Insurance Requirement Calculator - Expense and Liability approach

Unit Value
Current Annual expense of the family Rs. 700,000

Current age of beneficiary dependent yrs 35

Life expectancy of beneficiary dependent yrs 75

Years to provide for yrs 40

Expected avg annual return on investment % 12

Expected avg rate of inflation % 8

Discounting rate % 3.70%

Estimated Insurance to cover expenses Rs. ₹ 14,487,435

Outstanding Loans and Liabilities Rs. 3,000,000

Insurance cover already taken Rs. 10,000,000

Value of existing assets and investments Rs. 100,000

Net additional insurance cover to be taken Rs. ₹ 7,387,435

Net additional insurance cover to be taken Rs. Lacs ₹ 73.87

Note: You can make your inputs in the yellow coloured cells. Do not change the other cells as it c
approach www.vipinkhandelwal.com

Notes
input Does not include loan EMI or premium payments

input

input

input Average rate based on a mix of various investments

input Average rate of inflation for your lifestyle

input All outstanding balance of loans and liabilities

input Sum Assured from all life insurance policies that you have

input Does not include one self-owned house

change the other cells as it can distort the calculations.

Insurance Requirement Calculator - Human Life Value approach

Unit Value
Current Annual income of the insured Rs. 1,200,000

Current age of the insured yrs 35

Expected retirement age of the insured yrs 55

Productive years yrs 20

Expected avg annual return on investment % 12

Expected avg rate of growth in income % 8

Discounting rate % 3.70%

Estimated Human Life Value Rs. ₹ 16,744,762

Outstanding Loans and Liabilities Rs. 3,000,000

Insurance cover already taken Rs. 10,000,000

Value of existing assets and investments Rs. 100,000

Net additional insurance cover to be taken Rs. ₹ 9,644,762

Net additional insurance cover to be taken Rs. Lacs ₹ 96.45

Note: You can make your inputs in the yellow coloured cells. Do not change the other cells as it can distort the c
 www.vipinkhandelwal.com

Notes
input Total income that the insured receives today

input

input

input Average rate based on a mix of various investments

input Average rate of growth in income

input All outstanding balance of loans and liabilities

input Sum Assured from all life insurance policies that you have

input Does not include one self-owned house

he other cells as it can distort the calculations.