About this Tool

This Term Insurance Calculator helps users determine the ideal coverage amount by considering their income, existing savings, and outstanding debts—ensuring financial security for their family in case of unforeseen events.

FAQs

Q1: What is term insurance?
A: Term insurance is a life insurance plan that provides coverage for a specific time period. It pays out a lump sum to your beneficiaries if you pass away during the term.

Q2: Why should I use this calculator?
A: This tool estimates how much term insurance you need based on your financial situation—so your family is financially protected.

Q3: What factors affect my term insurance need?
A: Your current income, how long your family will need support, your savings, and your existing loans or liabilities.

Q4: How accurate is this tool?
A: It gives a general estimate. For personalized advice, consult with a financial advisor.