In the Needs Analysis Approach, what is one of the key factors to be calculated?

In the Needs Analysis Approach, one of the key factors to be calculated is the lifetime income needs for spouses. This approach aims to determine the financial requirements necessary to maintain a certain standard of living for the beneficiaries after the loss of the policyholder. It goes beyond immediate expenses and considers long-term needs, including ongoing living costs, education expenses for children, and other financial obligations that may exist over time.

Calculating the lifetime income needs for spouses ensures that they will have sufficient funds to cover their essential needs and goals, such as housing, food, and healthcare, which are critical in the event of a policyholder's untimely death. This comprehensive viewpoint is integral to providing a well-rounded analysis and ensuring that adequate life insurance coverage is in place to support the surviving spouse financially.

In contrast, the other options don't align with the primary focus of the Needs Analysis Approach. Corporate debts and profits are relevant to business insurance rather than personal financial needs. The estimated value of insurance company stocks pertains to investment strategies rather than individual life coverage needs. Premium costs for future insurances deal with affordability but do not provide a thorough understanding of what the beneficiaries will require in terms of income or financial support.