Term Insurance with Riders Laddered policy ver3

Term Insurance Needs Calculator

Need-Based Analysis (NBA) for Financial Planning

1. Immediate Needs & Debts

Current Outstanding Loans (₹)

**Example:** Home Loan ₹25L + Car Loan ₹5L = **₹30,00,000**

Emergency Fund Needed (₹)

**Example:** 12 months of family expenses (₹1.25 Lakh/month) = **₹15,00,000**

2. Child Education/Marriage Goals

Child Education/Marriage Goals (₹) (Inflation-adjusted deficit)

**Example:** Future cost of 1 child's PG education (adjusted for inflation) = **₹50,00,000**

3. Income Replacement (The Present Value Calculation)

Annual Household Income (₹)

Dependent Period (Years)

This determines the duration of your **Policy 1 (Long-Term)**

Future Inflation Rate (%)

Corpus Reinvestment Rate (%)

Expected conservative return on the death benefit payout. (**Defaulting to 10%**)

4. Rider Cost/Coverage (Add-Ons)

Critical Illness Rider Coverage (₹)

Amount paid as lump sum upon diagnosis of a covered illness.

Accidental Death Benefit Rider (₹)

Extra payout in case of accidental death.

5. Existing Resources (Savings & Cover)

Existing Financial Assets (₹)

**Example:** Liquid Investments (MFs, FDs, Gold) = **₹5,00,000**

Existing Term/Life Cover (₹)

**Example:** Existing Term Plan Sum Assured = **₹1,00,00,000**

Recommended Insurance Coverage Analysis

Total Capital Needs (Gross Requirement)

💰 (A) Immediate Needs & Debts: ₹ 0

🎓 (B) Future Goals Fund: ₹ 0

💵 (C) Income Replacement Value (PV of Income Stream): ₹ 0

🏥 (D) Critical Illness Rider: ₹ 0

⚰️ (E) Accidental Death Rider: ₹ 0

TOTAL GROSS CAPITAL NEEDED (A+B+C+D+E): ₹ 0

Less: Existing Resources (F)

🏦 Existing Financial Assets (5a): ₹ 0

🛡️ Existing Term/Life Cover (5b): ₹ 0

Total Existing Resources (F): ₹ 0

Your **NET** Recommended Term Insurance Cover

₹ 0

(Total Gross Capital Needed - Total Existing Resources)

🚀 Recommended Laddered Cover Strategy (Maximize Savings)

**Policy 1 (Long-Term)** - For Income Replacement & Riders: ₹ 0

**Policy 2 (Temporary)** - For Loans/Goals (e.g., 15 Years): ₹ 0

Illustrative Premium Savings vs. Single Policy: Loading...

Suggested Coverage Scenarios 🚀

Calculation Warning:

Tax Benefit Highlight (New Tax Regime)

Under current tax laws, the entire **Death Benefit** payout from a Term Insurance plan is completely **Tax-Exempt** under Section 10(10D). This ensures your family receives the full corpus value.

Key Policy Enhancements (WOP & Payout)

* **Waiver of Premium (WOP) Rider:** Crucial to protect the policy if you lose income due to critical illness or disability.

* **Income Payout Option:** Ask about receiving the death benefit as a systematic monthly income instead of a lump sum.