How much term cover do I need?

Start with income replacement

A widely used rule is 10–15× your annual income. If you earn ₹10 lakh a year, that's ₹1–1.5 crore of cover as a starting point — enough to replace your income for years while your family adjusts.

Then add debts and goals

Add outstanding loans (home, car, personal) so your family isn't left repaying them. Add big future goals — children's education, a spouse's retirement. Subtract existing savings and any cover you already have.

The gap is roughly the cover you need. An advisor can do this precisely with the 'human life value' or 'needs analysis' method.

Don't forget to review it

Your cover need grows with a new loan, a child, or a bigger income — and shrinks as your savings grow and dependents become independent. Review every few years.

Frequently asked questions