A cover figure that
survives being questioned.
Most term policies in India are sized by whatever premium felt comfortable. This is the other way of doing it — from your dependents, your liabilities and the goals you have already promised. Work through the checklist, then run the numbers below.
The arithmetic underneath term insurance is not complicated, and it is worth understanding rather than delegating:
Everything below is that one line, broken into questions you can actually answer. Tick as you go; progress stays in your browser. There is a live estimator further down, and a link to it in the sidebar.
Who depends on your income
Term cover is not for you. Start by naming the people it is actually for.
Income to be replaced
The largest component for most households, and the one most often guessed at.
Goals already promised
Inflate each one to the year it falls due. A cost quoted in today's rupees will understate the requirement badly.
Liabilities that outlive you
Debt does not die with the borrower. It becomes the family's first problem, before grief has finished.
Immediate cash the family needs
The first six months, when the income has stopped and the paperwork has not started.
What already exists, and gets subtracted
Insurance fills the gap between the requirement and what the family already has. Skip this step and you overbuy.
Assumptions, stated openly
Every cover figure rests on assumptions. Writing them down is what makes the answer reviewable later.
Sanity checks before you buy
Run these against whatever figure you have arrived at. If any answer is no, the number is wrong.
Your numbers, the arithmetic
done in front of you.
All amounts in ₹ lakh. Nothing is sent anywhere — the calculation runs entirely in your browser. This is a starting range for a conversation, not a recommendation.