What is Insurance?

Insurance is a contract between an Individual (the policyholder) and an insurance company. This contract provides that the insurance company will cover some portion of a policyholder’s loss as long as the policyholder meets certain conditions stipulated in the insurance contract. The policyholder pays a premium to obtain insurance coverage. If the policyholder experiences a loss, such as a car accident or a house fire, the policyholder files a claim for reimbursement with the insurance company. The policyholder will pay a deductible to cover part of the loss, and the insurance company will pay the rest.

Types of Insurance

There are various types of Insurance, but these 2 types of insurance are most common and most used Insurance policy.


Life Insurance

Life insurance is a contract between an Individual (the policy holder) and an insurance company (insurer), where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder). The policy holder typically pays a premium, either regularly or as one lump sum.


Health Insurance

Health insurance is a type of insurance coverage that pays for medical and surgical expenses incurred by the insured. Health insurance can reimburse the insured for expenses incurred from illness or injury, or pay the care provider directly.

Importance Of Insurance

Importance of Insurance

  • Insurance provides Security and Safety
  • Insurance affords Peace of Mind
  • Insurance protects Mortgaged Property
  • Insurance eliminates dependency

Know Your Human Life Value

Monthly Expenses

Monthly expenses your dependents need if you die today?
(Other Than EMI)

In (₹)

This will be the replacement of your salary income which will be sufficient to fulfill your family needs.


For how many years you want to provide this money?

10 Years

This will be the duration you want to provide the regular income to your family.

Loan Amounts

Existing Life Cover

In (₹)

How much life cover you have already taken?

Life Insurance

Outstanding Loan Amounts

In (₹)

How much debt is still pending to be repaid?


Net insurance required


As Financial Experts, we have kept few values constant throughout the working of the calculator. However, as a user you have to customize these settings as per your requirements.

Premium for Life Insurance


Do you smoke?



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Secure yours and loved one's future


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