Question

What does the Human Life Value (HLV) concept measure?

a.

The cost of an individual's education

b.

The value of human life in terms of physical assets

c.

The expected net future earnings of an individual

d.

The monetary value of personal happiness

Posted under IC38 Life Insurance Agent Exam

Answer: (c).The expected net future earnings of an individual Explanation:The HLV concept measures the value of human life based on an individual's expected net future earnings.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What does the Human Life Value (HLV) concept measure?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. In financial terms, what is an asset?

View solution

Q. What is one of the disadvantages of life insurance as a financial product?

View solution

Q. What is one of the advantages of life insurance as a financial product?

View solution

Q. What does the sum assured in a life insurance policy imply?

View solution

Q. The principle of risk pooling in life insurance primarily serves to:

View solution

Q. The principle of risk pooling in life insurance primarily serves to:Which document serves as evidence of the life insurance contract and contains all the terms and conditions of the insurance?

View solution

Q. What is one of the disadvantages of cash value life insurance contracts?

View solution

Q. What is one of the advantages of cash value life insurance contracts?

View solution

Q. Why is life insurance often compared to financial products?

View solution

Q. What is the purpose of the life insurance policy document?

View solution

Q. What role does the Principle of Pooling play in life insurance?

View solution

Q. How does the concept of level premiums apply to general insurance policies?

View solution

Q. Why do insurance companies use level premiums for life insurance policies?

View solution

Q. What is the primary difference in risk between general insurance and life insurance?

View solution

Q. Why are level premiums necessary in life insurance?

View solution

Q. How does life insurance differ from general insurance?

View solution

Q. What does HLV stand for in the context of life insurance?

View solution

Q. Why is understanding Human Life Value (HLV) important for a life insurance agent?

View solution

Q. What is the typical recommended range for the amount of life insurance based on one's annual income?

View solution

Q. How is Human Life Value (HLV) calculated using a simple thumb rule?

View solution
View All MCQs on IC38 Life Insurance Agent Exam

Recommended Subjects

Are you eager to expand your knowledge beyond IC38 Life Insurance Agent Exam? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!

Automotive Engine Design

Embark on a thrilling exploration of Automotive Engine Design, where the intricacies...

Data Interpretation

Master the art of data analysis and interpretation with our Data Interpretation...

Bioinformatics

Unlock the power of data analysis in biology with our Bioinformatics category....

Cell Biology

Delve into the fascinating world of Cell Biology with our specialized category....

Heat Transfer

Explore the fascinating world of heat transfer with our Heat Transfer category....

Civil Engineering

Dive into the world of Civil Engineering with our specialized category. Explore the...

Total Quality Management

Enhance your understanding of quality management with our Total Quality Management...

Enzyme Technology

Unlock the power of enzymes with our Enzyme Technology category. Explore enzyme...

Marketing and Marketing Management

Uncover the strategies and tactics of marketing with our Marketing and Marketing...