Before you set about buying a life insurance policy, find out how much insurance do you really need.
It is difficult to put a price to one’s life. But, for the sake of taking adequate life insurance one needs to exactly do so. The concept of putting a price to one’s life is known as the human life value (HLV), which is nothing but an estimate of the financial value of one’s life. Life insurers use this to arrive at the amount of insurance that a person should take, which is known as the sum assured in a life policy.
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