human-life approach


A method for calculating a recommended amount of life insurance coverage to replace income lost by the death of the covered individual. Families with one or both parents working may choose the human-life approach in assessing whether a policy will enable the family to maintain its standard of living if one parent dies. Factors to consider include the covered individual's total compensation from employment (including health and retirement benefits) that would be lost and how long any dependent children in the family need to be supported.
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human resources officer humped yield curve