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LIFE INSURANCE CALCULATOR

Provide for closure of unpaid loans Home Loan 1 Home loan 2

Current Outstanding 5,000,000 -
Prepayment charges (in %), if any 1.00% 1.00%
Prepayment charges (in Rs) 50,000 -
Amount needed to settle the loan 5,050,000 -
Total Amount needed to settle loans (A) Rs. 5,252,000

Important events/goals in life (You can add events as p

Education Child 1 Education child 2
Present cost 1,000,000 1,000,000
Years to goal 8 15
Expected specific inflation 12% 12%
Future cost 5,473,566 5,473,566
Current savings for the goal, if any 10,000 -
Expected return on current savings 8% 8%
Future value of current savings 18,509 -
Net future cost to be provided for 5,455,056 5,473,566
In case of demise, money required to achieve goal
Assuming return of 8% 8%
Fresh amount required in present day
terms 2,947,197 1,725,496

Fresh amount to be provided through

life insurance proceeds (B) Rs. 8,236,

Provide for expenses to maintain

lifestyle (exclude expenses that are specific to
you) Total expense Expected inflation

Monthly expenses
(for annual expenses such as vacation, health
insurance, car insurance etc, divide by 12 and add
to the number) 30,000.0 10%
Any other monthly expense 1
(e.g. parent support) 10,000.0 8%
Any other monthly expense 2 0 6%
Any other monthly expense 3 0 4%
Any other monthly expense 4 0 2%
Total support for such monthly
expenses required from life insurance ( C) Rs. 12,271,736

Total life insurance requirement (A+B+C) Rs. 25,759,899

Existing life insurance coverage
(include money back, endowment,
term plans etc) Rs. 10,000,000

Other retirement savings including PPF, EPF etc) Rs. 1,000,000

Other savings/assets that are not earmarked for

any of the above goals/events and can be
disposed of Rs. 500,000
Fresh insurance requirement (D) Rs. 14,259,899

Fresh life insurance requirement (120% of D) Rs. 17,111,879

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CULATOR

Car loan Other loan 1 Other loan 2

200,000 - -
1.00% 1.00% 1.00%
2,000 - -
202,000 - -
Rs. 5,252,000

(You can add events as per your discretion)

Marriage Child 1 Marriage Child 2 Other event 1 Other event 2
2,000,000 2,000,000 100,000 -
20 25 15 15
10% 12% 12% 12%
8,354,496 10,947,132 547,357 -
- - - -
8% 8% 8% 8%
- - - -
8,354,496 10,947,132 547,357 -
ey required to achieve goal
8% 8% 8% 8%

1,792,442 1,598,477 172,550 -

Rs. 8,236,163

Number of years
to support such Expected return Amount needed
expense on funds in present terms

20 6% Rs. 10,471,736

15 8% Rs. 1,800,000
10 4% Rs. 0
5 4% Rs. 0
4 10% Rs. 0

Rs. 12,271,736
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