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How do I evaluate my insured value?

Picture?1508927281Rajendra Kumar

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Just as every thing in the world we use has an economic value, so does our human capital effort have  ...
 
Assessment of this can be done through various means, for a business man it can be a capital needs analysis , or linked to his business outstanding loans to creditors, or for a normal person it can be calculated through Human Life Value concept...
 
To briefly surmise it, take a persons present monthly salary and multiply it 150 times that would be his present insured value, or if its yearly salary that you are considering, take 12.5 times of it ,, then that would be his evaluation of insured value , why? 
 
lets take an example, a person aged 30 earns Rs.40000/- a month then his insured amount would be 150 times this figure, which is Rs. 60,00,000/- (sixty lakhs) ,lets assume  if he had taken a policy to this said amount of sixty lakhs and  incase he were to unfortunately die now ,the family would be in possession of the claim amount of  60 lakhs, which, if invested in an ordinary bank fixed  deposit  @ 8% per year , will benefit the family to  the tune of Rs.4,80,000/- , which is the same amount what he would have earned per year  if he was alive.....

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