How much term insurance does your family really need?
Calculate your estimated life insurance requirement and discover your protection gap, based on your income, family and financial responsibilities.
Having life insurance and having enough life insurance are two different things.
A working parent may already have ₹50 lakh of cover, but still carry a home loan, household expenses and future family responsibilities. Instead of guessing ₹50 lakh, ₹1 crore or ₹2 crore, calculate the protection need from the responsibilities your income supports.
How we arrived at your number
We check your family from two different angles and use the higher estimated gap. We never add both methods together.
How much money would keep flowing if your income stopped?
Your income is like a tank that supplies money every month for food, school fees, bills, healthcare, loans and family goals. This calculator asks: how large would a financial tank need to be today to keep supporting those responsibilities for the years your family may need them?
Then we subtract the life cover and liquid savings you already have. What remains is your estimated protection gap.
Method 1: Replace the income your family depends on
+ outstanding loans
− liquid assets
− existing cover
= protection gap
How this is calculated
Method 2: Keep essential family expenses running
+ education corpus
+ marriage corpus
+ outstanding loans
− liquid assets
− existing cover
= protection gap
How this is calculated
View / edit calculation assumptions
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A rough income-multiple cross-check. Not a recommendation.
What does your protection gap represent?
Household continuity
Ongoing living requirements that depend on the earning member's income.
Loans
Outstanding financial obligations entered in the calculator.
Future goals
Education and marriage goals are included only in the expense-replacement method.
Existing resources
Existing life cover and liquid assets reduce the estimated uncovered need.
What is Human Life Value?
Human Life Value is an estimate of the economic value of the future income an earning person may contribute to their family. In this calculator, the income-replacement method estimates the present value of future net income, then adjusts for loans, liquid assets and existing life cover.
Is 10× your annual income enough?
Not necessarily. Two people earning the same salary can have very different loans, dependents, household costs, existing assets and future responsibilities. An income multiple can be a quick cross-check; it is not a substitute for a needs analysis.
What is underinsurance?
Underinsurance simply means the life cover available is lower than the financial requirement estimated from the assumptions you entered. The calculator shows the difference as your estimated protection gap without using fear-based claims.
What is term insurance?
Term insurance is a form of life insurance designed primarily to provide life cover for a defined policy term. When considering protection, adequacy of cover, policy term, disclosures, exclusions, underwriting and service can matter alongside premium. This page does not recommend or compare any insurer or product.
Understand term insurance before comparing premiums
Your protection amount should come first. Once you understand the need, learn the common buying mistakes and how term insurance works before comparing a premium.
Get your personalised Family Protection Report
Your result stays free on screen. Enter your name and mobile number only if you want a PDF copy for future reference and the option to discuss your protection gap with Ali Asgar.
About Ali Asgar
I help individuals and families understand their financial protection needs before discussing any product. My approach is to first identify the need, existing protection and financial gap, and then discuss suitable next steps.
Frequently asked questions
How much term insurance do I need?
Your requirement depends on income, household expenses, dependents, loans, future responsibilities, existing liquid assets and existing life cover. This calculator uses two independent methods and takes the higher estimated gap.
What is a protection gap?
It is the estimated difference between the protection need calculated from your inputs and the resources already available through liquid assets and existing life cover.
What is income replacement?
Income replacement asks a simple question: how much money may be needed today to replace the part of your future income that supports your family? The estimate depends on the assumptions you enter.
Should employer life cover be included?
The calculator allows you to include applicable employer cover in existing life cover. Because employment benefits can change, review the figure when your job or benefits change.
What policy term should I choose?
This page calculates financial need rather than recommending a product or policy term. A separate product discussion should consider how long financial dependents and obligations are expected to remain.
Don't guess your family's protection number.
Calculate it from your actual income, expenses, responsibilities and existing protection.
Methodology & disclaimer
This is an indicative estimate for educational purposes. It is not a recommendation to buy any specific product. All rates shown are assumptions or planning conventions and are editable. No insurer or product is recommended or compared on this page.
Calculation engine v1.2 · Production UI V1.8 · Last updated: October 2026