Term Insurance Calculator is a free online tool that helps you estimate the right term insurance cover amount you need when buying a term life insurance policy. ACKO Term Insurance Calculator is quick, simple, and 100% free to use. Enter your age, income, and a few basic details in the term insurance calculator below to find the ideal coverage (amount) to protect your family.
Life Cover Starting @ just ₹18/day*
Change Your Policy Term
As per your life stage and commitments
Hassle-Free Claim Settlement
99.38% Claim settlement ratio*
Smart Income Tax Savings
Save up to ₹54,600* on your taxes
A term insurance calculator is an online tool that is very simple to use. You just need to enter your age, gender, if you smoke or not, your yearly income, how long you want the policy to last, etc.
Once you enter these details, the term insurance calculator shows you:
When you use the ACKO Term Insurance Calculator available above, you can:
The calculator does all the work and helps you choose the best term insurance plan for 1 crore or more, based on your needs and budget.
A term life insurance calculator is a helpful online tool. It is a quick and easy way to estimate how much term insurance coverage you need, based on your financial goals, income, and family needs.
The basic details the term insurance calculator asks about are to understand your needs. It then uses them to find the right insurance coverage for you. Finding the ideal term plan coverage using a term plan calculator is important because:
Let’s understand the steps to use a term insurance calculator with an example of how Rita got ₹1 crore coverage using the calculator. After deciding to buy term insurance, here’s how Rita used the calculator:
Rita fills in the required information, like:
These details help the calculator understand her financial profile and future needs.
Next, the calculator suggests a recommended sum assured (insurance cover).
Rita chooses ₹1 crore term insurance as her ideal term life insurance coverage.
The term insurance premium calculator also shows her:
She sees that she can get ₹1 crore cover for just ₹500 per month (approx).
Rita reviews all the details. She also gets options to:
After payment and verification, Rita’s term life insurance policy is activated. Now, her loved ones are financially protected.
Using a term insurance calculator made it easy, fast, and stress-free for Rita and it can be the same for you too.
If you're asking yourself, "How much term insurance do I need?", the Term Insurance Calculator can help you make confident decisions in just a few clicks. So, let’s look at the benefits of using a term insurance calculator India.
This helps you estimate the coverage amount you need based on your financial situation, ensuring you're neither underinsured nor overinsured.
Whether your financial goal or life stage needs a ₹1 crore, ₹2 crore, or even more cover, the term insurance calculator will clearly show your options and remove any doubts.
You get immediate quotes, avoiding the need to calculate term insurance premiums and coverage values manually.
The term insurance calculator helps you identify term insurance plans that match your needs and budget, saving you money in the long run.
Some term insurance calculators let you compare plans. This helps you choose the best term policy based on coverage, price, and features.
Offers a clear breakdown of policy details, sum assured, and premiums, allowing you to make an informed choice.
You can use a term insurance calculator at any time, anywhere, from your home or office.
Note: Remember that some term policy calculators may not cater to complex financial scenarios or unique family situations, affecting the accuracy of results.
Choosing the right term insurance amount is important to protect your family’s future. The right amount depends on your income, monthly expenses, loans, and future plans.
Let’s see how this works with two examples of Pritam and Payal, who earn different incomes. Take 10 to 15 times the yearly income as a general rule to choose the term insurance amount in this example.
Using the rule:
₹6,00,000 × 15 = ₹90,00,000
That means Pritam should choose a term insurance cover of around ₹90 lakhs.
Using the rule:
₹12,00,000 × 15 = ₹1.8 crores
So, Payal should choose a term insurance cover of around ₹1.8 crores to take care of her family.
The purpose of buying a term plan or any life insurance plan is to protect your loved ones from financial hardships if you pass away unexpectedly. When you don't use a term policy calculator to estimate the right sum assured, a few of the following things might happen:
You might end up paying more money than you need to for your insurance. Without the Term Plan Premium Calculator, you won't know the exact amount that suits your needs and budget.
You might not buy enough coverage to protect your family properly. If anything happens to you, the insurance money might not be enough to support your loved ones financially.
Without knowing the right premium amount, you could be stressed about whether you can afford the insurance or not. It might affect your financial planning and peace of mind.
Looking for the best term insurance in India 2025? ACKO’s term insurance offers flexible, customisable features to support different life stages and financial goals.
| Categories | Specifications |
| Sum Assured | ₹10 Lakhs to up to ₹90 Crores |
| Entry Age | From 18 years to 65 years |
| Tax Benefits | Save up to ₹54,600* on taxes |
| Claim Settlement Ratio | 99.38% |
| Affordable Premiums | Term Life Cover Starting @ just ₹18/day* |
| Claim process | Fully digital, simply upload the necessary documents on the app. |
| Death Benefit | Available |
| Critical Illness Cover | Available |
| Accidental Total Permanent Disability | Available |
| Accidental Death Benefit | Available |
| 100% Dedicated Claim Assistance | Available |
| Policy Term Flexibility | Available |
| Customisable Policy Coverage | Available |
ACKO Life Flexi Term Plan is known for its unmatched flexibility, lower premiums and extensive coverage. With this plan, you can customise how much money your family would receive, how long the plan lasts, how often you make payments, and even how the money is given to your family with just one click in the ACKO App. You can also use the Term Insurance to find out more about the premium and coverage of the Flexi Term Policy.
