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Calculate Your Ideal Life Cover
The Human Life Value (HLV) Calculator is a vital financial planning tool used to estimate the economic value of an individual to their family. It calculates your ideal life insurance cover by projecting your future cumulative earnings, accounting for annual salary increments, and factoring in your current outstanding liabilities or loans. Protect your family's standard of living with mathematical precision.
Your Current Annual Income (₹)
Expected Income Growth (% p.a.)
Remaining Working Years
Outstanding Loan/Liabilities (₹)
Your Ideal Term Life Insurance Cover Should Be:
₹ 0
₹ 0
Cumulative Future Income
₹ 0
Total Liabilities
*Disclaimer: This is an estimated mathematical calculation. Please consult a Bonvista insurance expert for precise underwriting needs.
FAQ
Frequently Asked Questions
What exactly is Human Life Value (HLV)?
Human Life Value is an economic concept used to determine the financial loss your family would suffer if you were to pass away unexpectedly. It essentially calculates the total amount of income you would have earned over your working life, ensuring your dependents can maintain their lifestyle.
Why are my loans and liabilities added to the HLV?
If you pass away, your outstanding debts (like home loans, car loans, or personal loans) do not disappear. They are passed on to your family. Adding your liabilities to your cumulative income ensures that your life insurance payout will cover your debts without eating into your family's daily living funds.
Is this the amount of Term Insurance I should buy?
Yes, this calculator provides a highly accurate estimate of the Term Life Insurance coverage you should hold. Unlike standard rules of thumb (like "10x your income"), this takes into account your specific salary increments and actual debt obligations.