Human life value: know it and how to calculate

1. The salary of the person: For a better calculation, you must mention your net salary and exclude any additional benefits.
2. Regular income from various sources, apart from salary, like gains made through investments etc. or earnings that you may have as the owner of any rented property.
3. The person's current age
4. The age at which the person will retire (for salaried persons)
5. Your liquid savings: This includes savings in bank excluding any FDs or RDs (Recurring Deposits)
6. You bank FDs
7. Your gross savings (apart from the two mentioned in points 5 and 6)
8. Your loans and liabilities etc: This includes any personal loans, any outstanding home loans, student loan, vehicle loan etc.
9. Existing coverage: This factor takes into consideration the fact you may already be insured under any existing policies (for example, under term plans or under any joint family floater schemes). Therefore, your current coverage scope, if any, must be duly mentioned.

HDFC Life offers HDFC Life Human life value calculator - an online tool that answers your insurance related queries and helps you make an informed decision in line with your specific requirements. For details, click on the mentioned link: https://www.hdfclife.com/financial-tools-calculators/human-life-value-calculator.

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