Term Insurance Calculator
How much cover your family really needs — by the Human Life Value method.
Your situation
Cover runs to age 60.
Years your family should stay protected.
Your household's monthly running cost.
In today's money.
In today's money.
Erodes expenses and grows future goals.
Results update live — calculations run in your browser, no signup.
₹7.87 Cr
About 52.5× your income — to replace 28 years of earnings, clear ₹30.00 L of loans and fund your goals
If something happened today, a ₹7.87 Cr cover protects your family for 28 years — but you're short by ₹7.87 Cr. Existing cover is 0% of the need.
Illustrative estimate, not a quote. Actual premium depends on age, health, smoking status, term and insurer.
Every rupee of the recommended cover comes from replacing income, clearing loans and funding goals — less the cover already in place.
Income replacement
₹15.00 L/yr × 28 yrs, inflation-adjusted
Outstanding loans
cleared in full
Children's education
₹30.00 L today → future cost
Marriage / other goals
₹20.00 L today → future cost
Existing life cover
already in place
Total cover to buy
HLV ₹7.87 Cr − cover ₹0
₹7.87 Cr
Income replacement
The present-value cost of replacing 28 years of your income, adjusted for rising living costs.
Anchored to the larger of your income and 12× monthly expenses, so the lifestyle is protected even if stated income is low. Illustrative.
Loan protection
Cover should clear every outstanding debt so your family inherits assets, not liabilities.
the biggest liability for most families₹21.00 L
typically a smaller balance₹6.00 L
credit, consumer & top-up loans₹3.00 L
Split shown is an illustrative breakdown of your total outstanding loans — edit the loans figure to update it.
Children's education goal
A goal entered in today's money costs far more when it falls due — cover must fund the future figure.
Cost today
₹30.00 L
Cost in 14 yrs
₹67.83 L
At 6.0% inflation, your ₹30.00 L education goal grows to about ₹67.83 L by the time it's needed — roughly 2.26× today's cost.
A transparent 0–100 blend of five sub-scores — how well your existing cover meets each part of the need. Not a product endorsement.
Existing cover is 0% of the ₹7.87 Cr you need
Cover adequacy
existing cover vs total need
Loan coverage
debts your cover would clear
Income replacement
years of income covered
Education funding
children's goal funded
Inflation protection
keeps pace with rising costs
Required cover (HLV)
₹7.87 Cr 52.5×
Existing cover
₹0 0.0×
Your insurance gap
₹7.87 Cr
How long different cover amounts would replace your income, and the indicative monthly premium at your age. The tier nearest your recommended cover is highlighted.
| Cover | Years of income protected | Indicative premium |
|---|---|---|
| ₹1.00 Cr | 7 yrs | ₹417/mo |
| ₹2.00 Cr | 13 yrs | ₹833/mo |
| ₹3.00 CrRecommended | 20 yrs | ₹1,250/mo |
Premiums are illustrative — lowest when you're young and healthy. Years protected = cover ÷ ₹15.00 L replaceable income. Indicative only, not a quote.
Monthly premium estimate
Indicative cost of your recommended ₹7.87 Cr cover at age 32.
₹1.00 Cr
₹417
/month
₹2.00 Cr
₹833
/month
₹3.00 Cr
₹1,250
/month
Your ₹7.87 Cr cover is an indicative ₹3,279/month — about 2.6% of your income. Premiums are lowest when bought young and healthy. Illustrative, not a quote.
If you delay, it costs more
The same ₹7.87 Cr cover bought today vs after a 5-year wait at age 37.
Buy today (age 32)
₹3,279/mo
₹11.02 L over 28 yrs
Wait 5 yrs (age 37)
₹4,099/mo
₹11.31 L over 23 yrs
Extra premium from waiting
+₹2.26 L
Higher age means a higher rate per ₹1,000 of cover. Illustrative — actual rates depend on health and insurer.
- Your family needs about ₹7.87 Cr of cover — 52.5× your income.
- You're short by ₹7.87 Cr; closing it costs an indicative ₹3,279/month.
- Wait 5 years and the same cover costs about ₹2.26 L more over its life.
Inflation impact on expenses
Today's ₹7.20 L/yr household cost, grown at 6.0% across the protection term.
In 28 years your living cost rises from ₹7.20 L to about ₹36.80 L a year — which is why a flat payout erodes and the cover must front-load the future need.
Income replaced
₹6.44 Cr
28 years of ₹15.00 L/yr keeps the household running.
Loans cleared
₹30.00 L
No inherited debt — the family keeps the home and assets.
Goals funded
₹1.13 Cr
Children's education and marriage stay on track.
Protected until
28 yrs
Cover runs the full term to age 60.
What this means
To replace 28 years of your ₹15.00 L income, clear ₹30.00 L of loans and fund ₹1.13 Cr of goals, your family needs about ₹7.87 Cr of cover. With ₹0 already in place, aim for a term plan of about ₹7.87 Cr — an indicative ₹3,279/month. Your protection score is 0/100.
