Which of the following is NOT considered when determining the value of someone's life using the needs approach?

The needs approach to determining the value of someone's life insurance needs focuses primarily on the financial obligations and future expenses that would need to be covered in the event of the person's death. This approach considers key aspects such as mortgages, outstanding debts, and various ongoing expenses that the family would encounter.

Mortgages represent a significant financial obligation that would cease to be paid if the primary income earner were to pass away, making it essential to account for in determining life insurance coverage. Similarly, outstanding debt, such as loans or credit card balances, needs to be settled to ensure the surviving family members are not burdened with these payments.

Estimated longevity, on the other hand, refers to the anticipated lifespan of an individual, which, while relevant in a broader financial planning context, does not directly inform the immediate needs of beneficiaries upon death. The needs approach is more concerned with current and immediate future financial responsibilities rather than predicting how long someone might live. Thus, it is not a factor considered when calculating the immediate financial needs of the individual's dependents.