Annual Insurance Cost Estimator
Add up every policy you pay for — term, health, car, home and more — to see your total annual and monthly insurance spend.
Over-insured > 8% | Under-insured < 2%
Disclaimer. This tool only totals the premium figures you enter and does not evaluate whether your coverage amounts are adequate — use it alongside the Insurance Coverage Need Calculator and consult a licensed advisor to confirm you're neither over- nor under-insured. Read full disclaimer →
How Total Insurance Cost Is Calculated
This tool simply totals every premium you enter — term/life, health, car, home/property and any other policies — into one combined figure, then divides by 12 to show the monthly equivalent. It's a quick way to see your full insurance spend in one place instead of tracking separate renewal dates and amounts across policies.
The result is compared against a common benchmark: total insurance premiums should typically fall between 3–5% of annual income. Spending more than 8% often signals over-insurance or expensive investment-linked plans (like ULIPs or endowment policies) that could be replaced with cheaper pure protection; spending under 2% may mean you're under-insured, especially if you lack adequate term and health cover.
Worked Example
With premiums of ₹10,000 (term), ₹15,000 (health), ₹8,000 (car), and no home or other policies: total annual cost = ₹33,000, which works out to about ₹2,750/month. For someone earning ₹10,00,000/year, that's 3.3% of income — comfortably within the recommended 3-5% range.