How is human life value calculated
The human life value (hlv) calculator helps you identify your life insurance needs on basis of income expenses, liabilities and investments and secure your family's future.The current value of the total net income is.Human life value this is the total amount you would need invested today, to equal the total earnings of a person's lifetime.When do you wish to retire?It goes beyond just the numbers and considers the overall impact of losing someone, especially the breadwinner.
Two values are calculated for you.It's essential to make sure that you don't leave behind any financial liabilities for your family.Close, but accurately stated many more factors go into the approximation.Some of the key elements based on which your human life value will be calculated are as follows:Your target retirement age 5.
This calculation produces a benefit amount that is designed to replace income, through retirement, for clients who pass away this year.Age annual income monthly expenses (household expenses, emis and more) existing life coverIt denotes the adequate life insurance amount you will need.In the income replacement method, whatever income the family needs for support is covered by insurance.There are 7 points that are taken into account to assess your hlv.
