Life Insurance Calculator

Calculate your ideal life insurance coverage using proven financial methods

📋 How Life Insurance Coverage is Calculated

✅ Income Multiple Method (Simple)
10–15× your annual income
If you earn ₹15 lakhs per year → ideal cover = ₹1.5–2.25 crore
This ensures your family's lifestyle is maintained.
✅ Human Life Value (HLV) Method (Precise)
Cover = Future income (till retirement) + Liabilities – Existing assets
Considers inflation, income growth, and family's actual expenses.
🔢 Factors to Consider
  • Dependents' needs – spouse, kids, parents
  • Loans & liabilities – home loan, car loan
  • Children's education & marriage costs
  • Retirement corpus for spouse
  • Existing assets & insurance coverage
💡 Example: Age 35, earning ₹20L/year, retirement at 60
Future income (25 years × ₹20L, adjusted for inflation) ≈ ₹3.5–4 Cr
+ Home loan: ₹50L + Child expenses: ₹40L – Savings: ₹40L
👉 Recommended cover = ~₹4–4.5 Cr

Personal Details

Enter your total annual income from all sources
Your family's total yearly living expenses

Financial Position

PPF, EPF, mutual funds, FDs, etc.
Home loan, car loan, personal loan, etc.
Children's education, marriage, etc. in today's value (will be inflation-adjusted automatically)
Current life insurance coverage amount

Assumptions

Expected annual income increase
Expected annual inflation

Calculating your insurance needs...