What is the Term Insurance Calculator?
Explore a simple protection-gap scenario using annual income, selected replacement years, outstanding debts, future goals, and existing savings and cover. This is arithmetic, not a personalized insurance recommendation.
How does it work?
Income replacement = annual income multiplied by selected years. Modeled requirement = income replacement + debts + goals. The displayed gap is the positive difference after the combined available savings and existing life cover you enter. No discount rate, inflation, premium quote, tax or underwriting model is applied.
Worked example
Rs 12 lakh annual income over 10 years gives Rs 1.2 crore of undiscounted income replacement. Adding Rs 20 lakh of debt and Rs 10 lakh of goals, then subtracting Rs 40 lakh of available savings and cover, gives an illustrative gap of Rs 1.1 crore.
When to use this calculator
- 1Compare replacement durations and financial obligations.
- 2Understand the components of an undiscounted protection-gap illustration.
Common mistakes to avoid
- ✕Counting existing cover twice.
- ✕Including assets that would not be available to dependents.
- ✕Mistaking this calculation for discounted human-life value or an insurer's underwriting decision.
Frequently asked questions
- Is this discounted human-life value?
- No. It uses a simple undiscounted income-times-years model and does not include future income growth or spending changes.
- Does a zero gap prove I have enough insurance?
- No. It only means entered resources cover the modeled amount. Suitability, policy terms and unmodeled circumstances require separate review.