Q634
Insurance needed by a person can be determined by
A.
Human Life Value method
AnswerB.
Life Term proposition method
C.
Future Life value method
D.
Human Economic value method
Answer: Option A
Solution
Answer: Option A
Solution:
Insurance needed by a person can be determined by Human Life Value method. The human life value concept deals with human capital, which is a person's income potential. It goes beyond just the numbers and considers the overall impact of losing someone, especially the breadwinner.