Human Life Value Calculator | Know How Much Life Insurance You Need

What is HLV Calculator?

Like everything else, your life also has monetary value. This is known as Human Life Value (HLV) and it is an estimate of the current worth of your future income, expenses, liabilities, and investments.

Human Life Value Calculator helps you estimate the ideal insurance cover by evaluating your present income, projected future income, current debts, and anticipated financial obligations that can replace the loss of income, in case of the sole breadwinner’s demise. This amount is important to secure your family’s future comfortably and without compromise.

If your question is ‘How much life insurance do I need?’, a Human Life Value calculator can help you arrive at that amount.

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What are the benefits of using Human Life Value Calculator?

It gives you an approximate indication of the cover required to secure your family, which gives you peace of mind.

This safeguards you from purchasing cover that is too high or too low.

Have an existing cover? The HLV calculator identifies whether it is adequate to cover your evolving needs basis inflation.

How do Retirement Calculators work?

Human Life Value (Formula)

The Human Life Value (HLV) Formula uses two methods to calculate human life value.

PV = P x 1 - (1+r) -n / r

Where:

PV = present value of an ordinary annuity
P = value of each payment
r = interest rate per period
n = number of periods

Frequently Asked Questions

View All FAQ’s

Does Human Life Value calculate inflation?

Answer

Yes, the Human Life Value calculator considers the current inflation rate.

How is HLV calculated with example?

Answer

The HLV formula for the Income Replacement method is: PV = P x 1 - (1+r) -n / r Here is a human life value calculation example: Example: If you are 35 years old currently earning Rs. 10 Lakhs per year, and plan to retire at 55, having annual family expenses of Rs.6 lakhs, you will need additional life cover of at least 85 lakhs

How much life cover do I need?

Answer

How much life insurance you need depends on your family’s financial requirements. While the number differs for everyone, your insurance cover should ideally be 10X your salary. However, a Human Life Value calculator can provide a better estimate as it also considers other factors such as savings, investments, expenses, and inflation.

How to calculate Human Life Value in insurance?

Answer

Human Life Value in insurance is calculated using the Human Life Value Formula. Your family needs your support, during your lifetime and even after. Fulfill your promise to take care of them forever. Speak to our financial advisor today by clicking here.

How to calculate life insurance using the easy method?

Answer

The easiest way to calculate life insurance is by using an IndiaFirst Life HLV calculator.

What is Human Life Value?

Answer

Human Life Value (HLV) is a sum that considers your future income, expenses, liabilities, and investments, to determine your economic worth.

What is the importance of HLV?

Answer

By measuring your economic worth, HLV determines the appropriate amount of life insurance coverage that can secure your family in the event of your death.

Who devised the concept of Human Life Value?

Answer

Dr. Solomon S. Huebner originated the concept of human life value. He is also known as the Father of insurance education.

Why do you need to Calculate Human Life Value?

Answer

Human Life Value is important as it helps you estimate the adequate coverage for your family’s financial security, in case of the breadwinner’s demise.