Is minion life recalculated?

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Does summoned minions' life get recalculated and readjusted after putting on/removing +%Minion life items or using necromancer's Deathlord (-50% minion life)? Is it feasible to equip a full +% MInion life set just to summon everything with huge HP bonus, then swap to combat-oriented gear?
Edited by Somethingmancer 6 years.
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short questions thread
Ok, reposted there