Ahmedabad, Gujarat, India info@smartwealthhubb.com
Make a Claim

Life Insurance Calculator

Needs-based life cover: family expenses, loans, goals, minus assets and existing policies.

All calculators Calculator 1 of 18

Your details

Family income protection
10 yrs
How many years dependents need living expenses covered
Rent, food, school fees, utilities, EMIs paid from income, etc.
Liabilities & life goals
Home down payment, business, parents' care, etc.
What you already have
Bank balance, FD, mutual funds, gold (easily usable)
Assumptions
7%
5%
Used to calculate present value of future expenses

About this calculator

A life insurance calculator helps you estimate how much cover your family needs if your income stops. It adds up inflation-adjusted household expenses for the years you want to protect them, plus outstanding loans and major goals (education, marriage, other dreams), then subtracts liquid savings and existing term insurance. Use the recommended cover as a starting point — our advisors can fine-tune it for your situation.

Results

Adjust the inputs — results update automatically.

Get expert advice

Understanding Life Insurance Calculator

Life insurance is not about the product you buy — it is about the income your family would lose if you were not there. A needs-based life cover estimate is more reliable than a simple “10× salary” rule of thumb, because every household has different expenses, loans, and goals.

How this calculator works

This calculator adds up inflation-adjusted living expenses for the years you want to support your family, plus outstanding loans and major goals (education, marriage, other dreams). It then subtracts liquid assets and any existing life cover. The result is the additional term cover you may need today.

Example

Suppose annual household expenses are ₹6 lakh, you want 10 years of support, you have ₹50 lakh of loans, ₹35 lakh of family goals, ₹10 lakh liquid assets, and ₹20 lakh existing cover. After inflation and discounting, the tool typically shows a multi-crore additional cover need — which is why under-insurance is so common in India.

Practical tips

  • Prefer pure term insurance for protection; keep investments separate in mutual funds or PPF.
  • Review cover after marriage, a home loan, or the birth of a child.
  • Nominate correctly and tell your family where the policy documents are kept.

Limitations

This is an indicative planning tool, not a policy recommendation. Final sum assured depends on age, health, income proof, and insurer underwriting. Speak with an advisor before buying.

Need help applying these numbers to your situation? Request a free consultation with Smart Wealth Hub in Ahmedabad, or explore our financial services.