MoneyLens / Term life insurance
Your life cover, explained.
Betwa Term Shield · Betwa Life Insurance Ltd
Illustrative
Term life · Pure protection · Policy held
Policy 14 Aug
Life cover
₹75,00,000
lump sum
Cover until
Age 60
in 2041
Premium
₹11,800
a year for 22 years
Revive by
14 Aug 2031
the policy has lapsed
₹75,00,000 of life cover until age 60, ₹11,800 a year for 22 years. Past the 3-year rule: the policy can't be called in question. The policy has lapsed; it can be revived until 14 Aug 2031.
Myra's most important observations
Prefilled from your documents · edit freely
Cover estimate: your numbers, beside this policy
Prefilled from Policy p.1, Schedule · Policy p.1, Maturity age 60 · Policy p.1, Policy term · Policy p.1
₹6,00,000
20
₹0
₹0
₹0
₹0
6%
7%
Estimate
₹1.10 Cr₹1,09,92,019
This policy's cover
₹75 Luntil age 60
Estimate above the cover
₹34.9 Lon these numbers
| Family's expenses for the years needed, in today's money | ₹1,09,92,019 |
| Loans to repay | ₹0 |
| Goals (education, a wedding…) | ₹0 |
| Less cover and savings already there | ₹0 |
| 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). Start from your own expenses: the figures shown first are only a starting point.