Frequently Asked Questions – Life Insurance Calculator
How much life insurance do I need?
A common rule of thumb is 10-15 times your annual income. However, the actual amount depends on your loans, number of dependents, existing savings, and lifestyle. Our calculator uses all these factors to give you a personalized recommendation.
What is a Term Insurance Plan?
A term insurance plan provides pure life coverage for a specific period (term). It pays the sum assured to nominees if the policyholder dies during the term. It has no maturity benefit but is the most affordable form of life insurance, with premiums as low as ₹500-1,000/month for ₹1 crore cover.
At what age should I buy life insurance?
The younger you buy, the lower the premium. Ideally, buy a term plan as soon as you start earning (25-30 years). Premiums increase significantly after 40. B-Wealth is an IRDAI licensed advisor and can help you find the best plan at the lowest premium.