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Human Life Value Calculator

The human life value represents a person's entire monetary capacity over his or her lifetime. This monetary capacity includes income, fringe benefits, non-monetary contributions to the family, money spent on self-maintenance, etc. Thus, the human life value approach takes into account an earner's monetary as well as non-monetary contributions to his or her family. This calculator uses these variables to estimate the human life value of a person from the current timeframe to the time that this person retires. Simply put, the calculator estimates your economic value which may include many aspects of your life rather than just monetary value.

Glossary

Your Current Age?
How old you are.

Estimated Retirement Age?
The age you expect to retire.

Effective Income Tax Bracket?
Is determined by dividing total income taxes paid last year by the total income last year.

Percent of Income Spent on Self-Maintenance?
How much you spend yearly on things such as food, leisure, etc. in terms of a percent of your income.

Percent Annual Increase in Income?
How much you expect your salary to increase each year in terms of a percent to your current gross income.

Current Annual Income?
The gross yearly amount that you currently make.

Value of Fringe Benefits?
The amount of worth that comes from your work benefits such as health insurance, holiday bonuses, disability income, vacation time, etc.

Non-Monetary Contribution to Family?
The estimated yearly worth of your contribution to the household such as cooking and cleaning that would require your family to hire help if you were gone.

Percent After-Tax Discount Rate?
A conservative percent after-tax return of money if it were invested.

Your Current Life Insurance Protection?
The amount of life insurance coverage you currently have.

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