Methodology. Human Life Value (HLV) approach: Term cover = (Annual income × income-replacement years × % needed) + outstanding loans + future goals – existing assets. Income replacement years = years to retirement. Rule of thumb sanity check: term cover should be 10–20× your annual income. Term insurance is pure protection — buy via online direct plans (LIC, Max, HDFC Life, ICICI Pru); avoid endowment/ULIP cover. Premiums are deductible under Section 80C up to ₹1.5L (along with EPF/PPF/ELSS).