Human Life Value Calculator
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 values shown here are only for illustration.
The results are generated based on the information provided. It is not intended to be and must not alone be taken as the basis for an investment decision.
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Frequently Asked Questions
Why is human life value important?
Human life value is the monetary value of a person’s life. It is determined by the total benefits others depending on him/her may expect to derive from future efforts made by the person whose life is being valued. Evaluating human life in this way is important especially in cases where there happens to be a sole breadwinner as it determines how much insurance suffices to cover both present and future expenses of the dependents.
How is human life value calculated?
There are different ways by which human life value is calculated. Two of the most commonly used methods are the income replacement method and the need-based method. In the income replacement method, whatever income the family needs for support is covered by insurance. In the need based method, the amount required to cover needs and goals in case of death of the sole breadwinner is calculated. You can also calculate it online with this tool.
How to assess human life value?
Human life value is the monetary worth placed on a human life. Assessing human life for its economic value is a useful tool for insurance companies to determine the amount of money a family needs in case of death of the sole earning member. Factors like an individual’s age, gender, when he/she wants to retire, occupation, annual wage etc, determine HLV. These measures, which also indicate the likely financial loss, are by no means exhaustive.
This interactive does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. HDFC Life Insurance Company Limited or any of its affiliates/ group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information reported by the interactive.
The information being provided through this interactive is provided for your assistance/ information only and is not intended to be and must not alone be taken as the basis for an investment decision (“Information”). The recipient/ user assume the entire risk of any use made of this Information. Each recipient /user of this interactive should make such investigation as it deems necessary to arrive at an independent decision while making an investment and should consult his own advisors to determine the merits and risks of such investment. The investment discussed or views expressed may not be suitable for all investors. HDFC and its affiliates, group companies, sales staff, financial consultants, officers, directors, and employees may have potential conflict of interest with respect to any recommendation, related information or opinions.
This Information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose. This Information is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject HDFC and its affiliates/ group companies to any registration or licensing requirements within such jurisdiction. The distribution of this Information in certain jurisdictions may be restricted by law, and persons in whose possession this Information comes, should inform themselves about and observe, any such restrictions. The Information given in this interactive is as of the date of this report and there can be no assurance that future results or events will be consistent with this Information. This Information is subject to change without any prior notice. HDFC reserves the right to make modifications and alterations to this statement as may be required from time to time. However, HDFC is under no obligation to update or keep the Information current.
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