by adding the loans your family would inherit and subtracting the savings and cover you already have, so the round-number rule becomes a figure that fits your real finances.
Why under-insurance is the common mistake
Most people are significantly under-insured because they buy a round-number cover like ₹50 lakh without checking whether it would actually clear their home loan and support their family for 20+ years. A cover that looks large today can fall short once you account for inflation, a growing family and outstanding loans. It's worth calculating the real number.
Term insurance is the most efficient way to get there
Pure term insurance provides a large cover for a very low premium, because it's protection-only with no investment component. That makes it the most cost-effective foundation for your family's financial security — you can secure ₹1 crore or more of cover for a modest monthly premium, especially if you buy young.
How much term insurance cover do I need?
A common guideline is 10 to 15 times your annual income — 10× as the ideal minimum, up to 15× for a stronger cushion. This calculator applies your chosen multiplier, then adds outstanding loans and subtracts existing savings and cover to tailor the figure.
Should I choose the 10× or 15× multiplier?
10× your annual income is the ideal minimum cover. Choose a higher multiplier — up to 15× — if you have young children, a long earning horizon ahead, or want a stronger cushion against inflation and rising family costs.
Is term insurance enough?
Pure term insurance is the most affordable way to secure a large cover, so it should be the foundation of your protection. This calculator gives you a tailored cover amount to compare across insurers.