Term life insurance is a sort of policy that covers you for a certain amount of time. The cover amount is paid to the nominee 

if the life insured dies within the policy's term. It provides financial stability to the insured's family in the event of his or her death.

Term life insurance protects your family financially in the case of your death. You may purchase term insurance to

You may purchase term insurance to guarantee that your family is not financially disadvantaged while you are abroad.

However, it is usual to find that the most pressing issue on people's thoughts before acquiring insurance is how much term insurance coverage should be acquired.

Experts have offered several equations. With their help, you'll be able to estimate the amount of insurance you'll need. Today, we'll tell you about them.

The Human Life Value (HLV) concept estimates how much money a person may earn during his working life. After that, it is discounted using the expected inflation rate. 

To put it another way, that person's cash inflows are calculated based on current prices. The family's economic value is calculated by subtracting this value from the individual's spending.