Insurance Calculator

A term insurance calculator is a financial tool designed to help you determine the exact amount of life insurance cover required to protect your family's future. Using it ensures you aren't under-insured, which would leave your family vulnerable, or over-insured, which leads to paying unnecessarily high premiums by estimating expenses and liabilities accurately.

The ideal cover depends on your monthly expenses, outstanding loans, children's education, and inflation. While a common rule is to have cover 15-20 times your annual income, our precision calculator uses an inflation-adjusted model to provide a more realistic estimate of the corpus required to sustain your family's lifestyle.

Yes, our calculator factors in a standard annual inflation rate (usually 5-6%). Since the purchasing power of money decreases over time, a cover that seems sufficient today might not be enough to sustain your family 20 years from now. Calculating with inflation ensures your family is truly protected in the long run.

Absolutely. Your life insurance should account for all outstanding liabilities. In the event of an untimely demise, the insurance payout can be used to settle the home loan or other debts, ensuring your family keeps their assets without any financial burden or risk of repossession.

As you grow older, the risk to the insurer increases, leading to higher premiums. However, the 'Protection Span' — the years until your retirement — decreases. Using a calculator helps you find the optimal balance between a comprehensive cover and affordable premiums based on your current life stage and financial goals.

Human Life Value (HLV) is a method to calculate the financial loss a family would face upon the death of an earner. It considers the person's future income, age, and expenses. Our term insurance calculator uses this fundamental principle to recommend a cover that effectively replaces the income earner's financial contribution.