MoneyLens / Term life insurance
Your life cover, explained.
Tungabhadra Secure Term Plus · Tungabhadra Life Insurance Ltd
Illustrative
Term life · Pure protection · Policy held
Policy 10 May
Life cover
₹1,00,00,000
lump sum and income
Cover until
Age 64
in 2054
Premium
₹17,900
a year for 30 years
3-year rule
10 May 2027
until then, disclosure can be questioned
₹1,00,00,000 of life cover until age 64, ₹17,900 a year for 30 years. Until 10 May 2027 a claim can be questioned for anything not disclosed.
Myra's most important observations
Prefilled from your documents · edit freely
Cover estimate: your numbers, beside this policy
Prefilled from Your numbers, and the policy's cover
₹6,00,000
20
₹40,00,000
₹20,00,000
₹50,00,000
₹10,00,000
6%
7%
Estimate
₹1.10 Cr₹1,09,92,019
This policy's cover
₹1 Cruntil age 64
Estimate above the cover
₹9.9 Lon these numbers
| Family's expenses for the years needed, in today's money | ₹1,09,92,019 |
| Loans to repay | ₹40,00,000 |
| Goals (education, a wedding…) | ₹20,00,000 |
| Less cover and savings already there | −₹60,00,000 |
| Estimate | ₹1,09,92,019 |
The years matter most: until the youngest child is independent, or until your spouse retires. Change any number; nothing here is saved.
Assumptions & limits. An estimate from the numbers on the left, not a recommendation of how much cover to buy. The family's expenses are needed at the start of each year for 20 years, rising 6% a year; the cover, once paid, is invested at 7% a year after tax. Loans and goals at today's amounts. Other cover counts only if it would still be there (an employer's cover usually ends when you leave the job).