Is a life insurance calculator accurate in determining the right amount of coverage?

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Not always. A life insurance calculator can give you a basic estimate, but it’s rarely accurate enough to determine the right amount of coverage—especially if you have a complex financial situation or long-term goals.

Most calculators use simplified formulas based on income and age, without considering important factors like:

Your actual future earning potential

Family lifestyle needs

Children’s education or spouse’s retirement

Existing assets and liabilities

Inflation and evolving financial goals

At Truemind Capital, we’ve found that a Human Life Value (HLV) approach works far better. It’s a more detailed and realistic way to determine how much life cover your family would truly need in your absence. And since our guidance is completely unbiased—we don’t sell insurance or take commissions, so the focus is purely on getting your number right.

So while calculators can be a starting point, they should never be the final word. For important decisions like term insurance, a more personalized assessment is always better.

If you’re unsure about your current coverage, we’re happy to help you assess it the right way—no sales, just sound advice.