Their future prospects go up during the age of 50 to 70 years and they are self-employed. You cannot say that in case of death [of self- employed or private sector employees], the future prospect principle would not be considered. The apex court said there was a need to standardise the minimum amount under the head of future prospect in case the victim was either self-employed or working in private sector. Senior advocates Rakesh Khanna and Jayant Bhushan, appearing for insurance firms, said the existing “multiplier” system of computing the compensation in accident cases takes care of the future prospect principle as well. In the claim plea, the family members have to establish the age and income of the deceased and the number of dependents.

Source: The Hindu October 10, 2017 15:07 UTC