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Calculate your life cover

Current annual income infoAnual
Wondering what income to consider? Here’s a tip - take the pre-tax income you earn by actively working, the income that will stop coming in if you’re not around. Salary Salary Business income Business income Rent income Rent income Interest Interest Dividend Dividend

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Policy Duration
10 years

Your life cover

Life cover = Policy duration X Current annual income

This amount is tax-free for your beneficiary

Your life cover

PRO TIP

  • Proptips

    Don’t forget the impact of inflation. If you find your life cover to be very high, remember that it may not be worth as much after 10 or 20 years.

  • Proptips

    Your insurer might offer you a lower cover due to your age or income. You can go ahead with the lower cover, and increase it later.

  • Proptips

    Every year that you wait to buy term insurance, your premiums increase by 4-5%. This increase can be as high as 12-17% in your 40s. So buy early and lock in cheaper rates.

  • Proptips

    This decision is not cast in stone. Revisit it when you see a big change in lifestyle (i.e., when your income changes significantly).