- ASSET - a kind of property that yields value or a return
- Human Life Value (HLV):
- Developed by prof.Hubener
- HLV concept considers human life as a kind of property or asset that earns an income
- It measures the value of human life based on an individual's expected Net future earnings. these earnings are capitalized, using an appropriate interest rate to discount them.
- Helps to determinr how much insurance one should have for full protection
- the amount of insurance should be around 10 to 15 times of one's annual income
3. Typical concerns faced by ordinary people
- Dying too early
- Living too long
- Living with disability
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