HOW MUCH SHOULD I INSURE MYSELF FOR?
As the breadwinner for your family, you would like it to continue enjoying the same lifestyle even when, God forbid, you are not around. It is at times like these that you begin to wonder whether your life insurance is enough to see them through. This calculator helps you figure out the amount of insurance cover that would be just right for your family in their years of need.
One important point. Certain immediate liabilities like loan pay-offs, credit card debt and emergency cash have not been accounted for. Similarly, certain investments that may have been made by you over the years are not accounted for.
Your family's expected annual expenses
(excluding your own expenses)
Household expenses
Spous'e self expense
Children's expenses
Your family's expected annual income
(excluding your own income)
Your spouse's self income,if any
Rentals, if any
Other income
Expected rise in your family's annual income in the future years
(in per cent)
5%
6%
7%
8%
9%
10%
11%
12%
13%
14%
15%
16%
17%
18%
19%
20%
For how many years would you like to insure your family?
5 Years
10 Years
15 Years
20 Years
25 Years
30 Years
35 Years
How much return can your family generate on investible funds after you are gone?
4%
5%
6%
7%
8%
9%
10%
11%
12%
13%
14%
15%
16%
17%
18%
19%
20%
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