Explained: Why life insurance is a must for stay-at-home housewives, too

The spouse's economic value can be arrived at by estimating the cost of outsourcing such services

Zero. Zero is the human life value (HLV) of housewives, househusbands, or stay-at-home parents, who have no income and do not contribute to the household financially. HLV is a finance term that helps you calculate the monetary value of your life, based on your income, savings, and liabilities, to assess the amount of life insurance you need.

No wonder, as Ranjit Dani, a Nagpur-based certified financial planner (CFP), says: “Many believe there’s no need to buy life insurance for the stay-at-home group. With no income, there won’t be any financial loss on their death. But there is certainly merit in getting