Termlife Insurance Calculator
We all by now realize the importance of taking Term Life Insurance to secure our family members from financial insecurities due to death of income earning member of family.
However we have many questions like when to take it, how much cover to take.
When to take Term Life Insurance ?
Term insurance premium depends on age, gender, health conditions, annual income, smoker / non-smoker etc. Less the age, good health condition, non-smoker – less premium. More annual income – more cover is given. There is no right age to buy termlife, however it’s good to take between 35-40yrs. Consider all factors before you decide. When you know all the dependents on you.
How much cover to take ?
You need to understand your total expenses and total assets.
Total expenses are categorized into monthly recurring family expenses and one time family expenses.
Total fixed and liquid assets. Fill below figures for expenses and assets to calculate term life insurance needed by you.