STEP 1 requires you to tell us a little bit about yourself and your family. You should fill this first.
STEP 2 helps us understand bit about your finances and your financial goals. These 2 sections will take about 1 minute to fill.
View your answers in STEP 3.
Please use the icons marked if you're unsure of what information is being asked for.
In case you want to change any of the information you have provided, you can go back to STEP 1 & 2.
Watch how your answers change as you change your inputs in STEP 1 or 2. This helps you create 'what if' scenarios like 'what happens to the amount of insurance I need if I don't want my family to sell off existing assets to pay off loans if I die' or 'what if I want to put more aside for my child's education'.
Your life insurance requirements are determined by:
Savings and investments which your family can live off
Loans which are yet to be paid and which your family may need to settle
Future expenses your family will incur
Future income which you seek to replace
Our Life Insurance Tool tells you the RIGHT AMOUNT of insurance you require.
Get started by filling your basic details.
STEP 1 OF 3
TELL US ABOUT YOUR FAMILY (Click to open and close this section)
Retirement Age (yrs)
Does your spouse have a regular income?
At what age will your spouse retire?(yrs)
How much is your spouse's net monthly income (after taxes and deductions)? (र)
STEP 2 OF 3
TELL US ABOUT YOUR FINANCES (Click to open and close this section)
How much are you insured for? (र lakh)
How much interest/ returns would you expect your family to earn on the money they get from the insurance company:
Loans & Assets
What is the total amount of your loans? (र lakh)
Would you want your family to use existing savings and investments to repay your loans?
What is the value of your savings / investments? (र lakh)
What are your monthly expenses?
By how much do you expect your expenses to increase every year?
By how much can your family reduce expenses after your demise?
How much money do you take home each month (after taxes and deductions)? (र)
How much do you expect your monthly income to increase every year?
STEP 3 OF 3
VIEW YOUR ANSWERS
Understand your answers
The 3 approaches to insuring yourself are:
At the minimum, you are expected to insure your debt. This is ESSENTIAL!
You should additionally provide for your family’s or dependants’ future expenses. This is usually the RECOMMENDED approach.
You could also look at substituting your expected income. However, this may be insufficient or excessive depending on your age, planned retirement, and income growth expectations.
The chart shows you 4 bars:
The leftmost bar (in blue) represents the amount you are currently insured for.
The 3 green bars each represent one possible approach to getting the right amount of insurance.
The amount in green above each bar is how much you need to additionally insure yourself for.
The amount in blue above each bar tells you the approximate premium you will need to pay per year for insuring yourself.
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