Monetary value of a human life, measured by the net present value of the benefits which others receive from the personal efforts of the individual whose life is being valued. In a family context, the human life value of a person is the present value of that persons’ future earnings, plus the present value of the cost of the household services that person provides, minus the present value of the person’s personal maintenance expenses. In an employment setting, the human life value of an employee is the present value of the future additional revenue from that employee’s personal efforts or knowledge, minus the present value of the future compensation (wages and salary plus employee benefits) to be paid to that person.

A way of deciding how much life insurance an individual may need. The person’s income, expenses, and years remaining in the workplace are considered, as well as the depreciating value of the dollar.