Key takeaways
- Recommended cover to buy: ₹7.87 Cr
- Total human life value: ₹7.87 Cr (52.5× income)
- Insurance gap: ₹7.87 Cr
- Protection score: 0/100 (Underinsured)
- Indicative premium: ₹3,279/month
Protect your family with term life cover
Compare and buy a term insurance plan from Axis Max Life online. Axis Max Life Insurance, at no extra cost to you.
Your family needs about ₹7.87 Cr of term cover — an indicative ₹3,279/month.
Plan the rest of your money life
Value your future earnings, cover medical bills, build a corpus, or invest the difference.
Every figure here is an illustrative estimate, not a quote. The Human Life Value method adds inflation-adjusted income replacement, outstanding loans and future goals, then subtracts existing cover. Premiums use a rough age-banded rate per ₹1,000 of sum assured for a healthy non-smoker — your actual premium depends on age, health, smoking status, term and insurer. The protection score rates your own inputs against the recommended figure; it is not a product endorsement. Buy pure term insurance, not investment-linked plans, for cover.
How the recommended cover is calculated
Cover = Income replacement + Loans + Future goals − Existing cover
- Income replacement
- replaceable income × inflation-adjusted years
- Loans
- all outstanding debts, cleared in full
- Future goals
- education + marriage, grown to when they fall due
- Existing cover
- life cover already in place
Worked example
With your inputs — replacing ₹15.00 L/yr for 28 years (an inflation uplift factor of 42.9×) gives ₹6.44 Cr of income replacement; adding ₹30.00 L of loans and ₹1.13 Cr of future goals makes a Human Life Value of about ₹7.87 Cr. Subtracting your ₹0 existing cover points to about ₹7.87 Cr of new term cover — roughly 52.5× your income. Every figure is an illustrative estimate, not a quote.
Term insurance questions
Enough to replace your income for the years your family would depend on it, plus clearing outstanding loans and funding big future goals like children's education and marriage, minus what you've already provided through existing cover. That's the Human Life Value (income-replacement) method this calculator uses — it ties the number to your real obligations rather than a flat multiple.
The 10–15× rule is a quick shortcut, but it ignores your loans, future goals and existing cover. The Human Life Value method is more honest because it accounts for them and adjusts income replacement for inflation — though every figure here is an estimate, so treat the result as a well-reasoned target, not a precise quote.
It is a transparent 0–100 blend of five sub-scores — cover adequacy, loan coverage, income replacement, education funding and inflation protection — measuring how well your existing cover meets the recommended figure derived from your own inputs. It is not an endorsement of any product, just a yardstick for your own numbers.
For pure protection, term insurance wins. It's far cheaper per rupee of cover, so the same premium buys a much larger sum assured. ULIPs bundle investment with insurance and cost more for less cover — keep the two separate and invest the difference yourself.
Yes. Premiums are largely locked to your age and health at purchase, so buying a long-term plan while you're young and healthy keeps the cost low for decades. Waiting almost always means paying more for the same cover — this page shows roughly how much more a five-year delay can cost.
The complete guide to term insurance cover
Why the cover amount matters more than the product
Term insurance is the cheapest, simplest way to protect your family financially. It pays a fixed sum if you die during the policy term and has no maturity value — which is exactly why it's affordable. The hard part isn't choosing a plan, it's getting the cover amount right: too little and your family is exposed, too much and you overpay. The right figure lets them replace your income, clear outstanding loans, and carry on without your earnings.
How the Human Life Value method works
This calculator estimates cover by Human Life Value: it adds the inflation-adjusted income your family would need to replace (your income across the years they'd depend on it), the loans to be cleared, and big future goals like children's education and marriage, then subtracts the cover you already have. For a ₹15.00 L income over 28 years plus ₹30.00 L of loans and ₹1.13 Cr of goals, less ₹0 already in place, that points to about ₹7.87 Cr of new term cover.
Income replacement vs the 10–15× rule
A popular shortcut is to buy 10 to 15 times your annual income. It's quick, but it ignores your loans, future goals and existing cover — so it can leave you over- or under-insured. The Human Life Value method is more honest because it ties the number to your real obligations and adjusts for inflation. Your target here works out to about 52.5× income. Revisit it as your life changes.
What the protection score tells you
The score blends five sub-scores — cover adequacy, loan coverage, income replacement, education funding and inflation protection — into a single 0–100 figure showing how well your existing cover meets the recommended need. It is a yardstick for your numbers, not an endorsement of any insurer or product — the basis is stated openly so you can see exactly why your cover scores the way it does.
Why buying early and keeping plans separate pays off
Premiums are largely fixed to your age and health at purchase, so a long-term plan taken young and healthy stays cheap for decades — waiting even five years can raise the lifetime cost noticeably. For pure protection, buy term insurance and keep investing separate: ULIPs and endowment plans bundle the two and cost far more for far less cover. The indicative premium shown here is illustrative — confirm the exact rate, terms and fees with the insurer before you commit.