Term Insurance Need Calculator
Uses the Human Life Value method — the present value of your dependents' future expenses, plus loans, minus what they already have.
What your family needs each month if you're not around
Till youngest child is 25, or spouse retires — usually 20–30 yrs
Safe portfolio: FD + debt MF, 6–7%
Should be cleared with the payout so family isn't burdened
Compare term plans from this cover amount.
The main NetCorpus India planner rolls this into a 50-year retirement plan alongside your loans, EPF, taxes, trips, and life goals.
Estimates how much term life cover you actually need using the Human Life Value method — replacing your dependents' future expenses and clearing outstanding debts, rather than a rough 'X times your salary' rule of thumb.
The calculator projects your dependents' monthly expenses forward for the number of years they'd depend on your income, inflating them annually, then discounts that stream back to a present value using your assumed discount rate. It adds any outstanding loans (so debt doesn't fall on your family) and subtracts your existing liquid corpus and any existing life cover, since those already reduce the gap a new policy needs to fill.
₹60,000/month household expenses, 25 years of dependency, 7% inflation, a 6% discount rate, ₹40L in outstanding loans, and ₹5L in existing liquid assets produces a required cover figure well into eight figures — a useful corrective against the common (and usually inadequate) '10x annual salary' heuristic.
Why is the Human Life Value method better than '10x salary'?▾
'10x salary' ignores your actual expenses, how long your dependents will need support, inflation over that period, and any existing debt or assets. Two people earning the same salary can need very different cover depending on family size, age of children, and outstanding loans — a flat multiple can't capture that.
Should I buy a term plan or a traditional/ULIP policy?▾
For pure protection, term insurance is dramatically cheaper per rupee of cover than traditional or ULIP policies, because it carries no investment component. The standard advice — buy term for protection, invest separately (SIP/PPF/etc.) for growth — holds up well against the numbers in most cases.