This paper studies the risk data and protection measurements of lightning based on the IEC62305 standard. In addition, Visual Basic (VB) is used to build a lightning risk calculation program with a Graphical User Interface (GUI). The data structure, including environment data, line data, zone data, economic data, and protection measures is designed to simulate risk of loss of human life (R1) and risk of loss of economic value (R4). To achieve the most economical protection structure design, additional protection measurements and annual savings are considered. In the practical application, the main purpose is to discuss effective protection distances of surge protective devices (SPDs) for low-voltage power distribution. This paper takes advantage of Electromagnetic Transients Program (EMTP) to simulate the voltage of equipment with different types of loads and length of the cable. After using the protection measures, the value of risk of human life reduces form 21.299 × 10−5 to 0.439 × 10−5 and the value of risk of economic value reduces from 2696.754 × 10−5 to 98.062 × 10−5. The results mean that the protection measures let the values of the risk below the tolerance. By considering the annual cost saving. Assume the cost of protection measures, the interest rate, the depreciation rate, and the maintenance rate are 150,000 $, 4%, 5%, and 1%, respectively. The annual cost before using protective measures, the annual cost after using protective measures, the annual cost of protective measures, and the annual cost saving are $925,000, $33,635, $15,000 and $876,365, respectively. Consequently, it is feasible that the simulation result can provide users with great suggestions to choose the best installation location and achieve the most effective protection design.