Human Life Value Calculator.

Life Insurance - Human Life Value CalculatorThe human life value calculator has been designed to help you assess your financial value to those you love by estimating the future financial contributions you will make to your family … or, more starkly, the financial loss that your family would incur if you were to die today. For the purposes of this calculator, a human life only has economic value in its relation to other lives, specifically a spouse or dependent children. Therefore, if you have neither, the calculator will not generate a result.

Please note, this calculator will provide only a rough sense of your human life value, which can be a factor in determining the amount of insurance you should have in your financial portfolio. Typically, the amount of life insurance someone needs is less than his or her human life value due to the availability of other sources of income (e.g., existing life insurance coverage, Social Security benefits, etc.). For an analysis of your life insurance needs, please visit the Life Insurance Needs Calculator or contact a professional agent or advisor in your area.

This calculator projects typical lifetime income for someone with the characteristics you provide in the input section, less taxes and expenditures devoted to your own consumption, plus any fringe benefits your family receives from your employer, such as health insurance, and the services you provide around the house. The resulting estimate is an approximate measure of your net financial contribution to your family – your human life value.

This human life value calculator should not be viewed as a comprehensive assessment. For example, you will notice that it does not account for the specific occupation and education of you or your spouse. Also, to simplify your responses, only general information is sought regarding your non-wage income, which impacts both your consumption and your income taxes. Furthermore, the dollar value of your fringe benefits is assumed to be equal to the average for someone of your income and family situation. Nevertheless, we believe that, given the limited information the calculator is using, it is the best estimate available. Click here for more information on the assumptions used to generate these estimates.

Enter only numbers or letters, no commas or dollar signs.

1. Your age at nearest birthday: 202122232425262728293031323334353637383940414243444546474849505152535455565758596061626364
2. Sex: MaleFemale
3. Your planned retirement age (e.g., 65):
4. Major occupation category: 123456789
  1. Executive, Administrative, and Managerial
    -(e.g., Chief Executives, Managers, Accountants, Marketers, Buyers)
  2. Professional Specialty
    -(e.g., Engineers, Scientists, Teachers, Lawyers, Doctors, Nurses, Artists)
  3. Technicians, Computer Programmers, and Related Support
    -(e.g., Electrical, Mechanical and Health Technicians)
  4. Sales
    -(e.g., Real Estate, Insurance, Retail and Personal Services)
  5. Administrative Support, Including Clerical Support
  6. Service and Public Safety
    -(e.g., Food, Health and Cleaning Services, Police, Firefighters, and Security)
  7. Farming, Forestry, Fishing
  8. Craft, Repair, Skilled Laborers
    -(e.g., Mechanics, Construction Workers, Textile and Food Production, Inspectors)
  9. Operators, Fabricators, Laborers
    -(e.g., Machine Operators, Motor Vehicle Operators, Assembler, Rail Transportaion)
5. Your annual wage earnings before taxes:
6. Does your employer provide fringe benefits? YesNo
7. Do you have a spouse? YesNo
If yes, then:
Age of spouse:
Is spouse employed? YesNo
Spouse’s planned retirement age (e.g., 65):
Spouse’s annual wage earnings before taxes:
8. Annual non-wage earnings
(e.g. investment or rental income)
9. Ages of children under 23:

Child 1 Age: Child 2 Age: Child 3 Age: Child 4 Age: Child 5 Age: Child 6 Age:
–12345678910111213141516171819202122 –12345678910111213141516171819202122 –12345678910111213141516171819202122 –12345678910111213141516171819202122 –12345678910111213141516171819202122 –12345678910111213141516171819202122

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