Insurance needed by a person can be determined by

A. Human Life Value method

B. Life Term proposition method

C. Future Life value method

D. Human Economic value method

Answer: Option A

Solution(By Examveda Team)

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.