| A human being is an income generating asset. One's | | | | other arrangements to meet the continuing needs. |
| income generating ability depends on one's skills, | | | | But if it happens much earlier when the alternate |
| (manual, professional, problem solving, entrepreneurial, | | | | arrangements are not in place, there can be losses to |
| etc). These are the assets. The value of the asset | | | | the person and dependents. Those dependent on the |
| can be measured by considering the income that is | | | | income are helped to overcome their difficulties, by |
| generated by the person concerned. The concept of | | | | insurance. |
| Human Life Values, provides scientific ways to | | | | A person, who may have made arrangements for his |
| determine the asset value of the human life and | | | | needs after his retirement, also would need insurance. |
| therefore, the amount of life insurance required... | | | | This is because the arrangements would have been |
| These techniques, like other techniques related to | | | | made on the basis of some expectations like, likely |
| selling, will have to be learnt on the job. | | | | to live for another 15 years, or that children will be |
| These assets also can be lost through unexpectedly | | | | able to look after the aged parents. If any of these |
| early death or through sickness and disabilities caused | | | | expectations do not become true, the original |
| by accidents. Accidents may or may not happen. | | | | arrangement would become inadequate and there |
| Death will happen, but the timing is uncertain. If it | | | | could be difficulties. Living too long can be as much a |
| happens around the time of one's retirement, when it | | | | problem as dying too young. Both are risks, which |
| could be expected that the income will normally | | | | need to be safeguarded against. Insurance takes |
| cease, the person concerned could have made some | | | | care. |