← All calculators/Safety and retirement
Term cover you need.
Not a multiple of your salary pulled out of the air. Years of expenses for the people who depend on you, plus what you owe, less what already exists.
₹
yrs
Until the youngest dependant can earn, or your partner reaches retirement.
₹
₹
₹
₹
Cover you are short by
₹1.31 Cr
Term cover is the cheap kind. It pays only if you die, which is why ₹1.31 Cr of it costs so little.
- Replacing income
- ₹96,00,000
- Total needed
- ₹1,36,00,000
- Already covered
- ₹5,00,000
- The gap
- ₹1,31,00,000
How it adds up
- Spending for 20 years₹96,00,000
- plusLoans outstanding₹20,00,000
- plusBig things still to pay for₹20,00,000
- equalsWhat your family would need₹1,36,00,000
- minusSavings and cover you have₹5,00,000
- equalsCover you are short by₹1,31,00,000
What this assumes
Income replacement, in today's rupees. Assumes your dependants keep spending roughly what the household spends now. If you have nobody depending on your income, the answer is usually nothing.
Rules and rates from
- A planning rule of thumb, not an official rule
Education only, not investment, tax or legal advice. I am not a SEBI-registered investment adviser.
Spotted a mistake? Tell me →