Ever considered what could be your life worth, in terms of money? Your productivity, your income levels, your assets, they all have a monetary value. Then why cannot their sum total, that is your life, also have a value attached to it? To calculate the Human Life Value for a person to be insured, an HLV calculator is required.
For a secure life for your family, you need to calculate this figure. When you get the life insurance based upon the calculations regarding your income, expenses, assets as well as liabilities, you are assigning the correct value for your life.
What needs to be entered in an HLV Calculator
• Annual household expenses
• Annual income
• The number of years your family should have this annual income
• Expected rate of inflation
• Expected return from the investment
• Outstanding loans and liabilities
• Current investments and assets
• Current value of insurance
After you enter these values, you get the figures telling your Human Life Value.
What the HLV Calculator tells you
• How much income do your dependents require
• Your net worth by deducting outstanding liabilities from extant investments
• How much insurance you must have
By knowing your HLV, you can buy the correct amount of life insurance. In the unfortunate circumstance of your passing away, your family will be financially secure. They would live the lifestyle that you have worked hard for, even after you are gone.
For a secure life for your family, you need to calculate this figure. When you get the life insurance based upon the calculations regarding your income, expenses, assets as well as liabilities, you are assigning the correct value for your life.
What needs to be entered in an HLV Calculator
• Annual household expenses
• Annual income
• The number of years your family should have this annual income
• Expected rate of inflation
• Expected return from the investment
• Outstanding loans and liabilities
• Current investments and assets
• Current value of insurance
After you enter these values, you get the figures telling your Human Life Value.
What the HLV Calculator tells you
• How much income do your dependents require
• Your net worth by deducting outstanding liabilities from extant investments
• How much insurance you must have
By knowing your HLV, you can buy the correct amount of life insurance. In the unfortunate circumstance of your passing away, your family will be financially secure. They would live the lifestyle that you have worked hard for, even after you are gone.
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