Life insurance is a must-have for every earning person in the family to protect their dependents in case of their absence. Moreover, life insurance protects life dependents financially in his absence. There are a few methods available to calculate the amount of life insurance needed. 1. Human Life Value Method or Income Replacement Method. Here, In this article, I will give an Excel template to calculate human life value (HLV) too. Read this article about LIC vs. postal life insurance. Click here to read. Want to invest in shares, then read this article? Click this link to read. Need-Based Analysis …