A client aged 35 years wished to work till his retirement age of 60 years and thereafter will start receiving pension of Rs 40,000 per month payable to him/spouse in the event of his death. His expected average annual income till his retirement is Rs 10 lakh. Out of this, Rs 2 lakh will be consumed by the client. The discount rate is estimated at 8 percent per annum. He already owns Rs 30 lakh life insurance policy. (a) Using the human value approach, compute the insurance coverage amount (b) Mention the drawbacks of this approach