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    How to Calculate your Insurance Cover with Life Insurance Calculators

    Last Updated On 03-12-2017

    Life Insurance is always taken as a last resort, as a ‘when-all-else-fails’ deal. Seeing as how you won’t be around to lend your family a hand when this piggy bank is broken, you have to be absolutely certain as to the amount to which you have to be insured for the policy to be of maximum effectiveness. Life Insurance Calculators can be of benefit here.

    Life Insurance Calculators help zero in on the most viable insurance policy, depending on how accurate your predictions of the future needs of your family are. By taking expert advice and economic variables into account, this tool could effectively tell you how much your Life Insurance Cover should be.

    Different Life Insurance Companies in India offer their own calculators that are individually calibrated to the specifics of the policies that they have on offer. Most of them also come with Life Insurance Premium Calculators, that tell you the amount of premium to be paid as well. This grants you access to a lot of variables that you can compare to tell you which policy is best suited to your needs.

    Overall, a Life Insurance Calculator generally takes the following variables into account from our end:

    1. Lump sum needs in case of your unfortunate death like: home loan, car loan pay off etc. 
    2. Monthly expenses required to cover the daily needs of your family
    3.  The amount of time till which your policy would have to sustain your family until they become self- sufficient.
    4. Inflation in the economy. 
    5. No. of dependents in the family 
    6. One-time sizeable expenses that will have to be met during the policy tenure. 
    7. The kind and cost of education required to be given to your children. 
    8. Amount required for Child’s marriage. 
    9. Amount required to provide for your dependent parents.

    Based on the variables that you have given and algorithm that will incorporate expert predictions of the economy, the Life Insurance Calculator will tell you the amount of cover required to financially secure your family in your absence.

    The easy accessibility enables everyone to find the adequate amount of Life insurance required for financial security of their loved one’s. It would be strongly advised to use such services before you begin investing in a policy of your own.

    Know more about health insurance, term plan, term insurance and life insurance at PNB MetLife.


    The aforesaid article presents the view or an independent writer who is an expert on financial and insurance matters. PNB MetLife India Insurance Co. Ltd. doesn’t influence or support views of the writer of the article in any way. The article is informative in nature and PNB MetLife and/ or the writer of the article shall not be responsible for any direct/ indirect loss or liability incurred by the reader for taking any decisions based on the contents and information given in article. Please consult your financial advisor/ insurance advisor/ before making any decision..

    PNB MetLife India Insurance Company Limited, Registered office address: Unit No. 701, 702 & 703, 7th Floor, West Wing, Raheja Towers, 26/27 M G Road, Bangalore -560001, Karnataka.
    IRDAI Registration Number 117. CI No: U66010KA2001PLC028883. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale.
    The marks “PNB” and “MetLife” are registered trademarks of Punjab National Bank and Metropolitan Life Insurance Company, respectively. PNB MetLife India Insurance Company Limited is a licensed user of these marks.
    Call us Toll-free at 1-800-425-6969.. Phone: 080-66006969, Website:, Email: or Write to us: 1st Floor, Techniplex -1, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West), Mumbai – 400062, Maharashtra. Phone: +91-22-41790000, Fax: +91-22-41790203

    EC302 LD/2019-20/313

    • IRDAI is not involved in activities like selling policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.


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    Collapsed Expanded

    As your trusted life insurance partner, PNB MetLife is with you amidst the current COVID-19 outbreak. Our policies also cover COVID-19 Claims. In case of a Death Claim, kindly submit the signed Claim Intimation Letter mentioning the policy number, brief of the insured event and other claim documents on the email mentioned herewith. Please write-in to us at or You can also call us on 1800-425-6969 for death claims intimations and for any queries on Monday - Saturday between 10:00 am - 7:00 pm.

    PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance PlansTerm PlanProtection PlansLong Term Savings Plans , Retirement Plans & Child Education Plan.

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