Elastomeric components have wide usage in many industries. The typical service loading for most of these components is variable amplitude and multiaxial. In this study a general methodology for life prediction of elastomeric components under these typical loading conditions was developed and illustrated for a passenger vehicle cradle mount. Crack initiation life prediction was performed using different damage criteria. The methodology was validated with component testing under different loading conditions including constant and variable amplitude in-phase and out-of-phase axial–torsion experiments. The optimum method for crack initiation life prediction for complex multiaxial variable amplitude loading was found to be a critical plane approach based on maximum normal strain plane and damage quantification by cracking energy density on that plane. Rainflow cycle counting method and Miner’s linear damage rule were used for predicting fatigue life under variable amplitude loadings. The fracture mechanics approach was used for total fatigue life prediction of the component based on specimen crack growth data and FE simulation results. Total fatigue life prediction results showed good agreement with experiments for all of the loading conditions considered.