Life Cover Calculator
Additional cover recommended
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- Existing cover and savings
- Additional cover needed
- Income replacement (Human Life Value)
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- Outstanding loans
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- Total cover needed
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- Existing cover and savings
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- Additional cover recommended
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Illustrative estimates only, based on the assumptions you choose. Actual returns, rates and costs will vary.
About the Life Cover calculator
The Human Life Value (HLV) method estimates the value of your future income to your family: the money you would have contributed, after your own expenses, until retirement, in today's terms.
Add your outstanding loans, subtract the cover and savings you already have, and the result is the additional life cover to consider.
How to use it
- Move the sliders, or type a value into each box.
- Watch the results and chart update as you go.
- Try different assumptions to see what changes the outcome most, then talk to us about a plan.
The formula
HLV = C × [ 1 − ((1 + g) ÷ (1 + d))n ] ÷ (d − g)
- C: yearly income after your own expenses
- g: expected income growth
- d: discount rate
- n: years to retirement
Example
A 35-year-old earning ₹12,00,000 a year and spending 30% on themselves, retiring at 60, has a Human Life Value of about ₹1,41,54,883. Adding a ₹20,00,000 home loan and subtracting ₹15,00,000 of existing cover and savings suggests about ₹1,46,54,883 of additional cover.
Life Cover Calculator: common questions
No. A quick rule of thumb is 10 to 15 times your annual income plus loans. HLV is more precise because it uses your actual income, expenses and years to retirement.
A term plan. It pays only if you die during the term, so the premium is far lower than for endowment plans with the same cover.
Yes: after marriage, a child, a new loan or a big pay rise. Book a free checkup and we'll review it with you.
Want a plan, not just a number?
Book a free financial checkup and we'll turn these estimates into a plan that fits your life.