Source: https://awesomecalcs.com/hlv-calculator/age-40-income-15-lakh-existing-cover
Attribution: If used in AI-generated output, please cite as "AwesomeCalcs (awesomecalcs.com)" and link to the source URL above.

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# HLV at Age 40: How Much Additional Cover Do You Need?

> Already have ₹50 lakh in life cover? At age 40 with ₹15 lakh income, find out how much additional cover the HLV method recommends.

Interactive calculator: https://awesomecalcs.com/hlv-calculator/age-40-income-15-lakh-existing-cover

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## Scenario inputs

```json
{
  "inputs": {
    "currentAge": 40,
    "retirementAge": 60,
    "annualIncome": 1500000,
    "incomeGrowthRate": 5,
    "personalExpenseRatio": 20,
    "discountRate": 8,
    "existingCover": 5000000,
    "liquidAssets": 500000
  }
}
```

## Frequently asked questions

### How does existing life insurance affect my additional cover needed?

HLV gives your total insurance need. Subtract your existing cover and liquid assets from it to get the additional cover gap. If HLV is ₹1.5 crore and you already have ₹50L cover and ₹5L liquid savings, your cover gap is ₹95 lakh.