What’s life without people near you whom you love and cherish? We all worry thinking about what will happen to our loved ones in our absence. While no one can fill the gap we leave in the lives of our loved ones, we can surely make sure that they stay financially independent even when we are not here
But the question is, how much life insurance cover do you need to fortify your family's financial future? For this, you need to take your family’s expenses, your current age and your age of retirement into account.
Use our Human Life Value Calculator to find out how much life cover you should ideally have.
What is Human Life Value?
Human life value is the amount your family will need in order for your family member to live a financially comfortable life. The human life value takes your income, liabilities, and debts into account to give you an accurate picture of the amount of money your family will need in the future
How to evaluate life insurance needs?
The basic premise of life insurance is not to keep yourself financially resilient, but to keep your FAMILY financially resilient. So to calculate your life insurance needs, you can use two methods—the HLV method or the Need based method— to calculate the current value of the money your FAMILY will need in your absence.
How to calculate if you have adequate insurance coverage?
To know if you have adequate insurance coverage, you can use our free life insurance calculator above.
In case you didn’t know, you can open your account online within 24 hours. Offline account opening takes up to 4 working days. If you wish to open your account offline, fill and sign the forms using a black/blue ballpoint pen. Please fill in the email and mobile number of the applicant to avoid account opening delays.