We believe in being fair and friendly with your wallet. Our insurance plans give you excellent coverage without breaking the bank. So you can stay protected and save money. That's a win-win.
We're all about making life easier! Being digital-first means you can easily buy or make claims with us on your Term Insurance Policy. No more hassle, just simple and quick steps. Use the Life Insurance Premium Calculator to determine how much you will claim through your insurance plan.
You can enhance your ACKO Life Flexi Term Plan with valuable riders. You can opt for:
With just a few clicks, create a will to show which assets go where.
This option allows you to control how your nominees will receive the sum assured.
Buying a term insurance plan from ACKO is quick and easy. You can choose to buy it online or through the ACKO app by following these simple steps:
If you have any questions or need help with the buying process, we're here for you.
ACKO Life has streamlined processes for efficient, paperless policy management and claims.
Term Insurance is a type of life insurance that gives your family financial protection for a fixed time. If you pass away during the policy term, a set amount of money (called the death benefit) is given to your family or loved ones.
Buying a Term Insurance Plan is a commitment to protect your loved ones financially in case something unfortunate happens. It is an effective tool for everyone, including:
The Term Insurance Plan is ideal for all debt holders, and a Term Plan Calculator will help them estimate the amount they can cover for debts such as a car or home loan. This helps ensure your family doesn't experience monetary issues during your absence.
When you're young and in great health, getting a term insurance plan will be ideal as it comes with much lower premiums. You can affordably secure a good amount of coverage, leading to a long-term investment in monetary security.
For all single parents, this policy will deliver monetary support to kids who depend heavily on you. This kind of protection guarantees that your children have a safety net during an unexpected situation and, in return, will keep their future perfectly safe.
If you're the main earner in the family, acquiring Term Insurance will be worth it. That way, you can ensure that your family is protected financially even when you’re no longer there to provide for them. It will give you peace of mind to learn they will not experience hardship.
It is a smart decision if you have loved ones who depend on you financially, such as a spouse, children, or ageing parents.
For all business owners, the Term Insurance Policy will aid in covering all the business-related debits and offer a smooth transition.
The ideal time to purchase a term insurance policy is as soon as possible. The younger you are, the lower the premium you will have to pay. Also, purchasing early guarantees that you are protected against unexpected risks from an early age in life.
Most individuals delay term insurance purchases because they think there is enough time. However, with every passing year, the premium continues to grow based on increased health risks. Second, if an individual develops a health condition later in life, they may be offered a significantly higher premium or even rejected on the application. Purchasing early preserves lower premiums and ensures financial protection.
A limited pay option for term insurance provides you with the opportunity to pay premiums for a shorter period but get coverage for the entire policy duration. Rather than paying premiums for the entire policy period, you make all payments within a certain time, e.g., 5, 10, or 15 years.
It is highly advantageous if you wish to clear the premium payment earlier and be stress-free with no long-term liability. It is best suited for salaried individuals who desire to match their premium payments to earning years or entrepreneurs who want to clear financial liabilities early.
Several payout options are available in term insurance plans, and you can choose how your beneficiaries will get the sum assured. The three most popular payout options are:
The entire sum assured is paid in a lump sum. This is appropriate if your family needs instant money for loans or huge expenses.
Example: Rajesh, who was 40 years old and a professional, had a term insurance policy of ₹1 crore. When he met with an untimely death, his wife got the entire amount at once. She utilised ₹50 lakh to settle their home loan and invested the remaining amount for their children's future education and expenses.
Instead of a lump sum, the money is paid as a fixed monthly income for a specified duration. This facilitates payment of household expenses and provides a regular cash flow to dependents.
Example: Priya, a homemaker, lost her husband, Anil, who had opted for a monthly income payout. She now receives ₹20,000 per month from the insurer, which helps her pay rent, school fees, and daily household expenses without worrying about money.
Under this option, some part of the sum assured is paid as a lump sum and the remaining as monthly income. It provides a combination of both future and immediate needs for money.
Example: Amit, an entrepreneur, had a term plan of ₹1.5 crore sum assured. His family was given ₹50 lakh upfront to clear business loans, and the rest is being received in the form of ₹75,000 for 5 years, providing financial security for the future.
The most suitable payout option depends on your dependents' financial literacy, current liabilities, and how they would like to handle money. The monthly income option or combination payout may be more appropriate if your dependents are less experienced in handling large amounts. You can ensure your family's financial security by choosing the appropriate term insurance coverage, payment mode, and payout option.
Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on industry experience and several secondary sources on the internet, and is subject to changes. Please go through the applicable policy wordings for updated ACKO-centric content, and before making any insurance-related decisions.
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Reviewed by Vaibhav Kumar Kaushik 
Acko Technology & Services Private Limited
#36/5, Hustlehub One East, Somasandrapalya, 27th Main Rd, Sector 2, HSR Layout, Bengaluru, Karnataka 560102
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