GT Insurance Blog

Insurance problems and cures

How do you value a life?

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Well, you can’t.

The Life and Health Insurance Foundation for Education (LIFE) makes one version of a Human Life Value Calculator available.

That calculator tries to give a rough estimate of the value of your future financial contribution to y0ur family.  Various on-line quote systems have their own versions.

Another approach is to look at the future needs of your family: food and shelter, education, health care, and so on.  This is a little more time consuming but can give you a different approach to the same problem.

It may be easiest to sit down with a counselor and kick around both concepts.  Pricing life insurance is often easy.  Pricing a life,  not so easy.  If life insurance is your kids’ ability to stay in your house, what’s it worth?


Written by gbwinsurance

December 8, 2009 at 4:03 am

Posted in Insurance

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