What concept refers to the value of income generated by a human life over time?

The concept that refers to the value of income generated by a human life over time is known as human life value. This concept quantifies the economic value of an individual's potential earnings over their working life, taking into consideration factors such as their current income, potential for salary increases, and the contributions they would make to their dependents and society at large.

Human life value is often used in financial planning and insurance discussions to determine appropriate amounts of life insurance needed to protect an individual's family and dependents. It serves as a basis for understanding the financial impact of losing an individual due to untimely death, highlighting the importance of adequate coverage to ensure a family’s financial stability.

In contrast, the other terms do not encapsulate the same comprehensive concept. Future stream of income emphasizes potential profits without the broader consideration of a person's entire economic contribution over their lifetime. Lifetime earnings potential focuses specifically on earnings rather than overall value to dependents and society. Financial asset value generally refers to the worth of financial assets (like stocks, bonds, etc.) rather than the implications of a human life. Thus, human life value accurately captures the significance of an individual’s economic contributions over time.