Know how much financial protection your family may need — based on your income, expenses, liabilities, goals and existing wealth.
A few basics about the primary earning member. Approximate figures are fine.
Income is context, not the basis of the calculation. Your family's requirement drives the result.
Disclaimer: This calculator provides an indicative estimate of financial protection needs based on the information and assumptions entered by the user. It is intended for financial education and planning purposes and does not constitute insurance advice, investment advice, or a recommendation to purchase any particular insurance product or amount of cover. Actual insurance requirements may vary depending on individual circumstances, policy terms, taxation, liabilities and other factors.
A life insurance calculator estimates the financial protection a family would need if the earning member were no longer around. A serious one works from the family's actual cash flows — household expenses, dependants, loans and goals — and then subtracts the wealth and cover that already exist.
The output is not a product recommendation. It is a planning number that tells you the size of the financial hole your income currently fills.
Enough to keep your family's life financially intact: their regular spending for the years they would still depend on your income, every loan cleared, and the goals you had committed to funding — minus the assets they can genuinely access and the cover already in force.
This calculator projects your family's annual requirement forward with inflation, reduces it by a surviving spouse's income year by year, and discounts the resulting shortfall back to a present value at your investment-return assumption. Future goals are inflated to the year they occur and then discounted the same way. Outstanding liabilities are added at face value. Available financial resources and existing personal cover are then deducted.
An income multiple ignores everything that actually decides the answer: what your household really spends, whether your spouse earns, how many dependent years remain, what you owe, what you have already saved, and what goals are still unfunded. Two people on the same salary can need very different cover.
Yes — but only the part your family can genuinely use. Money in bank accounts, deposits, mutual funds and equities counts. Retirement-earmarked money such as EPF, NPS and PPF should not be counted in full, because your spouse's own retirement still has to be funded. This calculator applies an editable availability factor, set to 50% by default.
Usually not. Your family will continue living in it, so it is rarely available to fund expenses. It is excluded here by default; you can include it explicitly if the family would realistically monetise it. Investment property is treated separately, with an availability share you control.
Group cover is valuable while it lasts, but it usually ends with the job — exactly when income has already stopped. It is shown separately in your results and is not counted as sustainable personal protection.
For a single-income family with young children and a home loan, the needs-based number is often materially higher than a rule of thumb suggests, because education goals and loan repayment sit on top of many years of household expenses. For a household with substantial assets, no dependants and no debt, the honest answer may be very little. Run your own numbers.
A structured review of where your finances stand across eight areas.
How much of your wealth is productive, locked, accessible or lifestyle.
What your goals really cost, and the honest monthly SIP to get there.
