Calculate your Life Insurance Cover

What is Life Insuarance Cover?

Life insurance cover is a financial help for your family when you die, where insurer provides a lump-sum payment (death benefit), to your family after insured's death.

How our present value calculator works?

Input Description
Annual income It is an annual amount earned by you or other family members
Annual expense It is an annual amount to fulfill your and your family's financial needs
Planned expense It is an amount for your future financial goals like child's marriage, child's education or any other
Investment It is an amount as your total investment till date
Outstanding loan It is a total outstanding loan amount which is still unpaid

List of types of death that are not covered by life insurance.

  • Natural Death
  • Suicidal Death
  • Accidental Death
  • Murder

Why is life insurance helpful?

Life Insurance is to help your family financially in case you are not able to earn due to some issues like an accident or illness. So that they can not suffer from financial problems.

How can I decide the amount of a life insurance cover I need?

The insurance cover amount is mainly decided on the premium you can pay during the pre-decided duration of policy. All though the most insurance companies say it has to be 6-10 times of the amount of your annual salary.

What are factors to decide the amount of life insurance?

  • Age.
  • Gender.
  • Annual income.
  • Debt obligations.
  • Phisical condition.
  • Smoking.
  • Medical history.
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