Human Needs Approach Life Insurance. Don’t calculate your “human life value.”. The needs approach or the human life value approach can be used to determine whether kevin and patricia have sufficient life insurance in the event of their premature death.
Simply replacing future earnings is a little too simplistic an approach to. Even if the policyholder could somehow afford the premiums,. Under this approach, the insurance purchased is based on the value of the income the insured breadwinner can expect to earn during his or her lifetime.