Human Asset Value

We human beings are an income generating asset, our value as an asset can be measured by considering the income that is generated by us.

The Risk in the case of a human asset are:

• Early Death.
• Living too long.
• Disabilities.
• Sickness.
• Unemployment.

So insurance is replacing Human Capital by financial capital-protecting family against potential loss of income due to untimely death.

For example:

• If your annual income is Rs. 5 Lakh and Age: 35 years.

• Ideal insurance cover required is Rs. 50 lakhs. (Rs. 5 Lakh * 10 times)
(I.e. if prevailing rate of interest is @10 %.)

However if already have

• Insurance Cover= Rs. 8 Lakh.

• Bank FD = Rs. 5 Lakh

• Total Existing Coverage= Rs. 13 lakh.

• Insurance Cover required is Rs. 37 lakh (50 Lakh-13 lakh)

• Insurance= HLV+ liabilities-Existing Corpus(which can be liquidated)

• HLV= Income*10 times(if rate of Fix Deposit is @10%)

• HLV= Income*12.5 times(if rate of Fix Deposit is @8%)

The first thing you must know is whether the life insurance plan you are planning to buy has the right components in the right mix. Let's look at one situation -

Your family is financially dependent on your income.

You have financial liabilities like home loans or other loans.

You do not have other assets to take care of your family's financial needs.

The sum assured should be 6-10 times of your annual income depending on your age minus the insurances and investments you already have that can be liquidated in a financial emergency.

For example: If your
• Annual income = Rs. 5 lakhs
• Age = 35 years
• Ideal insurance cover required = Rs.50 lakhs (Rs. 5 lakhs X 10 times)
However, if already have -
• Insurance cover = Rs. 8 lakhs
• Bank deposits = Rs. 5 lakhs
• Total investments = Rs. 13 lakhs (Rs. 8 lakhs + Rs. 5 lakhs)
• Insurance cover required = Rs. 37 lakhs (Rs. 50 lakhs – Rs. 13 lakhs)

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