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Discover exactly how much Term Life Insurance cover you need to fully secure your family's financial future in your absence.
Number of years your family will need your income replaced.
Required Life Cover Gap
This is the additional Term Life Insurance coverage you should purchase today to fully protect your family.
Total Financial Need
Subtracting Existing Assets
Gross Need minus Existing Assets equals your Coverage Gap.
If you are the primary breadwinner, your family relies on your monthly income to pay for groceries, rent, utilities, and lifestyle. If you pass away, that income stops immediately. An adequate life cover acts as a massive fixed deposit, the interest from which can replace your salary for your family.
Absolutely. Most home loans are meant to be paid over 20 years. If you die in year 3, the bank will force your family to sell the house or pay the EMIs. Your life insurance should pay off the entire outstanding loan instantly so your family always has a roof over their head.
Rarely. Corporate Life Insurance is usually 2x to 3x your annual CTC. If you change jobs, get laid off, or retire, that cover vanishes. It's highly recommended to have your own independent personal Term Life Insurance that covers at least 15-20x your annual income.