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Insurance · Calculator
The standard "10× your income" rule is a starting point. The real answer depends on liabilities you'd leave behind, future obligations (child education, spouse retirement), and what you already have.
Recommended term cover
Buy a level term plan of this amount until age 80. Premium for a 30-year-old non-smoker: typically ₹15-25K/year.
Income replacement
₹2.25 Cr
15 years × ₹15.0L
Total raw need
₹3.20 Cr
Income + loans + future obligations
Already covered
₹5.0 L
Existing cover + liquid assets
Net cover needed
₹3.15 Cr
Rounded up to nearest ₹25L
Required cover = Income replacement
+ Outstanding loans
+ Child education future-cost
+ Spouse retirement corpus
− Existing term cover
− Liquid assets
Where:
Income replacement = max(10 × annual income, years-of-support × annual income)