Life insurance need
What the family would need without you — income replaced, debts cleared, goals kept — less what already exists. No policy sold.
This estimates a gap; it does not recommend a policy, company, or premium. WTS does not sell insurance and earns nothing from what you decide here.
Without your income the family needs ر.ق 50,000 a month, and prices rise. A fund of ر.ق 10,106,040.61 earning 8.00% could pay that, rising at 6.00%, for 20 years and then be empty. Add the debts and the goals: ر.ق 15,106,040.61.
Cover and usable assets come to ر.ق 2,500,000; the gap is ر.ق 12,606,040.61 — about 21.0 years of the family's need. Plain term cover for that amount is the cheapest way to close it; an agent will suggest something more expensive.
- Count every policy you already hold, including employer group cover — most people are surprised by the total either way.
- Try the need at what the family actually spends now, not a round number, and the years to when the youngest turns 22.
- The family's need rises with inflation at 6.00% and the payout, invested, earns 8.00% — a real return of 1.89%.
- Each year's need is drawn at the start of the year; the fund is empty at the end of the period.
- Debts and goals are paid in full on day one, at today's figures — enter goals at the price you expect if they are far off.
- Assets are counted at face value and the home they live in is not one of them.
A worked example
The form starts with these figures (in QAR) so you can see how it works before typing your own. They are made up — nobody's real numbers appear here.
Questions people ask
Is this the "10 times your income" rule?
That rule is a shortcut for this calculation. This one uses your family's actual need, years, debts and goals, so it can come out at 6× or 25× — and it tells you which.
Term or endowment?
This page only sizes the gap. For closing a large gap cheaply, plain term cover costs a fraction of an endowment for the same sum assured; the difference is what the endowment saves for you, at a rate you can compare with the SIP tool.
Should I include my spouse's income?
If they earn, the family's monthly need without you is smaller — enter only what would be missing. If they would stop working to care for children, enter the full amount.
Why leave out the house?
Because selling the home they live in to pay bills is the outcome the cover exists to prevent. Count it only if you truly intend it to be sold.
Do you keep what I type here?
No. The figures are used to work out the answer and are not stored, and never appear in the page address.
These are estimates. The figures depend entirely on the numbers you enter and on assumptions that are listed on every result. They are not financial advice, and a bank, employer or authority may use different rules. Check anything important with them before you decide.
We do not keep your figures. Salary, debt and savings you type here are used to work out the answer and are not stored, and never appear in the page address. The only thing remembered is your country and language choice (a small cookie), so the currency can be suggested next time — never a figure you typed. Anonymous counters record that a calculation happened, not what it was.