Use this calculator to estimate the economic value of your life based on your income, expenses, and financial contributions to your dependents.
The Human Life Value calculator follows the methodology outlined by financial experts to determine the economic value of life based on income and expenses. All calculations are strictly based on these guidelines.
The formula used is as follows: HLV = (Annual Income - Expenses) × Years of Contribution
Consider an individual with an annual income of $100,000, annual expenses of $40,000, and plans to contribute for 20 years. The HLV is calculated as: (100,000 - 40,000) × 20 = $1,200,000
Human Life Value is a method of calculating the economic value of a person's life.
It is calculated based on the individual's income, expenses, and financial contributions to their dependents.
It helps in determining the amount of life insurance needed to protect one's dependents financially.
Yes, it can change based on changes in income, expenses, and financial commitments.
No, other factors like debts, future goals, and current savings also play a role.