Term Insurance Calculator

Enough to clear outstanding debt, fund committed goals and replace your income for as long as dependants rely on it, minus what you have already saved. Rules of thumb like ten times income are a starting point, not an answer.

For pure protection, yes. Term plans buy the largest cover per rupee of premium because nothing is diverted into investment. Mixing insurance with investment generally delivers weaker cover and weaker returns than buying each separately.

Usually until your dependants are financially independent and major loans are cleared, which for most people means retirement age. Cover beyond that point is rarely needed and premiums rise steeply with age.

Under the old regime, premiums qualify under Section 80C and the death benefit is generally exempt under Section 10(10D). The premium deduction is unavailable under the new regime, though the death benefit exemption still applies.

A pure term plan pays nothing on survival - that is precisely why it costs so little. Return-of-premium variants refund the premiums but charge substantially more, which usually makes buying term and investing the difference more efficient.

Always. Non-disclosure is the most common reason claims are rejected, and a rejected claim leaves your family with nothing at the moment they need the money most. Honest disclosure raises the premium but secures the payout.