Which of the following is not taken into account in the human life value approach for life insurance policies?

Question

Quizplus · Accepted Answer

The needs for illness and burial are not part of the human life value approach for life insurance policies. When the human life value approach is used, the concept places a dollar value on the individual based on earning potential which is calculated and projected over a period of years. There are four factors that must be accounted for in this process: individual's net salary; individual's annual expenses; number of years left to work (retirement age); and the value of the individual's dollar considering depreciation over time.

Which of the Following Is Not Taken into Account in the Human